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Though Ethereum is still PoW, and I am pretty sceptical that they will transition to PoS successfully.
by spurdoman77 6y ago
Though Ethereum is still PoW, and I am pretty sceptical that they will transition to PoS successfully.
- latchkey 6y agoAs you should be! It is a rube goldberg solution to a massively difficult problem. Nobody has done it at this scale before and switching billions of value over to a whole new consensus model is going to be an insanely difficult computer science / mathematical / social problem to solve. That said, I do think the core devs will eventually solve it, which I fully support. We have BTC and ETH 1.0 today and that in itself is amazing. I just don't think it will happen as quickly as everyone hopes it will. It can't. There is just too much ever increasing value on the line pushing on both ends of the demand spectrum. Dan Held has a good thread on power usage: https://twitter.com/danheld/status/1351235080103096331 https://twitter.com/danheld/status/1351235080103096331 Disclosure: I am very large scale eth pow miner that consumes excess hydropower.
- jki275 6y agoPOS is a solved problem, and is running successfully on ADA and XTZ right now. ETH is not transitioning because they don't want to transition. As you are a miner making money do you want to have your entire business model turned off?