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Ethereum does not use Proof of Stake, it is a proposed change that is being worked on, with a timeline of several years before it will be put into action, and t
by danpalmer 6y ago
Ethereum does not use Proof of Stake, it is a proposed change that is being worked on, with a timeline of several years before it will be put into action, and that's only if the network accepts it.
- lgierth 6y agoIt's actually up and running for a while, with large sums already staked, and the flipping of the switch on mainnet will very likely happen before end of summer. https://ethereum.org/en/eth2/staking/ https://ethereum.org/en/eth2/staking/
- meowkit 6y ago> timeline of several years ETH 2.0 has launched in parallel with ETH 1.X. The timeline is ~1 year for final merge, not years. This is potentially going to be accelerated (https://notes.ethereum.org/@vbuterin/B1mUf6DXO https://notes.ethereum.org/@vbuterin/B1mUf6DXO). The "network" doesn't accept anything. ETH updates via hard forks. You either get on the train with the most support, or you don't. The majority wants proof-of-stake and there is already almost 4 million Ether staked on the ETH 2 chain (https://launchpad.ethereum.org/en/ https://launchpad.ethereum.org/en/).
- danpalmer 6y ago> ETH updates via hard forks. You either get on the train with the most support, or you don't. This is what I mean by the network accepting. Admittedly there's a spectrum of win/loss as per the ratio of the two resulting networks, but I'd suggest that the stake based network being substantially smaller would essentially be a failure, especially if the mining is still happening.