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It has been the goal since day one. The Ethereum protocol was designed with PoS in mind and has a built-in difficulty bomb[1] to prove it. In short, this diffi
by shanecoin 5y ago
It has been the goal since day one.
The Ethereum protocol was designed with PoS in mind and has a built-in difficulty bomb[1] to prove it. In short, this difficulty bomb makes it exponentially harder to mine ETH over time. The goal of this feature was to encourage all participants of the ecosystem to transition to PoS as quickly as possible.
Given that, the implementation has not worked out totally as expected, as the difficulty bomb has been pushed back a few times over the years. However, to answer your question, the reason they did not move faster is because this transition is hard and plays in some uncharted territory.
[1] https://medium.com/fullstacked/the-ice-age-is-coming-ee5ad5fa485c https://medium.com/fullstacked/the-ice-age-is-coming-ee5ad5f...
- baby 5y agoI don’t think PoS was a thing when Ethereum was invented.
- joshmarlow 5y agoIt's mentioned in the whitepaper - https://ethereum.org/en/whitepaper/ https://ethereum.org/en/whitepaper/ > Note that in the future, it is likely that Ethereum will switch to a proof-of-stake model for security, reducing the issuance requirement to somewhere between zero and 0.05X per year.
- baby 5y agoInteresting, in any case I don’t think any decision was made to ease the transition at the time.
- rfd4sgmk8u 5y agoIt absolutely was, Peercoin (PPC), and even DPoS (BTS) predates ethereum too. What are they worth today? PoS is a scam -- also Diem is worse -- it is dystopia.
- baby 5y agoMkay