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I can try to contextualize this... at least explain my understanding of the history. Bitcoin grows popular and its proof of work burns increasing amounts of el
by pshc 4y ago
I can try to contextualize this... at least explain my understanding of the history.
Bitcoin grows popular and its proof of work burns increasing amounts of electricity. Ethereum devs do not want to see Eth go the same way, and prioritize Proof of Stake, which will not require any more waste. The devs sketch out new roadmaps, do research, and make slow but steady progress; software always takes longer than you think.
Meanwhile, Bitcoin has completely fossilized for political reasons and basically cannot be improved at this point. Bitcoin maximalists (diehards) recognize Eth as an existential threat and start pushing this meme of PoS being always 6 months away, despite the actual Eth devs never promising such things.
- ryan_lane 4y agoIt's the Eth people who constantly say it's 6 months away. Bitcoin people say that PoW is necessary for security and that PoS in Eth will be less secure, and also concentrates wealth and gains on that wealth into the hands of a small group.