Although some believe that Ethereum’s upcoming change Proof of Bet (PoS) could eventually push the platform to overtake the Bitcoin (BTC) network, others are seizing the opportunity to make derogatory comments on Twitter, prompting retaliation from Ethereum co – founder Vitalik Buterin.
I tweet, bitcoiner Nick Payton caught them “Proof of Betsand argued that voting to change the properties of PoS platforms proves that PoS assets are securities.
Dear Proof of the Stackers,
It is proof that you can vote for something to change his property that is a security.
—Nick (@NickDPayton) July 11, 2022
Proof Dear Stackers, Proof that the fact that you can vote for something to change its property is a title. Love, Bitcoin – Nick (@NickDPayton) July 11, 2022
Buterin is replied to the post, describing Payton’s comments as a “shameless lie.” According to Buterin, PoS does not include voting on protocol parameters, just like PoW (Proof of Work). Buterin also explained that in both cases the nodes reject invalid blocks.
Last week, Jimmy Song, author of a book on bitcoin, also left built at PoS, questioning consensus decentralization. According to Song, the mechanism does not solve the Byzantine Generals problem. Buterin recalled Song’s comments in a tweet:
Hint: if a long – standing tradition of people debating A vs B is based on in – depth arguments of mathematics, economics, and moral philosophy, and you end up saying “B is dumb because of one – line technique of definitions”, it’s probably you are wrong. https://t.co/22N0OaHyz1
—Vitalik.eth (@VitalikButerin) July 3, 2022
Pro-tip: If the long – established tradition of people debating A vs B is based on deep arguments in mathematics, economics, and moral philosophy, then you end up saying “B is stupid because of a one – line technical definition. . “, you are probably wrong. https://t.co/22N0OaHyz1 – vitalik.eth (@VitalikButerin) July 3, 2022
In addition to Buterin, there is also another Ethereum founder and PoS judge, Charles Hoskinson given his opinion, saying the “level of stupidity” of Song’s tweet is “beyond explanation.”
Read also: According to BTC investor Michael Saylor, ether is “obviously” a commodity
As many reviews come after PoS preceded the merger of Ethereum, a decentralized financial researcher offered some positive thoughts on the upcoming change. In a thread, Vivek Raman said the move to PoS gives Ethereum the economic structure it needs to challenge Bitcoin’s dominance in the crypto space.
Earlier in July, Ethereum completed a major merger trial on the Seplia testnet. This brings the platform closer to the switch to the PoS consensus mechanism. The developers stated that while there are some difficulties, these will not delay the merger.