The maxis attack the proof of stake – Since its creation in 2015, the protocol Ethereum aims to change the mode of consensus. Thus, it must pass from proof of work to proof of stake. This transition will occur through a mechanism called “ Fusion » (Fusion). However, criticism is rife regarding this shift in consensus.
Bitcoiners recommend Ethereum as real estate (securities)
As we know, some of the maximalists Bitcoinare very attached to their vision of cryptocurrencies. The latter are all the more attached to the consensus mechanism in proof of work. Indeed, it is considered more secure, in particular. Thus, it depends on a resource external to the blockchain, here electricity, to ensure the security of the network.
A few days since the debate about whether or not Ethereum is part of the real estate asset class (securities), is back. This was initiated by the CEO of MicroStrategy, who recently declared that Ethereum was “obviously a real estate value ». A subject which was then taken up by Nick Payton, via a scathing publication on Twitter.
“Dear Proof of Stakers. The fact that you could vote on something to change its properties is proof that it has real estate value. Love, bitcoin. »
>> You chose Ethereum? Choose Litebit and its €20 sign-up bonus (affiliate link) <
Vitalik against the Bitcoin maxi
Of course, Ethereum co-founder Vitalik Buterin couldn’t help but bounce to the pike sent by Payton.
Thus, Buterin replied to Payton, that like Bitcoin’s proof of work, proof of stake does not involve voting to set protocol parameters. Adding that in both cases, “rejected nodes invalid blocks ».
“It’s amazing how some PoW proponents keep repeating the outright lie that PoS includes votes to set protocol parameters (it doesn’t, just like PoW) and that it’s not not contested. »
He took the opportunity to add a little grammatical pun to put Payton back in place.
“Also, a small grammatical nuance: in English, when we talk about things like proof of stake, we don’t say “it’s a security”, we say “it’s secure”. I know these suffixes are tricky, so I forgive the mistake. »
A joke that apparently didn’t make Payton laugh so much. So he decided to respond by transposing where it hurts. In a new tweet, he asks Vitalik when he was going to stop changing the protocol. He also takes the opportunity to take news of the deployment of The Merge.
The Merge deployed during the year
A spade to which the Ethereum community is already well accustomed. Indeed, the Ethereum network should have gone into proof of stake several years ago. However, Vitalik Buterin himself recently said that he underestimated the technical difficulties of such a change.
Either way, Proof of Stake is expected to arrive in the coming months with the mainnet rollout of The Merge. In practice, this will make it possible to link the consensus layer in proof of stake with the executive layer of Ethereum.
Last week another big milestone was reached with the deployment of The Merge on the Sepolia testnet. All that remains now is to complete the merger on the Goerli testnet before finally considering its deployment on the mainnet.
Don’t wait for The Merge to start accumulating cryptocurrencies. Register now on the LiteBit platform. And for stacking a few more gwei, you will receive a 20€ bonus (affiliate link).