Buterin Gets Into Twitter Argument With Bitcoin Analyst Over PoS
CoinEdition
Published Jul 04, 2022 08:35AM ET
Updated Jul 04, 2022 09:00AM ET
Buterin Gets Into Twitter Argument With Bitcoin Analyst Over PoS
- Bitcoin analyst claims that the PoS doesn’t solve the Byzantine General’s problem.
- Vitalik Buterin responds to the tweet stating that the argument is wrong.
- Adam Back replied that PoS is still undesirable.
The Bitcoin analyst, Jimmy Song, wrote a tweet claiming that proof-of-stake doesn’t solve the Byzantine General’s problem. The Byzantine General’s problem is generally when a situation arises where dispersed parties cannot reach a consensus without a centralized party to overlook it.
Adam Back suggested that even if PoS can solve the Byzantine General issue, “it is still undesirable as it replicates the problems of fiat systems.” He stated that wealthy groups have policy influence and can take control of others to gain favors.
Even though this argument is quite debatable, the benefits of proof-of-stake can’t go unseen. Ethereum’s Merge, which is set to happen very soon, will witness Ethereum’s upgrade from proof-of-work to proof-of-stake. This upgrade will aid in reducing energy consumption by 99% and reduce the negative impacts of proof-of-work.
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Written By: CoinEdition
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