Vitalik Buterin says that Ethereum's PoW was 'quite centralized' and a 'temporary stage' until PoS
Quick Take Vitalik Buterin responded to user comments Friday about wishing Ethereum had stayed with a PoW consensus system.
Ethereum co-founder Vitalik Buterin responded to comments about Ethereum's transition to a proof-of-stake (PoS) from a proof-of-work (PoS) consensus system.
Users had noted on social media platform X that numerous Ethereum community members wished the network stayed with PoW instead of PoS. That sentiment received pushback from the man who first proposed the creation of Ethereum in 2013 at the age of 19.
"PoW was also quite centralized," Buterin responded. "It was just not talked about as much, because everyone knew it was only a temporary stage until PoS. And that doesn't even get into how we probably mostly avoided ASICs only because the upcoming PoS switch meant no incentive to build them."
Buterin included a pie chart of Ethereum PoW mining pools, showing the now closed SparkPool comprising 33%, with Ethermine following second at 21% and F2Pool's 11% coming third.
PoW secures a decentralized ledger by requiring miners to solve complex, energy-intensive mathematical problems to verify nodes and add blocks to the network, while a PoS system uses tokens staked to validator nodes to authenticate transactions.
Ethereum transitioned to a PoS consensus system in September 2022 in a move known as The Merge , which dropped Ethereum's energy consumption by 99.5% , The Block previously reported.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
You may also like
Trump administration walks back tariff ‘exemption’ on electronics
Trump says he’s “flexible” on electronic tariffs, and that more developments are “coming up”
Charles Hoskinson Weighs in: Is Bitcoin Surging to $250K?
Unpacking Charles Hoskinson's Bold Bitcoin Prediction in Light of Current Market Trends

Market Insights: Short-Term Recovery Signals for BONK, ALCH, and Bitcoin
In Brief Analyst Pseudonym identifies recovery signals in BONK, ALCH, and Bitcoin. Short-term trading strategies recommended for cautious positions. Increasing interest in meme tokens amid market volatility.

Ethereum Price Fluctuations Ignite Technical Analysis and Strategic Forecasts
In Brief Ethereum's price fluctuations shift focus to technical indicators among market players. Analysts signal potential recovery and long-term growth opportunities for Ethereum. Competition from networks like Solana raises challenges for Ethereum's market position.

Trending news
MoreCrypto prices
More








