Vitalik Buterin recently made a striking statement about the centralization issues of Proof-of-Work (PoW) systems, particularly in the context of Ethereum’s transition from Proof of Work to Proof of Stake (PoS).
Amidst ongoing debates within the Ethereum (ETH) community, Buterin has clarified the rationale behind the network’s switch to a PoS consensus mechanism.
This significant change, culminating nearly two years ago with ‘The Merge’—which integrated the Beacon Chain with Ethereum’s mainnet to create the Ethereum 2.0 network—represents a fundamental shift in how Ethereum processes transactions and secures its network.
Ethereum one day price. Source: Finbold
As Ethereum continues to adopt its Proof-of-Stake consensus, Vitalik Buterin’s unwavering stance offers a definitive counter to those longing for the previous mining-centric framework.
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