While some believe that Ethereum’s upcoming shift to Proof of Stake (PoS) could eventually push the platform to overtake Bitcoin (BTC), others are taking the opportunity to make scathing remarks on Twitter, leading to a rebuttal from Ethereum co-founder Vitalik Buterin.
In a tweet, Bitcoiner Nick Payton called for a “Proof of Stakers” and argued that the vote to change the properties on PoS platforms proves that PoS assets are securities.
Buterin responded to the post, calling Payton’s concepts “a lie exposed, exposed.” According to Buterin, PoS does not include voting on protocol standards, just like Proof of Work (PoW). Buterin also explained that nodes reject invalid blocks in both PoS and PoW.
Last week, author Jimmy Song also came after PoS, questioning the decentralization of the consensus mechanism. According to Song, the mechanism does not solve the problem of the Byzantine generals. Buterin recalled Song’s concepts in a tweet:
Ethereum founder and PoS proponent Charles Hoskinson also gave his view, saying the “level of stupidity” in Song’s tweet was “inexplicable.”
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Meanwhile, Vivek Raman, a decentralized financial researcher, offered positive thoughts on the upcoming merger. In a Twitter thread, Raman said the change to PoS gives Ethereum the economic structure to challenge Bitcoin’s supremacy in the crypto space.
Earlier in July, Ethereum completed a significant trial of integrating into the Sepolia testnet, pushing the platform closer to switching to a PoS consensus mechanism. The developers mentioned that although there are some hiccups, they will not delay the integration process.