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Topic: ETH going PoS is a huge mistake - page 3. (Read 255 times)

legendary
Activity: 2982
Merit: 1069
March 31, 2022, 12:07:26 PM
#5
I don't know if I'm the only person feeling this way right now, Ethereum going PoS is a high mistake, its no deny that PoS always leads to centralization and the whole idea and points of crypto is decentralization, or am I wrong? What do you crypto guru think?

ETH is already in large supply and POW is hardly decentralized anymore as most of the mining occurs in industry level mining farms. POS on the other hand could have more decentralization considering how the micro pools for staking are offered by various platforms. Another good thing about moving into POS is decreasing the dependency on GPUs and electricity consumption which both has been the most critical accusation against the Ethereum as whole.
hero member
Activity: 2268
Merit: 507
March 31, 2022, 11:54:58 AM
#4
I don't know if I'm the only person feeling this way right now, Ethereum going PoS is a high mistake, its no deny that PoS always leads to centralization
Ethereum developers have not yet decided whether they will be fully moving to the POS or not. Chill mate. The beacon chain is active but this doesn't mean if ethereum will be fully moving to the POS. In here i do believe ethereum will be running on the hybrid consensus rather than try to go to the full POS. This is also a risky decision as well.

and the whole idea and points of crypto is decentralization, or am I wrong? What do you crypto guru think?
There are some of keypoints in this case.

1. You defend the decentralization but you will be against regulators who are thinking conservatively about energy consumption. How will you face this?
2. The concern of decentralization.
legendary
Activity: 1876
Merit: 4532
March 31, 2022, 09:50:59 AM
#3
I don't know if I'm the only person feeling this way right now, Ethereum going PoS is a high mistake, its no deny that PoS always leads to centralization and the whole idea and points of crypto is decentralization, or am I wrong? What do you crypto guru think?
Better read the interesting opinion of expert Anthony Sassano
https://thedailygwei.substack.com/p/evenly-distributed-the-daily-gwei?
I also agree with him that 7 years of mining allowed the coins to spread among the majority of crypto users.
hero member
Activity: 910
Merit: 686
March 31, 2022, 09:35:32 AM
#2
Cryptocurrency is a decentralized means of saving money. With bitcoin been decentralized as a cryptocurrency. However, other coins introduced into the market tend to be centralized as they are been controlled by agencies, the main aim of the cryptocurrency is been altered by innovation of new coins(mostly known to be shit coins). Ethereum going to PoS cannot be guaranteed not centralized in the long run.
member
Activity: 208
Merit: 10
March 31, 2022, 09:17:52 AM
#1
I don't know if I'm the only person feeling this way right now, Ethereum going PoS is a high mistake, its no deny that PoS always leads to centralization and the whole idea and points of crypto is decentralization, or am I wrong? What do you crypto guru think?
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