Vitalik Buterin, the founder of Ethereum, has vigorously defended blockchain's transition from a proof-of-work (PoW) system to a proof-of-stake (PoS) method, amid criticism from some users on social media. Buterin reiterated that PoW was just an interim measure intended to be replaced by PoS, aiming for a more sustainable and less centralized structure.
According to Buterin, PoW presented significant challenges related to centralization, with large mining pools dominating the process. “PoW had its centralization problems, which were forgotten because it was always conceived as a temporary step towards PoS,” said Buterin. He highlighted that large pools like SparkPool, Ethermine and F2Pool monopolized mining, controlling a large percentage of hashing power.
The move to PoS, which was successfully implemented in the update known as The Merge in September 2022, marked an inflection point for Ethereum by reducing the network's energy consumption by an astonishing 99,5%. This advancement allowed not only significant energy savings, but also a notable reduction in the environmental impact associated with the company's operations. blockchain.
Implementing PoS eliminates the need for expensive and specialized mining hardware as transactions are validated by participants who hold and stake their coins, promoting greater participation and security. “By moving to PoS, where transactions are verified via staked tokens, Ethereum has drastically reduced its energy usage,” commented Buterin, highlighting the environmental and strategic benefits of this transition.
This move not only highlighted Ethereum's commitment to sustainable practices, but also catalyzed a broader debate on blockchain best practices considering decentralization, security, and sustainability. Buterin continues to be an active voice in the crypto community, promoting the continued evolution of blockchain technology and practices.
