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Author Topic: No doubt POS is centralized  (Read 563 times)
serjent05
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October 07, 2022, 10:01:33 PM
 #61

Well it looks like POS is closer to a centralized system. although not completely centered. However, POS is more widely referred to as environmentally friendly. and it seems that Ethereum is switching to POS because they want to get support from the Government which is more supportive of the POS system that many say is more environmentally friendly. But I actually see that behind the environmentally friendly there is another agenda, which is easier to control because it is closer to a centralized system.
There is no doubt that POS is centralized. But the fact that ETH has moved to POS for government support, I doubt it, just moved to POS, ETH has been investigated by the SEC, from this action it can be seen that ETH and the government are not related and why does ETH need government support?

It is quite simple, ETH needs the government support for adoption.  If the government supports ETH instead of Bitcoin then majority of the government citizen, institution and establishment will tend to use ETH than Bitcoin.

The purpose of moving to POS is because ETH cannot solve problems like gas fees, transaction speed... this makes ETH lag behind its rivals. It can be seen that since ETH gas fees increased, a lot of projects have moved to build on other blockchains and so have users.

They are not on that upgrade yet.  The merge as I read is the foundation of all the possible upgrade that is on the roadmap of ETH.  Once the sharding is implemented, then that is the time when gas fee won't be an issue anymore since it will solve the scalability problem of ETH

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Abiky
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October 12, 2022, 01:04:12 AM
 #62

It is quite simple, ETH needs the government support for adoption.  If the government supports ETH instead of Bitcoin then majority of the government citizen, institution and establishment will tend to use ETH than Bitcoin.

It has always been about getting the most support from the government. Otherwise, investors will look for other alternatives that're "regulatory-compliant". It's sad to say Ethereum preferred to please the regulators by sacrificing decentralization over performance/cost-efficiency. They claim ETH is now 99% energy efficient, but what they're doing is giving all of the power to centralized exchanges. It's a pity since it goes against Vitalik's original vision of making Ethereum the "decentralized platform for unstoppable applications".

There are numerous PoS coins on the market, while PoW coins like Bitcoin and Litecoin are the minority. With further tightening of government regulations, it's possible 99.99% of altcoins will turn to PoS while Bitcoin remains the only decentralized cryptocurrency with PoW consensus. I'm fine with that as long as decentralization/censorship-resistance prevails in the long run. Just my thoughts Grin

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