They may be grifters and scammers but at least they are not burning down the planet. But I am curious about this: Etherium is not the first crypto to go PoS. Are there any significant technical advantages compared to other PoS implementations?
- It's slashing mechanism creates 'economic finality'. Any validator participating in a reorg beyond that ~12 minute economic finality window would find themselves slashed and forced exited from the validator set.
- Lengthy entrance and exit queues mean that the validator set can't be shifted faster then the community can adapt should an attacker try manipulate the network.
- Multiple independent client teams have implemented a publicly agreed upon specification (there are 6 known at the moment). This keeps insider developers from sneaking in adverse changes without causing a huge hullabaloo.
Getting all this right is why it's taken so long to roll out.
Or maybe, just maybe, the author holds a not insignificant amount of Bitcoin and is working overtime to dismiss criticism.
> Or maybe, just maybe, the author holds a not insignificant amount of Bitcoin and is working overtime to dismiss criticism.
No shit Sherlock. This is a ridiculous point to make to try to dismiss someone's argument. If you believe something is a good investment, then of course you're going to own a lot of it and promote your reasoning to think it's good and alternatives are bad. Literally everyone one the planet does that and you're deluding yourself if you think anyone who has put in enough time and effort to understand the complexity of things is going to be bias free.