RE: Will Ethereum's Journey To Merge Lead To A Split?

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PoS is fundamentally less secure than PoW. One of my earliest Hive posts deals with this issue in great detail.

The short summary is that large, financially powerful actors, particularly nation states (which can print money at will), can attack and destroy PoS blockchains (by buying stake) but cannot do the same to a large PoW blockchain like Bitcoin or (currently) Ethereum.

This is because the capacity of existing deployed mining hardware is far greater (many years production) than production capacity of new mining hardware. Thus even the most powerful nation states cannot produce enough mining hardware quickly and secretly enough to be able to attack Bitcoin. Also the diversion of electrical capacity would strain most nation's electrical networks.

PoS is great for a blockchain like Hive that is not primarily focussed on the security of money but on content and DApps.

For Ethereum, for which security of the financial function is critical, the change to PoS is a bad idea. They are trying to be everything to everyone and this is a mistake.

For security of money Bitcoin's PoW mechanism is the absolute best and it will benefit as Ethereum dilutes its security.



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