Founder behind one of the largest cryptocurrency Ethereum, Vitalik Buterin went on a Twitter posting spree on how he doesn’t believe in Bitcoin’s Proof-of-Work (PoW), leading towards a heated argument and ridiculing against other crypto influencers.
Director of BHB.Network, Giacomo Zucco, responded to Vitalik with:
I don't believe in proof of work!— Vitalik Non-giver of Ether (@VitalikButerin) December 25, 2018
Zucco brought up that there are three types of people, those who aren’t interested in cryptocurrencies, those who are gullible enough to believe in every altcoin, and lastly those who believe in bitcoin and its underlying technology that will change how we think about currency in the past decade.
Buterin said in his tweet that he doesn’t believe in the underlying technology that helps miners mind bitcoin utilizing a concept known as “Proof-of-Work”. He believes that PoW is no the correct answers and is currently trying to migrate Ehtereum’s system from a PoW to PoS.
While Zucco was just stating his own opinion on the matter, the tweet did go on to attract all sorts of people. There has been tons of discussion and arguments regard PoW and other concepts such as Proof-of-Stake (PoS), and superior to the other.
Tons of research has revealed that PoW is currently affecting the climate and could push global temperature towards a much higher degree. Nature Climate Change research behind this shows that if bitcoin mining continues and gets adopted it could increase the global temperature.
While the heated debate is still ongoing, who’s to say which one is better than the other. Some could argue that PoW works very effectively but there most likely the ones who manage to successfully profit from the said system.
What are your thoughts on this?