Vitalik Buterin Offers Hybrid Proof of Stake To Bitcoin Community

Vitalik Buterin, the founder of Ethereum today suggested a hybrid proof of stake solution to the Bitcoin community. He thinks full PoS is unrealistic for BTC and suggested hybrid options‏.

Today, Cobra, the Co-owner of bitcoin.org in a tweet showed concerns about the majority of the hashrate is controlled by a handful of Chinese individuals. He admitted that they have to change the PoW. If they do not change the PoW, Jihan Wu (Co-founder of BITMAIN. Studied Economics and Psychology in Peking University) can censor our transactions at will.

No amount of begging miners to switch pools will cover up the fact that the majority of the hashrate is controlled by a handful of Chinese individuals. We need to admit that we have to change the PoW, otherwise @JihanWu can censor our transactions at will. https://t.co/N1H48MRUg9

— Cøbra (@CobraBitcoin) February 12, 2018

In reply, Vitalik Buterin, the founder of Ethereum suggested a hybrid proof of stake solution. He tweeted:

Would you be interested in considering hybrid proof of stake? I recognize full PoS is unrealistic for BTC community but I’m happy to suggest hybrid options I think are best.

However, Cobra denied the acceptance of the solution offered by him. He thinks that PoS is too alien of a concept, and it would be very hard for the Bitcoin community to adapt it. He added that they can use multiple PoW algorithms, rotate between in some deterministic way.

People have been saying there’s going to be “more competition” for years, and it never appears. Jihan and his cronies are just too far ahead in the game at this point.

— Cøbra (@CobraBitcoin) February 12, 2018

On the flip side, one of the users did not like the solution at all and stated:

I’d like for Vitalik to stay out of Bitcoin development entirely.

However, there were many users who acknowledged Vitalik’s gesture. I personally feel his intention is great since he wants BTC to grow. Having said that, it won’t be easy for the Bitcoin community to accept PoS.

Meanwhile, the cryptocurrencies market was seen trading with a positive bias. You can check Best Performing Cryptocurrency Today – U.CASH, E-coin, Aion and ICON post to know the latest performers in the market.