🔄 Vitalik Buterin recently addressed Ethereum users' comments favoring the network's former proof-of-work (PoW) system over the current proof-of-stake (PoS) method.
🛠 Buterin clarified that PoW had centralization issues, which were always intended to be temporary, with the switch to PoS as the long-term goal.
💡 The anticipation of transitioning to PoS deterred the development of specialized mining hardware, preventing centralization of mining power.
📊 Buterin illustrated his point with a pie chart showing dominance by a few large mining pools under the PoW system.
⚡️ The transition to PoS drastically reduced Ethereum's energy consumption by 99.5% following The Merge in September 2022, addressing environmental concerns.
🌱 This shift highlights ongoing debates over blockchain's best practices, including decentralization, security, and sustainability, as the industry continues to evolve.
