When Ethereum will switch to Proof-of-Stake? The answer of the head of the Messari

As stated by the Director-General cryptanalytic firms Messari during Ethereum Summit, the transition to Ethereum Proof-of-Stake will not happen until at least 2021. According to Ryan Selkis, the main reason for the delay is that the PoS system has “just not been able to prove its efficiency”.

As he notes, at the moment, the consensus algorithm of PoW can be considered “very good”. The algorithm had a good performance over the last ten years of the existence of Bitcoin, and also over the years Ethereum.

Selkis predicts that the PoW algorithm will maintain “status quo” for another 2-3 years. At the same time, migration Ethereum at PoS “will take much longer than previously thought”. According to a rough count Selkies, it will not happen until 2021.

Recall that the translation of Epirrita blockchain from PoW to PoS algorithm is one of the most discussed and anticipated events in cryptosuite for the past several years. Presumably, the change should help solve the problem of scalability, security and economic efficiency of the block chain. As previously noted, the Creator of Ethereum, Vitalik Buterin, PoS will reduce the energy consumption of the blockchain in a hundred times.

On 7 may, the development company sharding solutions Prysmatic Labs reported the test launch of the Ethereum blockchain 2.0 on the PoS algorithm. The developers of the core Ethereum argue that the first stage of the transition to the new blockchain can be completed by 30 June 2019. As the last week said the founder Consensys and one of the Ethereum founders, Joseph Lubin, Ethereum 2.0 will be more significant than any other project.

Also, according to Lubin, is in the Ethereum project using the best technology and employs the best technologists. In addition, he emphasized the openness of the community around the project and praised cryptoprotection for transparency. In our cryptodata you will find other useful information, go.

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