21–30 of 77 posts
If possible, could the title be modified to spell out what "PoS" means? PoS aliases to "Piece of S***" and "Point of Sale", both of which give the headline a bit of a different impression on what to expect. Though I understand the general consensus is to send in the headline unmodified.
Lol. Ethereum is far from the first cryptocurrency to use proof of stake. Even before modern top 10s like Cardana and Solana, there was Peercoin as the original PoS coin, which at one point was a top 3 coin by market cap. If anything, Ethereum has been dragging it's feet on this. They originally planned to roll out PoS within a couple years after launch, and we're still here 7 years later. That's years of "wasted" pr…
The title is "MIT Chose Ethereum’s PoS As Top Technological Breakthrough", not "MIT declares Ethereum’s PoS As First PoS". Implementation matters more than "first!!11!". Obviously, starting with PoS is gonna be easier than creating a network and currency on PoW and then enabling the transition from PoW to PoS. "Dragging their feet" is a funny way of saying "taking their time to implement it correctly". None of this s…
Legacy PoS tokens, like the USD, achieved legitimacy initially by backing with real money (gold) before eventually cutting ties and trying to stand without hard backing, but instead stand on trust in the institution that controls the consensus mechanism. Ethereum seems to be attempting a similar transition now, cutting itself from a hard energy backing that keeps large stakeholders in check.
At the end of the day, it's all about trust. Ethereum has their work cut out for them to establish large scale trust both in their transition to PoS as well as trust as a free floating currency, backed only by the Ethereum consensus makers, which could secretly be a small cabal of large stakeholders with majority control.
Technology Review is not "MIT", it's an attempt at competing with Wired and Popular Science.
Technology Review is not "MIT", it's an attempt at competing with Wired and Popular Science.
If the people who actually do the hard science and education work that has made MIT a valuable and trusted brand don't like this dilution and selling out of the trust they earned, then they have a responsibility to either push against it or vote with their feet and their attention and stop contributing to the continuation of trust in the brand.
Lol. Ethereum is far from the first cryptocurrency to use proof of stake. Even before modern top 10s like Cardana and Solana, there was Peercoin as the original PoS coin, which at one point was a top 3 coin by market cap. If anything, Ethereum has been dragging it's feet on this. They originally planned to roll out PoS within a couple years after launch, and we're still here 7 years later. That's years of "wasted" pr…
The title is "MIT Chose Ethereum’s PoS As Top Technological Breakthrough", not "MIT declares Ethereum’s PoS As First PoS". Implementation matters more than "first!!11!". Obviously, starting with PoS is gonna be easier than creating a network and currency on PoW and then enabling the transition from PoW to PoS. "Dragging their feet" is a funny way of saying "taking their time to implement it correctly". None of this s…
'Until then, it's not ready yet and we'll see when they actually move to PoS'* (Which at this current time, is more centralized than mining and makes the largest holders even richer).
I don't think I am going to tell someone to wait for 7+ years for something that doesn't exist yet in order to actually 'use it', unless I'm speculating on the price of the cryptocurrency.
Technology Review is not "MIT", it's an attempt at competing with Wired and Popular Science.
This is how they describe themselves:
> Founded at the Massachusetts Institute of Technology in 1899, MIT Technology Review is a world-renowned, independent media company whose insight, analysis, reviews, interviews and live events explain the newest technologies and their commercial, social and political impacts.
Take a look at their website: https://www.technologyreview.com/supertopic/about/
The name "MIT" is literally all over the place. If it wasn't actually MIT, I'd expect MIT to sue these "Technology Review" people.
If possible, could the title be modified to spell out what "PoS" means? PoS aliases to "Piece of S***" and "Point of Sale", both of which give the headline a bit of a different impression on what to expect. Though I understand the general consensus is to send in the headline unmodified.
Earlier quoted context omitted.
Don't get me wrong, plenty of griftcoin junk tech exists, but Ethereum is the most capable platform and moving away from Proof Of Work is a significant step.
They may be grifters and scammers but at least they are not burning down the planet. But I am curious about this: Etherium is not the first crypto to go PoS. Are there any significant technical advantages compared to other PoS implementations?