{"id":290099,"date":"2021-05-25T05:04:24","date_gmt":"2021-05-25T09:04:24","guid":{"rendered":"https:\/\/insidebitcoins.com\/?p=290099"},"modified":"2021-06-03T08:35:32","modified_gmt":"2021-06-03T12:35:32","slug":"vitalik-buterin-fast-tracks-ethereum-migration-to-pos-invest-now","status":"publish","type":"post","link":"https:\/\/insidebitcoins.com\/news\/vitalik-buterin-fast-tracks-ethereum-migration-to-pos-invest-now","title":{"rendered":"Vitalik Buterin Fast-tracks Ethereum Migration to PoS \u2013 Invest Now?"},"content":{"rendered":"
Ethereum migration to PoS (proof of stake) is being speeded up – is this a big buy signal or will the developer fail to deliver o n this complex task?<\/p>\n
Ethereum has posted remarkable price action relative to Bitcoin in the past few months. But the growth of sub-sectors like Decentralized Finance (DeFi) and non-fungible tokens (NFTs) have exposed its flaws. Gas fees have shot up, and Ethereum has been slow in validating transactions.<\/p>\n
Like bitcoin, Ethereum uses a the proof-of-work (PoW) consensus algorithm that consumes large amounts of energy in validating transactions. The ‘mining’ process also takes time to complete, causing congestion and preventing PoW-based blockchains from scaling up transaction throughput.<\/p>\n
The protocol, which stands accused of being a contributor to environmental pollution, continues to draw mounting criticism from environmentalists. This begs the question of when Ethereum’s migration to PoS or Proof-of-Stake will be completed.<\/p>\n
Ethereum founder Vitalik Buterin says the carbon footprint concerns may be coming to an end soon. Speaking to Bloomberg Green<\/a>, Buterin noted that the migration to PoS protocol has become necessary given the rapid growth of crypto and Ethereum’s use case in the past year. According to the Russian-Canadian developer, he hopes the migration will be made by the year’s end.<\/p>\n