Vitalik Buterin, co-founder of the Ethereum project, noted that support for the PoS consensus algorithm will make the ETH blockchain more secure than Bitcoin.
At the conference of Ethereum developers Devcon 5, which took place in Osaka from October 8 to 11, Vitalik Buteren expressed the opinion that after the transition of the blockchain to PoS, it will be much safer than BTC.
After the implementation of PoS, verification and validation of new blocks will be entrusted to validators who will be selected according to their share of coins in the blockchain, that is, unlike PoW, professional and innovative equipment for generating and checking transaction blocks is not taken into account. If the validator violates the rules of conduct, then he will lose the funds allocated for the network.
According to Buterin, a successful attack on the network will require the validation of many malicious blocks, so it will require the use of more blocked means of validators. So, a potential attack will cost too much, so the introduction of PoS can be considered a qualitative improvement compared to PoW.
The transition to Ethereum 2.0, according to the developer, will take about 6 hours, but a full transition can take about 2 years. For many users, the implementation will take place in the background, the distinguishing feature will only be the fact that witness data will be visible during new transactions – they will be processed in Ethereum 2.0.
By the way, on the eve it became known that CFTC could approve ETH-based futures. The representative of the Commission noted that Ethereum is a commodity and the asset cannot be regarded as a security, so it is quite possible that regulated futures will appear on the market soon.
