Ryan Selkis, CEO of Messari, believes that the transition from the Ethereum blockchain to version 2.0, which supports the Proof-of-Stake (PoS) algorithm, will most likely take place no earlier than two years later.
During his speech at the panel discussion entitled “The Smart Contract War Is Coming” (ConsenSys' Ethereal Summit), Ryan Selkis pointed out the main risks accompanying the transfer of the Ethereum blockchain to PoS – the project now uses the Proof-of-Work (PoW) algorithm. Selkis argues his claim that PoS failed to prove its efficiency.
The head of Messari believes that the PoW algorithm, which is now in Ethereum, is quite good, and perhaps even quite good. The expert explains that this algorithm is firmly established in the ecosystem, proving over the past few years, its performance with both Bitcoin and Ethereum.
Note that the transition of Ethereum from PoW to PoS is the most discussed and expected event in the crypto community. It is expected that such grandiose changes will have a positive impact on network scalability, security, and cost-effectiveness. In addition, the PoS algorithm is of great interest to representatives of the crypto-industry because of its high energy efficiency.
Recall that on the eve of the launch of the test network Ethereum 2.0 – Sapphire. More details about this can be found here .
