On September 4, Vitalik Buterin, the co-founder of Ethereum, stated that the blockchain of Bitcoin and Ethereum "sucks" in response to Jameson Lopp, a Cypherpunk.
Jameson Lopp said on Twitter:
@VitalikButerin agrees with @JeremyRubin that the value of ETH will tend towards 0 unless changes are made to the protocol. "
To which, the co-founder of Ethereum Disse:
" I think I was quite consistent in my point of view on the fact that (i) every current blockchain, including ETH and BTC, sucks and ( ii) PoS is necessary.It is not sure why anyone has surprised. "
This is a continuation of the statement series made by chief developer Jeremy Rubin, a leading contributor to Bitcoin and the co-founder of the MIT Digital Currency Initiative on TechCrunch.
Jeremy noted that "The collapse of ETH is inevitable". He predicted that the value of ETH will reach zero. This was followed by Vitalik talking about the topic on Reddit. Vitalik claimed that the article had not provided critical details on the economic and technical terms.
The author claimed that "sometimes" the term "economic abstraction" in the Ethereum community refers to the payment of GAS with a non-ETH token for the transaction of a token based on the Ethereum platform, instead of pay for GAS in ETH.
To which, Vitalik said that in the current state of Ethereum, the declaration is "absolutely true". He also added that if there is no change in Ethereum, all statements made by the author included, ETH collapse to zero will become reality. He also said that the Ethereum community is evaluating two proposals focused on the importance of "paying a protocol-level ETH".
However, it is not in agreement with the statement made by the author on the subject "Prova di Palo" [PoS]. Jeremy said:
" Without ETH, a modified version of Game Trial with a multitude of resources could still decide consent if each node selects a weight carrier for the voting power of all resources (let's call it HD-Po, or Heterogeneous Test Depot Test).
"While it is a research question open to show under what conditions HD-PoS would keep the consensus, consent could be possible if the weight carriers are quite similar "
" Except the part concerning the test of the stake, which would not apply even to Ethereum as it is today "
Vitalik added that he watched in HD-PoS back in the year 2014 and that it is very difficult, probably impossible "to make it".
JP Thor, a Twitterati said:
"There is nothing wrong with Bitcoin." Changing it will make it wrong. "For other blockchains who do not try to be a SoV, they should optimize them and iterare "
to which Vitalik replied:
" I do not think that the vision of "pure SoV" is sustainable, I think the good SoVness is * consequently * to succeed in other forms of utility. "
"One way this could happen is that if a portion of TFrase is burned, then the growth of the cryptocurrency offer the rate becomes * negative *, making it a more attractive SoV than mere cryptos "zero issuance".