Ethereum [ETH]: Vitalik Lists Down Four Major Hurdles in Implementing Proof-of-Stake


Ethereum has been struggling with scalability issues and its move to Proof- Of- Stake (POS) strategy is considered to be the answer to it. But the implementation of POS is not going to be easy as Vitalik recently discussed the four major hurdles that stand in its way to implementation.

Vitalik candidly discusses Ethereum future plans with ETH traders

Vitalik has been a busy man off lately as the second largest coin is struggling to hold onto its position in the crypto world. The recent times have not been the best for Ethereum as the coin has struggled with scalability issues, congestion of network and increasing competition in the Dapp world.

But that hasn’t let Ethereum completely off the shelf as Vitalik and his dev team have been putting every effort to get things in place. To tackle all these issues and to make Ethereum more strong and agile the team has been working on a strategic roadmap which is expected to bring Ethereum back to its glory days. Among the prominent milestones, Ethereum has been exploring PoS as a potential strategy to combat growing scalability issues. The team aims to help the blockchain platform deliver faster “block times” – the time it takes to produce one block.

While POS definitely looks like an answer, Vitalik is well ever it is not going to be easy. He has already identified 4 possible hurdles that lie in the way of Ethereum. These are

  1. Having lower than expected participation rates invalidating
  2. Stake pooling becoming too popular
  3. Sharding turning out more technically complicated than expected
  4. Running nodes turning out more expensive than expected, leading to (1) and (2)

In the interview, Vitalik mentions,

“A lot of Proof-of-Stake systems tend to be more explicitly organized around the idea that there should only be a couple of dozen or a couple of hundred nodes,” “I use my own opinions when designing the part of the Ethereum protocol I do myself.”

One of the concerns Vitalik points out is If validators refuse to adopt the new PoS implementation and validation rates go down, running nodes on Ethereum could become prohibitively expensive. According to him moving to POS model will be a tradeoff but Ethereum’s approach is focused on “emphasizing decentralization, enforcing security deposits for stakers, penalties for rule breakers, and keeping nodes cheap to run,” he added.

POS looks like a holy grail for Ethereum and attaining it in the best possible manner is something that Vitalik and his team will have to seek it out. It would be interesting to see how will they make it possible

Will Ethereum achieve success is dealing with its scalability issues? Do let us know your views on the same.

The post Ethereum [ETH]: Vitalik Lists Down Four Major Hurdles in Implementing Proof-of-Stake appeared first on Coingape.


Share on facebook
Share on twitter
Share on pinterest
Share on linkedin

Follow Us

Most Popular

Get The Latest Updates

Subscribe To Our Weekly Newsletter

No spam, notifications only about new products, updates.
On Key

Related Posts

Bitcoin Crash! Fear? Not If You Use Bear Market The Right Way!

The crypto market has been declining steadily for the past few days. Yet, certain cryptocurrencies displayed great performance. At the time of writing this, the Bitcoin price is sitting at $35,889.87. Let’s take a look at it in more detail. Bitcoin has touched a new low again in the last few hours displaying Bitcoin crash.

Crypto Crash! Will 2022 be a Crypto Bear Market? Here’s what we Know

Bitcoin has reached a new low again in the last few hours. On top of that, the total market cap of cryptocurrencies fell towards USD 1.6 Trillion or around -20%. Major cryptocurrencies continued to lose ground and are now just around their respective support areas. In November, many investors were still hoping for a Bitcoin price of

Bitcoin Crash – Here are 3 things that can SAVE Cryptos

Bitcoin has once again lost massively in value within a short period of time. The price is now just over $35,000. The main cryptocurrency could actually turn into a bear market and continue lower. Let’s talk about 3 things that need to happen for us to become bullish again. #1 Bitcoin Price between $38,000 and $43,000 The first

Bitcoin Crash: Top Crypto Losers Other Than Bitcoin

Bitcoin has once again dropped massively within a short period. At the time of writing this, the Bitcoin price is sitting at $35,302.10. In the last seven days, the BTC price has decreased by almost -18%. The Bitcoin crash could actually turn into a bear market. This post is all about the top crypto losers other than