Bitcoin is the first successful internet money based on peer-to-peer technology; whereby no central bank or authority is involved in the transaction and production of the Bitcoin currency. It was created by an anonymous individual/group under the name, Satoshi Nakamoto. The source code is available publicly as an open source project, anybody can look at it and be part of the developmental process.
While to many Hoskinson and Buterin seem like antagonists within the ecosystem Blockchain, the truth is that both developers have their points of agreement around certain issues, and one of them is the usefulness of Proof-of-Stake poS is a type of consensus algorithm that rewards validators according to the amount of crypto they have staked. for the future of Blockchain.
- Jimmy Song, developer of Bitcoin, assured that Proof-of-Stake does not guarantee decentralization.
- Buterin and Hoskinson criticized Song’s remarks, discrediting the developer for his words.
- Both Hoskinson and Buterin have differing perspectives on Blockchain a distributed ledger system. A sequence of blocks, or units of digital information, stored consecutively in a public database. The basis for cryptocurrencies. and its future.
- However, they both agree on the usefulness of Proof-of-Stake for the sector Blockchain.
The digital digital technologies are these electronic tools that have the ability to generate, store or even process data. currency currency is a medium of exchange that defines value. ecosystem may pose irreconcilable differences between its main figures, but sometimes it happens that they coincide on certain points, especially when they are quite controversial.
This is what has happened with two figures that are generally seen as rivals within the ecosystem Blockchain, Charles Hoskinson and Vitalik Buterin, who despite their differences seem to have found a point of agreement, and coincided by harshly criticizing one of the developers of Bitcoin the biggest and most popular cryptocurrency in the world. It is a decentralized digital currency that enables users to make trustless peer-to-peer transactions. for his controversial views against the consensus consensus is achieved when all participants of the network agree on the order and content of the blocks in the blockchain. algorithm a process or set of rules to be followed in problem-solving or calculation operations, usually by a computer. Proof-of-Stake (PoS).
Hoskinson y Buterin developer criticized Bitcoin
The fact occurred in response to a comment made by the developer of Bitcoin, Jimmy Song, who in his message criticised the systems PoS used by networks such as Cardano, Ethereum a decentralized open-source blockchain with smart contracts functionality. and many others, asserting that they could not tackle the problem of the Byzantine general and, as a result, do not guarantee real decentralization:
“Proof-of-Stake does not solve the Byzantine General problem, it does not provide a decentralized decentralization refers to the property of a system in which nodes or actors work in concert in a distributed fashion to achieve a common goal. consensus. If you didn’t understand this tweet, then you are completely unqualified to make any claims about Proof-of-Stake.”
Proof-of-stake does not solve the Byzantine General’s Problem. Therefore, it does not provide decentralized consensus.
If you didn’t understand this tweet, then you are completely unqualified to make any claims about proof-of-stake.
— Jimmy Song (송재준) (@jimmysong) July 2, 2022
This is where Buterin and Hoskinson’s answers came in. The representative of Ethereum took the time and wrote the following:
“Pro tip: If there is a long a situation where you buy a cryptocurrency with the expectation of selling it at a higher price for profit later. tradition of people debating A vs B based on deep arguments that touch on mathematics, economics, and moral philosophy, and you come in saying ‘B is dumb because of a one-line technicality involving definitions,’ you’re probably wrong.”
Pro-tip: if there’s a long-established tradition of people debating A vs B based on deep arguments touching on math, economics and moral philosophy, and you come along saying “B is dumb because of a one-line technicality involving definitions”, you’re probably wrong. https://t.co/22N0OaHyz1
— vitalik.eth (@VitalikButerin) July 3, 2022
For his part, Hoskinson was much more blunt and simply shared the following:
“The level of stupidity here is beyond explanation.”
The level of stupid here is beyond explanation https://t.co/2ARGkcpBgG
– Charles Hoskinson (@IOHK_Charles) July 4, 2022
Agreement in the midst of disagreement
For those who don’t know, Hoskinson was originally one of the lead developers of Ethereum. However, certain differences mainly with Buterin about the focus of the network a network refers to all nodes in the operation of a blockchain at any given moment in time. led him to abandon the project, and since then he has been working to design a network that would improve the aspects he criticized at the time.
Thus was born Cardano, a network spearheaded by Hoskinson and the team at IOHK / IOG which is advancing at its own pace, with support the opposite of Resistance, it is a threshold that crypto’s price doesn’t fall below. for smart contracts and use cases based on Blockchain, which will soon receive an update that will bring operational improvements in terms of performance, scalability and reduced transaction costs.
While they are not publicly declared enemies, Hoskinson has been critical in networks to the advance and operation of Ethereum, even raising certain discussions and debates by inviting Buterin to consider certain aspects.
But even though Cardano y Ethereum are different projects,Proof-of-Stake seems to be a point of agreement between both developers, since the first one implements this consensus algorithm since the arrival of the update called Shelley, while the other one prepares everything for the implementation ofThe Merge, process in which it will implement this operative modality in replacement to Proof-of-Work poW is a type of consensus algorithm that rewards validators according to the amount of computational power they have expended. (PoW).
- IOHK confirms that Vasil upgrade is now operational on Cardano test network
- Ethereum to shut down several test networks once The Merge is activated on mainnet an independent blockchain running its own network with its own technology and protocol.
- IOHK launches sidechains for Cardano, the first will allow to run projects originally written for Ethereum
Source: Finbold , Twitter
Version by Angel Di Matteo / DiarioBitcoin
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