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RE: Ethereum Proof of Stake: Casper Explanation Part 1

in #ethereum7 years ago

I think the current system is ok, but I can understand why they want to pick PoS. Those in power will always choose self-preservation. It's why it made sense for Satoshi to leave BTC. It had to be fully decentralized. ETH is not like so. You have the developers really governing it like a company. And I agree, like you, that a split sounds imminent because they are playing with fundamentals. They could create a new chain that does PoS, but it's not about giving a new tool for humanity to use, it's about how to do it and stay rich. PoS does that for them. Hence, why I don't agree with it. They should have done that from the start, but it made no sense since they did not have network effect. With Bitcoin growing smart contract capabilities, I think ETH will end up another altcoin that almost made it.