RATE Group | Here’s why Ethereum Classic will stick to Proof-of-Work
73883
wp-singular,post-template-default,single,single-post,postid-73883,single-format-standard,wp-theme-bridge,wp-child-theme-bridge-child,ajax_fade,page_not_loaded,,qode_grid_1300,side_area_uncovered_from_content,footer_responsive_adv,qode-content-sidebar-responsive,qode-child-theme-ver-1.0.0,qode-theme-ver-13.3,qode-theme-bridge,wpb-js-composer js-comp-ver-7.9,vc_responsive
 

Here’s why Ethereum Classic will stick to Proof-of-Work

30 Dec Here’s why Ethereum Classic will stick to Proof-of-Work

Posted at 08:13h in Ethereum News by

[ad_1]

On one hand, the Ethereum community has been gearing up for the transition of the network from Proof-of-Work [PoW] to Proof-of-Stake [PoS] with Ethereum 2.0, the members of the Ethereum Classic community, on the other hand, have leaned toward the Proof-of-Work algorithm. The founder of ETC Labs, James Wo previously expressed that ETC wasn’t looking at PoS in general.

Elaborating on the same, Wo, in a recent interview with AMBCrypto, pointed out that these kinds of innovation are really important as they change the ways of issuing cryptocurrencies. Highlighting why Ethereum Classic chose to stick to PoW, Wo said, firstly, PoW cryptocurrencies would be viewed as a commodity.

Further, Wo suggested that PoW is a fully decentralized blockchain, but with PoS kind of mechanism, one can hold more than 50 percent of the supply, which further makes the blockchain more centralized. Since PoW is more decentralized, it upholds benefits like security along with other things, he…

[ad_2]

Source link