- When it comes to projecting what kind of solutions future blockchain users will choose, Yakovenko thinks engineering logistics and energy efficiency are the most important elements to consider. I believe it is just more efficient to design a proof-of-stake system because it delivers the same level of security while using far less energy.
- Yakovenko continues, BTC is more tailored to be a store of value than a layer-1 network that can be grown on, and he’s not sure if that will hold up in the long run. I believe that Bitcoin’s ideology and purpose revolve around serving as a store of value, which necessitates maybe the most basic design possible.
- According to the inventor of the smart contract platform, in a new interview with CNBC host Kate Rooney, proof-of-work mining systems will be barren in the future, including the top crypto asset by market cap if it does not make the conversion.
Anatoly Yakovenko, the co-founder of Solana (SOL), believes that until Bitcoin (BTC) moves to a proof-of-stake system, all of its users would shift to alternative platforms. According to the inventor of the smart contract platform, in a new interview with CNBC host Kate Rooney, proof-of-work mining systems will be barren in the future, including the top crypto asset by market cap if it does not make the conversion.
Proof Of Stake System
I believe that the majority of networks that people use will eventually be proof-of-stake networks. This is probably the most divisive thing you’ll get me to say: I bet nobody will use [Bitcoin] unless it switches to proof-of-stake.
When it comes to projecting what kind of solutions future blockchain users will choose, Yakovenko thinks engineering logistics and energy efficiency are the most important elements to consider. I believe it is just more efficient to design a proof-of-stake system because it delivers the same level of security while using far less energy, so why not?
The Most Basic Design Possible
Yakovenko continues, BTC is more tailored to be a store of value than a layer-1 network that can be grown on, and he’s not sure if that will hold up in the long run. I believe that Bitcoin’s ideology and purpose revolve around serving as a store of value, which necessitates maybe the most basic design possible. That may work for the time being, but we’ll have to wait and see what happens in ten years.
ALSO READ: Synonym Software Launches LSP Dubbed Blocktank For Bitcoin’s Lightning Network
Source: https://www.thecoinrepublic.com/2022/04/30/according-to-the-creator-of-solana-until-a-massive-improvement-is-authorized-bitcoin-will-see-a-mass-exodus-of-consumers/