PoS Consensus And Its Criticism. (And Their Replies)

Ethereum is very close to launching its PoS consensus.
Jimmy Song wrote a tweet regarding ‘The Byzantine Generals Problem.’
Charles Hoskinson says that Song’s level of stupid is beyond explanation.

The Aggrieving Tweets

Ethereum is finally shifting its blockchain from PoW(proof-of-work) mechanism to PoS consensus(proof-of-stake). This is planned to be launched with the most awaited upgrade of this decade, Ethereum 2.0. Ethereum along with many cryptocurrency analysts believe that the PoS consensus will make ETH better than BTC. Well, maybe not everyone agrees with it.

Dear Proof of Stakers,
The fact that you can vote on something to change its properties is proof that it's a security.
Love, Bitcoin
— Nick (@NickDPayton) July 11, 2022

Nick Payton has recently tweeted his opinions on Ethereum, claiming that it is turning into a security. Vitalik Buterin is trying to clarify these tweets by giving as many replies as possible. Buterin calls Nick’s tweet an “unmitigated bare-faced lie.” Buterin explained that just like proof-of-work (PoW) doesn’t votes on protocol parameters, PoS consensus does not. Another point to note, according to Ethereum’s founder, is that the invalid blocks are rejected in both PoW as well as PoS consensus.

Vitalik’s Reply to Song

Recently, Jimmy Song wrote a tweet regarding a problem known as ‘The Byzantine Generals Problem.’ This is a dilemma in game theory, which states that it is extremely difficult for a decentralized ecosystem to come to a decision without the involvement of a centralized party. Buterin replied to this through this tweet:

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

Charles Hoskinson, Ethereum’s Co-Founder and Cardano’s Founder, went as far as to say that the “level of stupid” is ‘beyond explanation.’

The level of stupid here is beyond explanation https://t.co/2ARGkcpBgG
— Charles Hoskinson (@IOHK_Charles) July 4, 2022

The upcoming Merge regarding Ethereum is one of the most awaited moments in the history of cryptocurrencies. The developing team at Ethereum has already finished a trial for the Merge. This is regarding pushing the Ethereum blockchain towards the PoS consensus. There are a few bugs in the software as of now. But they won’t be an issue, according to Ethereum’s development team.

Source: https://www.thecoinrepublic.com/2022/07/13/pos-consensus-and-its-criticism-and-their-replies/