Ethereum appears to be more robust and decentralized on PoS. This was disclosed when Viktor Bunin (@ViktorBunin), a protocol specialist at Coinbase, tweeted the key points discussed in a podcast meeting he had last week.
The effects of the transition on Ethereum
The guests at the meeting were Brian Armstrong, the co-founder & CEO at Coinbase, and Vitalik Buterin, the co-founder of Ethereum. The meeting lasted for over one hour.
While tweeting the notable points examined, Victor Bunin said they established the decentralized nature of Ethereum on Proof-of-Stake (PoW). With access to the internet and computer, anyone across the globe can be an Ethereum Validator.
Further, transactions on PoS are faster, more scalable, and it will consume less energy following the transition from Proof-of-Work (PoW). Also, Vitalik added that the transition to PoS was not obvious at first, adding that it was a little scary at first.
“Ethereum is more robust and decentralized on PoS.
Anyone can spin up an Ethereum validator anywhere in the world with much less capital and technical skills compared to mining. All you need is a computer with an internet connection.”
Also, the report stated that Ethereum Infrastructural operations would remain decentralized regardless of the transition. Again, Armstrong assures that Ethereum will remain decentralized on Coinbase.
Other key discussions
The importance of engineers and scientists was also mentioned. They stated that researchers pictured ideas would only become a reality through joint efforts. They also added that decentralized identity wouldn’t exist by itself. We must create it.
The report mentioned the importance of working together and staying positive. This is because there are still many unsolved problems and uncreated inventions, especially in the crypto world.
Finally, the report added that as crypto is becoming globally accepted, there is a need to build the crypto ecosystem and the future of crypto together. Also, it is important to cultivate the right value and culture, regardless of the centralized or decentralized nature of the community.