Vitalik Buterin Accelerates Ethereum To PoS Transition – Invest Now?

The transition from Ethereum to PoS (Proof of Stake) is accelerating – is this a big buy signal, or will the developer not be able to complete this complex task? Ethereum has shown a notable price movement against Bitcoin in recent months. However, the growth of sub-sectors such as decentralized finance (DeFi) and immutable tokens (NFT) revealed their shortcomings. Gasoline costs skyrocketed and Ethereum was slow to verify transactions. Like Bitcoin, Ethereum uses a Proof of Work (PoW) consensus algorithm that consumes large amounts of power to validate transactions. The issuing process is also time consuming, which creates congestion and prevents PoW-based blockchains from increasing transaction volume. The protocol, accused of contributing to environmental pollution, continues to receive increasing criticism from environmentalists. This raises the question of when the transition from Ethereum to PoS or Proof-of-Stake will be complete. The transition from Ethereum to PoS is coming in 2021 Ethereum's founder Vitalik Buterin says carbon footprint concerns may soon disappear. Speaking to Bloomberg Green, Buterin noted that the transition to PoS has become necessary given the rapid growth in crypto last year and the use case of Ethereum. According to the Russian-Canadian developer, he hopes the migration will occur by the end of the year. Buy Ethereum Now Ethereum blockchain is much less attacked than its former cousin Bitcoin when it comes to the growing energy needs of the network. In addition, the continued use of the PoW protocol has significantly increased transaction costs, and the growing customer base has forced many retail users to spend long periods of time before verifying their transactions. Ethereum's transaction speed currently takes 15 seconds, which is bad for a large crypto center. The transition to PoS is seen as a victory for the crypto industry and Ethereum itself. The first beneficiary is its own Ether utility token.

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