Defi
Why Proof-of-Stake is Inherently Centralizing.
Checkmate explains why Ethereum moving from Proof-of-Work to Proof-of-Stake will be a monumental blunder.
This clip was taken from the Blockware Intelligence Podcast. Check out the full length episode here: https://youtu.be/m0ITvcdPsXI
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Thanks!… finally someone making sense
Many people don't understand how validators are set up on ETH 2.0. First, you need 32ETH! Who has that laying around? Only the big whales for the most part, which in my opinion, further narrows down the ability to be a validator, creating a sense of centralization. Second, the deposit to become a validator is a non-reversible transaction. This inherently means that only whales will be content with doing this since retail investors, even those with over 32ETH, won't want to make that type of investment. LASTLY, ETH 2.0 isn't scalable and will face congestion issues once there is more adoption, leading to the same issue that is with ETH right now – the gas fees. This will only make the "validators" more money. If I'm right about all three things then this means that the whales keep making more and more money since they are being paid for validation and staking, further centralizing the rewards of the network. In my final remarks, I am thankful for ETH and what it has done for the crypto space but the biggest competitor to ETH is ETH. Moving to POS from POW was a bad decision in my opinion.
PoS is an oligarchy.
Plus most of the nodes run on AWS.
Eth is just trad-fi now. Junk.
Ethereum moving to Proof-of-Stake is the best thing to happen to ADA Cardono
please fix the audio, I have the volume all the way up listening with noise canceling headphones and can barely hear
you guys are legendary MORONS. Cardano is BY FAR the most decentralized blockchain and it is proof of stake.
unregulated things are always gonna centralize, as long as there isn't an incentive to just always have more