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Charles Hoskinson Trolls Ethereum PoS Model, Mentions Comics by Scott Adams

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Sat, 24/12/2022 - 12:20
Charles Hoskinson Trolls Ethereum PoS Model, Mentions Comics by Scott Adams
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Charles Hoskinson, founder of IOG, the company behind the Cardano Foundation giant, has taken to Twitter to once again troll the PoS model that was implemented by the Ethereum chain in September this year.

It was introduced by Ethereum during its long-anticipated Merge upgrade, which was expected to push the price up significantly.

Hoskinson referred to comics by Scott Raymond Adams, the creator of the Dilbert comic strip. These were about being unable to withdraw crypto from an exchange, which is exactly the situation with Ethereum staking now.

This is not the first time the founder of Cardano has complained about the way Ethereum introduced proof of stake.

Problem with Ethereum PoS Hoskinson keeps mentioning

Ethereum staking was launched in early December 2020, and the Merge upgrade, which would include transfer to PoS, was expected since then as part of Ethereum 2.0 future integration.

The upgrade was finally made in the middle of September this year after constant delays — two years since Beacon Chain was launched. However, after Merge was implemented, it turned out that withdrawals of ETH from the deposit contract are not allowed until the next upgrade of Ethereum — Shanghai. The latter is scheduled six months after Merge, in the first quarter of 2023.

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"Philosophical difference between Cardano and Ethereum"

Hoskinson has already mocked Ethereum PoS for this several times, since proof of stake on the Cardano chain allows users to withdraw their ADA from staking pools anytime. Besides, their ADA coins do not even have to be moved from their private wallets to be staked.

In one of his tweets published this fall, Hoskinson said that Cardano stakers do not have to be wealthy, unlike those on the Ethereum network, and that is the philosophical difference between the two blockchains. This was Hoskinson's comment on a Discord message of Micah Zoltu, founder of Serv.eth Support, published on Twitter.

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