Three of the most popular personas in the cryptocurrency industry met each other in one thread, discussing the things the Ethereum network should have done better, or earlier, in the past. The co-founder of Cardano had his own piece of advice for Vitalik Buterin.
The thread that attracted both the Cardano and Ethereum creators began with Van Ness's "unpopular opinion" about the most recent Ethereum Merge update. According to the expert, the update should have shipped to the network sooner, and the last 10 days were the evidence of it.
People often only think of the risk in shipping too soon.
— Evan Van Ness 🦇🔊 (@evan_van_ness) September 25, 2022
There's just as much risk in shipping too slowly.
Vitalik Buterin rushed to agree with Van Ness and said that they should have implemented NXT-like chain-based proof of stake despite the range of reorganization issues and the lack of asynchronous guarantees. The switch to PoS was postoponed due to the mentioned reasons for developers to come up with their own way of implementing the consensus algorithm.
Charles Hoskinson then joined the conversation and stated that the Snow White consensus solutions would have helped Ethereum to switch to PoS much faster, and the network would have gotten rid of the "outdated" and anti-environment PoW algorithm. However, Van Ness, as an Ethereum maxi, did not agree with Charles and stated that his ideas were not useful back in the day.
Unfortunately, most users did not understand what Van Ness meant and thought that he was referring to the price performance of the second biggest cryptocurrency in the industry. In the last two weeks, Ethereum lost almost 30% of its value following unexpectedly high inflation numbers and yet another rate hike.
Alex Dovbnya
Denys Serhiichuk
