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PoW Is Cultural Error, Bitcoin Should Also Shift To PoS Alike Ethereum- Vitalik Buterin.

The Ethereum co-founder, Vitalik Buterin, is well-known in the crypto world for his constant commentary on the state of the industry. He has already voiced his thoughts and critiques on the biggest cryptocurrency, Bitcoin (BTC). He had remained silent on the subject for a long time, but it reappeared in his latest interview with The Stakeborg. He explicitly mentioned Bitcoin, and, unexpectedly, he also expressed his concerns about Ethereum.

Vitalik Buterin has been involved in the cryptocurrency sector for more than a decade, and he has played a significant role in its development. As a co-founder of Ethereum (ETH), he witnessed the company’s growth from nothing to a $400 billion cryptocurrency. The public has witnessed how Ethereum has changed and reshaped the industry, as well as the presence of key networks.

Buterin shaped Ethereum inexorably, as seen by the latest Ethereum 2.0 and Ethereum London updates. Buterin highlighted his concern in The Stakeborg that, despite ETH’s rapid development, it may still be falling into a “culture trap,” as he put it. He went on to say that he’s concerned about the prospect that Ethereum would exclusively serve the wealthy because of the network’s hefty fees. According to him, some members of the ETH community are already comparing the cryptocurrency to Louis Vuitton.

Nonetheless, he remains optimistic about Ethereum’s future, believing that layer 2 solutions are addressing possible issues.

In terms of Buterin’s thoughts on Bitcoin (BTC), he boldly said that the cryptocurrency “has to migrate to PoS” and added, “PoW is a cultural error.” According to him, Bitcoin’s continued use of PoS might cause difficulties in the future and constitute the “downfall of BTC.” This is a bold statement, given that he has previously chastised El Salvador for making the currency legal money. He also believes that BTC might have an impact on the environment.

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