Saturday, September 17, 2022

Ethereum: “proof-of-work” (PoW) => “proof-of-stake” (PoS)

 The Merge, merged - by a16z crypto - web3 weekly

"Transitioning Ethereum to “proof-of-stake” (PoS) from “proof-of-work” (PoW) – two very different methods for reaching consensus on blocks of transactions – was an insane feat: The update involved hot-swapping the most important component of Ethereum’s architecture, its consensus mechanism, *while it was running*. [One core dev described this as “changing the engine on a moving car”.] All this occurred while maintaining perfect uptime for millions of users, thousands of decentralized applications (dapps), and hundreds of billions of dollars secured."

No comments: