“Switching to PoS will make Ethereum safer than Bitcoin”

Ethereum co-founder Vitalik Buterin said that after switching to Proof-of-Stake (PoS), the Ethereum network will become more secure than the Bitcoin blockchain, and the cost of the attack is too high.

At the Devcon 5 conference in Osaka, Buterin said that after switching to PoS, attackers will have to spend a huge amount of money in order for an attack on the Ethereum blockchain to be successful. However, according to the co-founder of the second cryptocurrency capitalization, this is still possible.

“What if we run into hackers who just want to see the world burn? Such an attack can be carried out by any government or hackers who just want to have fun. Critics usually say that hackers have economic motives. What if there are people who just want to break something, regardless of profit? ”He said.

After implementing PoS in the Ethereum network, users will be able to block coins in smart contracts to confirm blocks without using a huge amount of computing power and electricity, as in PoW systems.

If users try to cheat, they will lose their blocked coins. At the same time, the more coins the user blocked, the more weight he has on the network, so hackers who try to attack the network risk a significant amount of money.

Recall that in late August Buterin said that the growth of transaction fees limits the popularity of Ethereum.