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"If you like PoW, use Ethereum Classic," says Vitalik Buterin

2023 07/19

The Ethereum Community Conference will be held in Paris on July 21, 2022. Vitalik Buterin, founder of the Ethereum Community Conference (ETH), presented his vision for the long-term future of the second largest blockchain project.

Buterin First of all, Ethereum is going through a long and complicated transition to become a stronger system and complete its profound changes. This includes mergers, changes in current monetary policy, transaction processes, security models, etc.

Buterin feels the network will be 55% complete by the time the merger ends or the transition to stake-proof (PoS) consensus is reached. By saying this, he was referring to the general view in the BTC (BTC) community that BTC is 80% done.

Commenting on the merits of PoS, Buterin identified the transition as a huge change with many benefits. This was confirmed by some remaining work in the Ethereum community (PoW) proponents who suggested they change to Ethereum Classic (ETC). "They have a welcoming community [and] a particularly good chain," he concluded.

The full speech is available on YouTube:

As far as changes worth making in the future, Buterin recommends upgrading the quantum resistance. In his words: "Once quantum computers appear, we should upgrade to different cryptography."

Additionally, the Ethereum founder stated that over time, the network will stabilize based on the rate of change:


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