Ethereum’s Consideration Of An Alternative Mode Of Operation

Rapstan is an Ethereum experimental network (testnet). It was created to afford Ethereum Network an opportunity for a safe future transition from Proof-Of-Work to Proof-Of-Stake. Initially, Ethereum is operating on proof-of-work to mine new coin. PoW has a lot of problems attached to it, and that is why innovators came up with a new design to make for the shortcomings of PoW. Rapstan is a clone of Ethereum network launched in 2016 to run on testnet. While Ethereum operates on PoW, Rapstan operates on PoS. Since the creation of Rapstan network, there has been some few merging between the two networks. Ethereum has adopted some operations on the network. One of such steps, or test-merge, was completed on 8^th June 2022. The co-founder of Ethereum, Vitalik Buterin, says that the network should be set for full merging by August. According to him, before then, there are two more test-merge to be done.

In Anticipation of Ethereum/Ropsten’s Merge
Like it was mentioned earlier, proof-of-Stake was invented to solve the problems of Proof-of-stake. PoS is expected to solve the problems of slowness in transaction execution; it is expected to increase the efficiency and scalability of the ETH network. Presently, Ethererum has to issue 13,200 ethereum to miners for proof-of-work everyday. What a cost for miners! It is expected that the transition to PoS will reduce miners’ daily running cost.

The Sentiment Against Proof-Of-Stake
Although the advent of PoS is to makeup for PoW’s shortcomings, but that does not mean that PoS does not have its own disadvantages. One of the problems will be’ buy pressure’. The ‘buy pressure will replace PoW Sell pressure. Another downside attached to PoS will relate to the stake holdings. The person with high stake holding will have the highest probability of being selected at random to mint new coins.

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Comments

1. peter CARL Pardoe says:

   June 15, 2022 at 11:00 am

   I find this interesting information. Would Ethereum still be available on such as Etoro if the new process is taken on. I presume that I can still continue to invest through that medium
   Peeer Pardoe

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