Crypto News

Acne Buterin: PoS solve the problem of security and scalability

According to the Ethereum co-founder Vitalik Buterin, a Protocol of Proof of Stake (PoS) scales well, provides not only the immediate transaction, but also an increased level of security.

Ethereum, the second largest block chain, plans to switch from Proof of Work (PoW) to Proof of Stake (PoS) in the next few years.

Speaking at the conference Devcon 5 in Osaka, Japan, CEO of Ethereum noted that the upcoming large-scale work on change algorithms, although long, but very important step for scalability and network security. According to Buterin embedding algorithm PoS will make hacking the system uneconomical for hackers.

This happens due to a key principle underlying the PoS. It lies in the fact that the more ETH blocked by the validator (the greater proportion of it has), the less likely it is that he decides to conduct illegal transaction.

According to Buterin, those who engage in illegal activities, expect large fines. After creating a new block in the chain is checked. If someone can prove that the validator is approved the illegal block, he will be able to get all blocked funds.

Source:forknews.io
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