Earlier today, during a Twitter conversation about miner centralization in Bitcoin, Vitalik Buterin- who created Ethereum– floated the idea of building a “hybrid proof of stake system” to replace the strictly proof of work system currently in use. Vitalik said he realized that a change to a full proof of stake system was an unrealistic expectation for Bitcoin, but he then said there were hybrid options that he would “be happy to suggest”.
Would you be interested in considering hybrid proof of stake? I recognize full PoS is unrealistic for BTC community but I’m happy to suggest hybrid options I think are best.
— Vitalik Buterin (@VitalikButerin) February 13, 2018
After the fiery inferno that has erupted over how best to scale the Bitcoin network to handle more transactions, we probably shouldn’t hold our breath waiting for the method of confirming transactions and earning coins to change significantly anytime soon- although some may argue that it already is. One post by @AlexPickard down past the one where Vitalik made his suggestion pointed out that when the Lightning Network is all the way up and running, it will basically be the type of system that Vitalik is envisioning.
That is what mining + LN is…
— Alex Pickard (@AlexPickard) February 13, 2018
This likely won’t go anywhere, but whatever the outcome, it’s interesting to see the creator of Ethereum joining the Bitcoin discussion…