Original link: https://www.hellobtc.com/kp/du/08/3993.html
Author: Five Fireball Leader / Source: Vernacular Blockchain
Author | Five Fireball Leaders
Produced | Vernacular Blockchain (ID: helloBTC)
Not surprisingly, we will see a historic moment in the circle next month.
Merge of ETH2.0, ETH is officially converted to POS.
Why switch to POS, and some questions after the switch, the previous article “Ethereum will be merged in August and September as soon as possible: great benefit? Pledge smashing? What about Layer2? “ has already been said.
In terms of user experience, this time is unprecedented. It is comparable to a major operation of changing engines while flying on a flying plane . The impact on you is that it has no impact!
Yes, it has no effect. After all, there will be no change in TPS after this upgrade, and no change in gas cost. Even if the legendary L2 becomes cheaper, we have to wait for EIP4488 to reduce the cost of Call Data by 5. Times, this is estimated to be next year, and there will be more powerful Proto-Danksharding in the future, which will further reduce the cost of L2, just like V God said 0.02 US dollars, at least the next year~
So why do you still say this is a historic moment?
Because of the POW VS. POS that has been torn for countless years for a long time, useless use VS. useful use, I can finally fight with a real knife!
In the future, BTC will continue to POW, ETH will be transformed into POS, BTC will continue to follow its golden road, and ETH will completely become on-chain oil. In the next decade, the two major blockchain representative projects will tell us which theory is right.
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POW VS POS (single refers to Bitcoin’s POW and Ethereum’s POS)
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Who is safer?
This has been arguing for many years, and in fact, there is still no conclusion.
POW supporters say that we have externalities, actual physical mining machines, and energy consumption Blah Blah. This externality brings ecological complexity, making a more complex ecology more robust.
On the POS side, who is more resistant to a 51% attack? Although Bitcoin is safe enough now, 51% computing power is almost an astronomical figure, but after ETH POS, it is more difficult to get 51% of ETH than 51% of computing power, so from this point of view, POS is more difficult Safety.
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Who is more decentralized and more censorship-resistant?
This is also a topic that has been debated for several years. The fact that Tornado was hit by the SEC in the past two days has brought the topic of anti-censorship and regulation to the forefront.
POW supporters say that we are obviously more decentralized. As long as you have a mining machine, you can mine anywhere. The threshold for a mining machine is obviously cheaper than 32 ETH.
POS supporters say that you don’t even look at the concentration of your mining pool, and they are too embarrassed to say that you are decentralized… Of course, now I found that there are basically Lido, Binance, and Coinbase on the POS. Several large “POS mining pools” ”, everyone is actually half a catty, and no one can say that the opposite side has achieved “true decentralization”. As long as our currency holdings are theoretically dispersed enough and the mechanism is non-accessible, we think that both sides are “decentralized”.
The anti-censorship side is also the same. POW said, “Don’t you look at how many POS chains do not use the IDC computer room? The IDC computer room is still closed? More than 60% of ETH 2.0 verification nodes are in OFAC. Within the radius of the attack, V God seems to insist that which node has been censored, we will slash him, more than half of the nodes are there, and no one will be able to say who will slash.
POS is also fighting back. POS needs IDC computer room, POW does not need mine? Wouldn’t it be easier for ZF to close a mine than an IDC room? Even if many nodes are within the OFAC radius, we can change the delegation node, and it is more convenient to re-pledge and re-delegate than to run away with a bunch of miners! You are opening a factory and setting up a location. It is hard to run if you want to. Our POS is hot money, and it’s a big deal to change a place with a shot.
So tell me to see, it’s still a half-hearted situation…
02
Useless vs Useful
For BTC, this has always been a torture of the soul – what can BTC do?
It is said to be digital gold. At least other people’s gold has an industrial purpose. At worst, it can be used as a gold jewelry. BTC can’t really do anything other than transfer it around. Last year, I could buy a Tesla. Laura, the benefits are gone this year. Some people say that Lightning Network and micropayments have been in the works for many years, but they have not improved, and very few people are actually using them.
As a result, outsiders see Bitcoin as useless , like Munger, who directly and publicly advocates that Bitcoin is rat shit.
Insiders, it is useless to look at Bitcoin, because there is no ecology on it, neither Defi nor NFT … All kinds of the latest technological achievements emerge in an endless stream on Ethereum, while Bitcoin will not have anything for a few years. Too big a change… Even after a hundred years, when Bitcoin’s block reward completely disappears, everyone will not know what to rely on to maintain Bitcoin’s computing power and security… TX on the chain has begun to appear in the past two years. In a downward trend, fewer and fewer people directly use BTC wallets and native networks, but more and more people like WBTC.
On the other hand, on the Ethereum side, although the vision of the world computer has been put on hold, the names of the world settlement layer and digital oil are solid, the technology is constantly iterating, and the ecology is constantly expanding. If Moon succeeds in Merge, it may lead to a deflationary path in the future.
Really deflation? Doesn’t that sound like it’s going to take Bitcoin’s SOV – store of value job away? !
That’s why some people call ETH Ultra Sound Money – the ultimate currency.
But BTC doesn’t think so, they have an ultimate killer – useless!
Hey, I’m sorry, it’s just because it’s useless, so awesome!
why? Because there are no competitors! !
As the originator of the blockchain, BTC can be regarded as a totem-like existence. It has no competitors, and it is impossible to have competitors. Its uselessness is its biggest moat.
On the other hand, ETH, although he is the founder of smart contracts, although he is the leader of the public chain, although he has various functions… But! As long as you are useful, you are not a totem, but a product. This market will always try to make products that are more useful than you . The story of the Ethereum killer has never stopped. The earliest NEO and EOS failed… Later, Solana, Avax, Near are currently chasing and intercepting, and there are new generation killers such as Aptos and Sui in front of you…
The vast majority of these killers are doomed, however! What if one day it succeeds? ! After all, it is possible to achieve better technology and stronger ecology than Ethereum. In theory, this possibility exists, but it is impossible to have the second blockchain totem. It has one and only one, which is BTC.
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summary
So is the useless use more durable, or the useful use more violent?
In the next 10 years, I think almost the answer will be revealed.
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