Anatoly Yakovenko, one of the co-founders of Solana, the proof-of-stake based, smart contracts enabled blockchain, issued a series of statements criticizing bitcoin’s consensus algorithm. In an interview on CNBC, Yakovenko stated that bitcoin might lose adoption if it doesn’t change to a proof-of-stake (PoS) consensus algorithm. Other organizations have also attacked bitcoin, hinting at this same change as a possible solution for what are considered drawbacks by some.
Solana Creator Believes Bitcoin’s Proof-of-Work Consensus Algorithm Will Affect Its Usage
Anatoly Yakovenko, one of the co-founders of Solana, the PoS consensus-based blockchain, issued his take when it comes to bitcoin’s proof-of-work (PoW) and how it might affect the leading cryptocurrency in the future. In an interview on CNBC, Yakovenko stated that one of the main differences when comparing Solana to Bitcoin is the energy efficiency of the former. On this, Yakovenko explained:If you look at Solana’s energy report, a single Solana transaction is about two Google searches worth of energy. I think that even among proof-of-stake networks is one of the most efficient ones.Yakovenko further mentioned that, according to his views, most of the networks that people will use in the future will be based on PoS consensus. When asked about the future of Bitcoin in this context, Yakovenko stated:
If [Bitcoin] eventually doesn’t switch to proof-of-stake nobody is going to use it.
+ There are no comments
Add yours