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Cardano's Hoskinson Slams Bitcoin Developer Jimmy Song for Proof-of-Stake Statement

 


Charles Hoskinson, an American entrepreneur and co-founder of the Cardano blockchains, has voiced his displeasure with Bitcoin developer Jimmy Song's recent criticism of the proof-of-stake consensus mechanism. This comes barely 48 hours after Vitalik Buterin rebuked Bitcoin developer Song.


Hoskinson thinks Jimmy Song's claims are stupid

Jimmy Song claimed in a July 2 tweet that the proof-of-stake consensus mechanism negates the core foundation of blockchain technology — decentralization — because it doesn't really solve the Byzantine generals' problem.

Quoting the tweet in the late hours of Monday, Hoskinson said: "The level of stupidity here is inexplicable." To further support his point, Song explained in a separate tweet within the thread that with PoS it is not possible to determine the validity of a blockchain without referring to a central authority, thereby eliminating the idea of ​​decentralization.


When asked what he thought of Song's claim, Hoskinson simply referred to Po's blockchain paper, "Ouroboros Genesis: Composable Proof-of-Stake Blockchains with Dynamic Availability," where he said Song's claims are addressed here.


Bitcoin Solves Byzantine Generals' Problem With PoW Mechanism"

Hoskinson isn't the only person appalled by Song's arguments, as Ethereum co-founder Vitalik Buterin commented on Song's claims on Sunday. Buterin believes that "single-line" formalities concerning the "definition" of a line of argument should not be the basis for condemning the line of argument.


The Problem of the Byzantine Generals is a theory that describes the difficulties that decentralized systems have when trying to reach consensus without a central authority. Bitcoin uses the proof-of-work consensus mechanism to solve the age-old problem by using miners to serve as independent generals.


However, the proof-of-work mechanism, due to its reliance on mining - an extremely energy-intensive activity - has raised environmental concerns that have led some countries, notably China, to ban or restrict its operations.


The proof-of-stake consensus mechanism aims to solve these environmental problems of proof-of-work, but some Bitcoin proponents and PoW supporters, like Jimmy Song, seem to believe that PoS is not fully decentralized.

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