PoS ecosystem and ETH Merge

in SteemCoinPan •  12 days ago 

The biggest cringe in the PoS ecosystem is the presence of centralized exchanges as validators.
They create an insane disproportion and potentially bring about harm to the blockchains they validate.

Let's see the Solana blockchain validator case.
Kraken’s recent failure to validate for nearly 3 days is a case in point.


(Now Kraken has fully recovered its valiadator work)

The core premise of a PoS trustless environment is that no validator has an incentive to act against the network because that would cost them a fortune.
But exchanges don’t have such a risk since they don’t have their own funds staked. Instead, they use their user’s funds.

It’s very easy to spend or lose money that you don’t own.
But it’s even easier if you can’t be held accountable for that. An exchange can get away with murder with an amazing easiness. And that is why we need to concern about the ETH merge.

three major CEX binance, coinbase, krakenfx hold nearly 30% of all ethereum staked.
With the ETH merge chances are this share will grow.
But validation can’t be trusted to exchanges. So, once ETH goes PoS, we have a huge risk on our hands.

Basically, the only thing we all can do is stake $ETH with pools or validators, not exchanges.
But this is only a makeshift remedy.
The community is yet to come up with a real solution. And we must start thinking now before the eth merge happens.

This is not the matter of just ETH, SOL or any other high market cap chains, but also all crypto matters that we now have the trend to move from PoW to PoS with some environmental concenrn and energy inefficiency.
Bitcoin maximalists still storngly are against PoS and any altcoin trends, just saying Bitcoin value and its pure cencept.
It is highly required to think and make better way to mak ecology healthier, this is not the matter of just price.

Source: Sergey from Everstake Pool

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