Ethereum is the second largest cryptocurrency by market capitalization, after Bitcoin. It is an open-source, decentralized platform that runs smart contracts: applications that run exactly as programmed without any possibility of fraud or third party interference.
Ethereum is currently in the midst of a major upgrade to its network, called Ethereum 2.0.
One of the most anticipated aspects of this upgrade is the switch from proof-of-work (PoW) to proof-of-stake (PoS).
So, will Ethereum go to PoS? The answer is a resounding yes!
The switch to PoS is a major change for Ethereum, and it is one that has been in the works for a long time. PoS is a more efficient and environmentally friendly way of running a blockchain network.
With PoS, users can earn rewards for staking their ETH in the network. This means that users who hold ETH can earn interest on their holdings, just like with a savings account.
The switch to PoS will also make Ethereum more secure, as it will be less vulnerable to 51% attacks. Under PoW, a malicious actor could potentially amass enough computing power to take control of the network.
With PoS, this is much harder to do as users need to stake a significant amount of ETH in order to have a chance of taking control of the network.
So, yes – Ethereum will definitely go to PoS! The switchover is scheduled to happen in 2020, and it is sure to be a major event in the world of cryptocurrency.