- Jimmy Song stated that Proof of Stake is the ultimate horse and pony show.
- Charles Hoskinson, the founder of Cardano (ADA), was not a fan of Song’s opinion.
- This Tweet was successful in drawing reactions from other big names in the industry like Ethereum founder Vitalik Buterin.
Jimmy Song, a long-time Bitcoin developer took to Twitter on June 13 and stated that Proof of Stake (PoS) is the ultimate horse and pony show. “You have to vote the way the centralized controllers want or else you lose your money. It’s got all the honesty of a 100% vote in a dictatorship,” says the developer.
Charles Hoskinson, the founder of Cardano (ADA), who was not a fan of Song’s opinion criticized the take and even went to the extent of saying “stupid is back.”
The Tweet also attracted a lot of traction from the crypto community in general. Proof of Stake fans thus also took to Twitter to give Song a piece of their mind.
It is worth noting that these kinds of comments and posts are not a first-time occurrence for Song. The Bitcoin developer has made it his mission to bash Proof-of-Stake networks.
Only last week, Song took to Twitter to describe PoS as the absolute worst consensus network. This Tweet was successful in drawing reactions from other big names in the industry like Ethereum founder Vitalik Buterin.
One of the factors on which Song bases his opinion is the fact that PoS networks have not yet been able to solve the Byzantine Generals Problem, which has hindered these projects from proving decentralized consensus.
Buterin responded to this by stating, “Pro-tip: if there’s a long-established tradition of people debating A vs B based on deep arguments touching on math, economics, and moral philosophy, and you come along saying ‘B is dumb because of a one-line technicality involving definitions’, you’re probably wrong.”
Disclaimer: The views and opinions expressed in this article are solely the author’s and do not necessarily reflect the views of CoinQuora. No information in this article should be interpreted as investment advice. CoinQuora encourages all users to do their own research before investing in cryptocurrencies.