The crypto and blockchain-centered book authored by the crypto entrepreneur enters the market less than two weeks after the Merge upgrade that transitioned the Ethereum blockchain from proof-of-work (PoW) to proof-of-stake (PoS). Community members have lauded the project founder in this regard.

Earlier in August before the Merge upgrade, Vitalik Buterin disclosed that he was working on a book that contains various writings he has made over the last decade. The proof-of-stake consensus advocate also revealed the release date of the book, citing that his share of profits made from the book sales will be donated to the gitcoin grants public goods. 

In a Tuesday update, Buterin wrote to his 4.3 million Twitter followers, “Proof of Stake”, the (physical and digital) book compiling various writings I’ve made over the last ~10 years, is finally out!” He also added a link through which the Ethereum and blockchain-centered can be ordered, thanking all those who contributed to the successful release of the educational material. The online bookstores and retailers of Vitalik Buterin’s Proof of Stake book include Amazon, Walmart, Books-A-Million, Seven Stories, Powells, Indie Bound, Target, Barnes & Noble, and Hudson.  

"Proof of Stake", the (physical and digital) book compiling various writings I've made over the last ~10 years, is finally out!

Orderable here:https://t.co/SekZgammU8

Big thanks to @ntnsndr @7StoriesPress and everyone else who helped make this happen!

— vitalik.eth (@VitalikButerin) September 27, 2022

It’s worth noting that the newly released book centers on the making of the Ethereum blockchain and the philosophy of blockchains. It is said that this book comes as the project founder seeks to make further contributions to the crypto and blockchain ecosystem. As stated by Laura Shin, a podcast host, and author, the book is “a crucial contribution to the development of a new technology that will impact all our lives.” 

“These writings, collected from his essays before and during the rise of Ethereum, reveal Buterin to be a vivid and imaginative writer, with context from media studies scholar Nathan Schneider. While many around him were focused on seeing the value of their tokens rise, he was working through the problems and possibilities of crafting an Internet-native world,” the about section of the Proof of Stake book reads. Recently, Vitalik Buterin equally published a blog post where he envisioned the future of blockchain platforms, sharing his visions regarding layer 3 protocols.

Meanwhile, there appears to be an increasing adoption of the development implemented on the Ethereum blockchain. As reported by Timestabloid, active node validators on the Ethereum network have surpassed 436,000 while the total number of staked Ether (stETH) is almost hitting the 14 million mark. However, the Ether token has declined largely in the past two weeks after the merge upgrade was successfully activated.

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In a few days, Ethereum (ETH), which is the second largest crypto project by market capitalization, will no longer be associated with the proof-of-work (PoW) consensus algorithm mechanism. Courtesy of the merge upgrade set to happen around mid-September, Ethereum will adopt the proof-of-stake (PoS) concept. 

In light of this, several arguments have been put forward by PoW advocates, crypto miners, and Bitcoin (BTC) maximalists, in particular. In a recent scenario, Vitalik Buterin, one of the founders of the largest smart contract platform said in defense of PoS that PoW punishes cryptocurrency miners with insignificant hash power. 

“Proof-of-work (PoW) penalizes anyone who has a smaller percentage of hash power than their percentage of the coin supply. Actually, it penalizes much more than that because profit < revenue,” Vitalik Buterin responded to a PoS critic, Udi Wertheimer. 

And PoW penalizes anyone who has a smaller percentage of hashpower than their percentage of the coin supply

(Actually, it penalizes much more than that because profit < revenue, but you get the point)

— vitalik.eth (@VitalikButerin) September 12, 2022

Read Also: Google Shows Support for Upcoming Ethereum (ETH) Merge

It is worth noting that Udi Wertheimer is a popular Bitcoin maximalist and ex-Blockchain research head at Colu. In a Twitter post, he shared some unpopular viewpoints about proof-of-stake as he aimed to portray the flaws of the consensus algorithm mechanism. Ultimately, he argued that staking rewards are not real yields. 

In his words, “PoS rewards aren’t “yield”, in fact, they’re not even rewards, they are just penalty to people who don’t stake. You don’t get paid for staking, you just get penalized for not staking.”

“Miners and holders are usually distinct sets with very little overlap, so in practice, it’s just holders paying miners. With liquid staking, you can expect holders and stakers to have a huge overlap. So basically just everyone’s balances increase equally.”

He added, “All else being equal, it’s [PoS rewards] better for holders but it’s not yield! It’s just less penalties (also, not all else is equal). 

PoS rewards aren’t “yield”, in fact they’re not even rewards, they’re just penalty to people who don’t stake

you don’t get paid for staking you morons

you just get penalized for not staking

i can’t believe you still don’t get it lmao

— Udi Wertheimer (@udiWertheimer) September 12, 2022

Although Ethereum was created as a proof-of-work (PoS) blockchain, Buterin has always been an advocate of proof-of-stake (PoS), which justifies the approaching Merge upgrade and his soon-to-be-released book titled Proof-of-Stake.

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The post Here’s What Vitalik Buterin Thinks of Proof-of-Work as He Defends Proof-of-Stake appeared first on Times Tabloid.

The event played out today after the move was first announced on the 3rd of June 2022 via a blog post published on the official website of the Ethereum Foundation.

Read Also: Buterin Explains How to Create Algorithmic Stablecoins That Don’t Become Ponzis or Collapse

Ropsten has activated proof-of-stake! pic.twitter.com/TKQ8LSJGt6

— ً (@lightclients) June 8, 2022

Ropsten’s proof-of-work PoW) chain was merged with its proof-of-stake (PoS) beacon chain via the combination of their codes.

The test merge recently conducted is critical to check if client software using Ethereum nodes performs without malfunctioning. The Client software teams that participated in the merge include Lighthouse, Lodestar, Prysm, Teku, Besu, Erigon, go-ethereum (get), and Nethermind.

The same process is set to happen later this year with the Ethereum mainnet merge. In effect, today’s event was intended to serve as a major practice session for the mainnet merge, which will see Ethereum transition from PoW consensus to PoS.

A few hours ago in a Livestream, co-founder of Ethereum (ETH) Vitalik Buterin, said:

“I mean, of course, the merge working well for 6 hours isn’t evidence of complete success. There are all of these kinds of longer-term issues around MEV and staking centralization and protection against DOS attacks and things that could potentially bite us 3 weeks after the merge instead of 2 minutes during the process.”

Read Also: Vitalik Buterin Introduces Soulbound Tokens (SBTs), the Future of Ethereum and NFTs

Previous tests included a shadow fork on the main network in April and another test merge on Kiln.

Today’s test is measured by a metric called terminal total difficulty. The merge is considered activated once this level of block difficulty is reached on the proof of work version. The proof-of-work version of Ropsten crossed a pre-set 50 quadrillion measure to protect the merge from any malicious activity by artificially acquiring the hash rate.

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