Since Ethereum appeared on the market, it has shown its goal of beating Bitcoin. He has tried with various differences in code, organization and even the way they are used.

However, so far they have not achieved their dream. In recent statements its founder, Vitalik Buterin alleges that the update will be able to achieve it.

<strong>Ethereum Migrating To Proof Of Stake Protocol With New Update</strong>

During <a href="https://slideslive.com/38919733/devcon5-hall-a2-day2">Devcon 5</a> , Vitalik commented on Ethereum's new security update. Mainly they change the system they use internally, changing to the consensus test participation algorithm ( <em>proof-of-stake = PoS</em> ).

With the Ethereum PoS update, users would block their ETH in smart contracts in order to validate new blocks. Unlike before, that large amounts of computing power and electricity were invested, as they do in Bitcoin PoW systems.

The more ETH they block, the greater the chances that they end up validating a block. In the PoS system provided by Vitalik Buterin, there is a period of time after a validator creates a new block, during which this block can be questioned and potentially tested to contain illegitimate data.

<strong>To highlight the impact this update will have, Vitalik Buterin commented on the following</strong> :

<em>“The challenger can send a transaction that indicates [the block in question]. That calculation is executed in the blockchain. The blockchain says: "Wait, the real answer is 256 and this guy sent 250, so this guy is wrong." The deposit of the original type is destroyed and the challenger is informed.</em>
<h4><strong>Buterin Believes That Cryptocurrency Is The Future Despite Challenges</strong></h4>
As mentioned previously, Bitcoin uses a PoW system, which is indeed complicated to attack, but it has been proven possible. For this reason, some financial experts have complained about the disaster that Bitcoin would represent to the world if massively adopted. Vitalik Buterin weighed in on the issue  with  the following comment:

<em>“What about the attackers who have a very large extra protocol incentive or simply want to see the world burn? It could be the government. Or hackers who want to have fun. </em>

<em>The critics here say that we are assuming that we have these participants motivated by economic incentives. What if there are people who just want to break the thing [Bitcoin] independently.</em>
<h4><strong>Very high Expectations For New Ethereum Update?</strong></h4>
Vitalik Buterin has placed a high expectation on the next Ethereum update and it remains to be seen if it will manage to outperform <a href="https://www.cryptoknowmics.com/crypto/">Bitcoin</a>.

However previous trends seem to indicate that the altcoin will again fall short considering the gap between the two currencies.

Ethereum Will Overtake Bitcoin With New Update Claims Founder Vitalik Buterin

I am olowoporoku adeniyi, writer, editor and crypto evangelist, with five years experience in the Blockchain industry.

Ethereum Will Overtake Bitcoin With New Update Claims Founder Vitalik Buterin

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