TechFlow news — Ethereum co-founder Vitalik Buterin defended the network's transition to Proof-of-Stake (PoS) on Tuesday via Twitter, responding to arguments claiming that assets using such a consensus mechanism could be classified as securities.
Nick Payton, Executive Editor at Swan Bitcoin, stated on Tuesday, “You can vote to change its properties, which proves it’s a security.” He concluded with “Love, Bitcoin,” expressing support for the Proof-of-Work (PoW) consensus mechanism.
Vitalik Buterin rejected this claim, calling it a “straight-up, naked lie,” and added that PoS does not involve voting on protocol parameters, just as PoW does not.
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