- Apr 27, 2000
Yes, and if they thought about it, maybe Vitalik would have had PoS version on Ethereum's birthdate.
But that early period of BTC set the tone, and numerous projects copied BTC to try and ride the mining hype train. It worked for awhile. Now it's really hard to release a PoW coin and get anyone to care. People have huge dGPU setups to point at any new PoW coin that comes online. The hobbyist "democratic" element of PoW is mostly dead. PoS can work now, almost as an allergic reaction to institutional mining schemes. I fear the PoS will quickly degenerate, though. It may result in higher throughput (yay), but it will likely not results in wider distribution of transaction verification (boo).