U.S. Legal and Regulatory News for Digital Asset Holders
Vitalik Buterin, Coinbase Speaker Series
The creator of Ethereum tells Coinbase CEO Brian Armstrong how “we” are “getting rid of” the network’s proof of work mechanism to replace it with one “entirely based on proof of stake”. He adds that this transition depends on Ethereum’s users “abandoning the $50 billion base layer that they know and love and move to the one we consider better. It’s still a leap that people have to take.”
This was one month before the SEC filed the Ripple lawsuit.