Ethereum founder Buterin is concerned about Bitcoin’s security
The founder of Ethereum (ETH), Vitalik Butern, has expressed concerns about the long-term sustainability of Bitcoin’s (BTC) security. Buterin outlined two reasons why he is concerned about the security of Bitcoin in the future to Bloomberg columnist Noah Smith in the interview conducted over email, published on September 2. Buterin is concerned that the fees alone will not be enough incentive for miners to safeguard the network.
It is important to keep in mind that the only time miners who validate transactions or blocks will be eligible to collect transaction fees as rewards is when all of the Bitcoin has been mined. Buterin argues that it is very improbable that the Bitcoin network will be able to earn the amount of fee income necessary to keep the system running. Second, Buterin claims that the Proof-of-Work (PoW) consensus process has a vulnerability.
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