The highly anticipated Ethereum Merge successfully transitioned from a proof-of-work to a proof-of-stake consensus algorithm on September 15. There has been a lot to read about this in the ethereum news.
Ethereum co-founder Anthony Dilorio said that due to the Merge, there was a “good chance” that Ethereum would overtake Bitcoin. Yet they continue to struggle with the problem of centralization.
Ethereum founder invests in other altcoins
Last Wednesday, Di Iorio told in an interview with Kitco News why he invested in some other coins as well.
Di lorio says he is next to bitcoin (BTC) and ethereum (ETH) also keeps his eyes on gimbal (ADA), polka dot (DOT) and cosmos (ATOM). In the interview, Di lorio says that he keeps stock of the three smart contract altcoins, mainly because of the people who work on these projects.
Di lorio said he has always been excited about Polkadot, Cosmos and Cardano and to see what they can do. “Each of them has what I’ve seen as potential limitations or potential problems, but I’ll just keep buying to see,” he added.
“I’m not into the ins and outs of other projects, and sometimes it’s hard to spend the time it takes to dig and see where their potential fatal flaws might be, but projects like Polkadot… are done by Gavin Wood , another co-founder of Ethereum. Cardano with Charles Hoskinson. I know the people behind it, and I don’t know where they’re going, but they’re trying to solve problems.”
Di Iorio is concerned
Di Iorio is very concerned about the exchanges with a lot of power. The system is imperfect and, he says, anything can happen at any time, leading to far more risks.
“Ethereum has always done well in my opinion not to sacrifice decentralization,” he stated. “But is that possible for 100 percent? I’m not sure… I’m concerned about the centralization risks of proof-of-stake.”
Di Iorio was concerned about centralization issues after the recent Ethereum Merge.
