Gnosis Moves to Proof-of-Stake Following the Mainnet

Ethereum-based Gnosis is a privacy-focused sidechain using the proof-of-authority protocol. It switched to the PoS beacon protocol on Thursday.

The decision by Gnosis devs is something that was largely supported by the community and mimics the merge performed by Ethereum when it rejected the Proof-of-Work model in favor of PoS which was also cited as a good long-term decision considering issues with power consumption and the environmental impact of crypto mining.

Gnosis is another example of many blockchain projects

The decision to switch from proof-of-authority to proof-of-stake is something that reduces redundancy, increases efficiency, and simplifies things for all users.

The current system uses a very complicated vetting process for validators making it a cumbersome system with rigid governance focused primarily on consolidating power in reliable hands.

The proof-of-stake protocol makes it easier to govern, but creates issues related to unwanted centralization.

While these worries have a foundation, it is still a more efficient and less resource-hungry system that should ultimately benefit end users.

The Ethereum merge made many other developers look into opportunities to switch from their validation models to PoS.

Dogecoin developers also talked about the power-hungriness of their network and desire to use PoS too. Gnosis is a network that has a lot of potentials and creates another case in favor of switching. The transitioning was painless and did not cause any issues with performance. If more networks decide to switch, the new standard for the whole industry will be PoS.

Centralization frightens hardcore enthusiasts

Decentralized governance has been one of the biggest selling points of many blockchain platforms.

However, the initial selling pitch was created to aim at a very specific audience of tech-savvy enthusiasts who now comprise only a small fraction of the user base with many interested in high-quality governance and do not mind some centralization.

The scalability issue is another point of discussion with many pointing out that scaling up PoW and PoA networks is harder and demands more resources. We hope that Gnosis shows that switching to PoS is a seamless process that yields benefit for everyone!

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