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Comment by Zamicol | Hacker News Reader

NTF's aren't on Bitcoin. They're on Ethereum which is switching over to PoS.

>They're on Ethereum which is switching over to PoS.

It's been switching over to PoS for years. I distinctly remember articles in 2019 about how they'd switch by the end of 2020, articles in 2020 about how they'd switch by the end of 2021, and here we are in 2022.

The point holds until they actually do make the switch.

Ethereum is already running PoS for over a year.

Just not all of Ethereum is running PoS. All of Ethereum will switch over and it's currently planned for July.

This is only true in an extremely technical sense. For practical purposes Ethereum is not running PoS. When you make an Ethereum transaction you are interacting with the PoW chain. Every single NFT transaction runs on the PoW chain.

Yes, there is also a PoS chain, confusingly also called "Ethereum", and yes it will soon become the primary chain, but that does not negate the fact that today nearly all activity happens on the PoW chain.

Update your facts my friend this criticism is stale and has been superseded by a million major events by now. Read the news or hold back on your deprecated knowledge.

In 2019 you probably read about the launch of the PoS beacon chain, as in the "phase 0" of what was then known as the Eth2 roadmap. Beacon chain launched in December of 2020, and since then the work on the merge has been ongoing, which is the hotswap of the network's consensus from Pow to PoS.

We're now in the phase where public testnets of full PoS Ethereum are running [1, 2]. Ideally, we'll have the merge before the next difficulty bomb goes off in June.

[1] https://kintsugi.themerge.dev/ [2] https://beaconchain.kintsugi.themerge.dev/

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