The boss of Binance, the world’s largest crypto exchange Changpeng Zhaogave a new interview on Youtube the other day.
CZ is on Crypto Banter, one of the largest crypto channels with 581 thousand followers. Ethereum expressed his opinion on
Zhao said the move to proof-of-stake with the Ethereum Merge update is valuable, but he thinks there could be more to ETH than that. According to CZ, the most important improvement for Ethereum will be on scalability and transaction fees:
“The Merge update is valuable, but it’s not a very clear transformation. There are other blockchains that work with the PoS system. Or there are chains that are staking and claim to be deflationary. But if Etherum finds a clear solution to the scalability and transaction fee problem, that will be the real revolution.”
CZ: The PoW Method Is Not A Bogeyman!
The boss of the leading crypto exchange, also bitcoin and many blockchains use PoW He also talked about the (proof of work) mechanism. CZ thinks there are too many false narratives in the proof-of-work mechanism.
“I think the proof-of-work system is not bad. The energy that Bitcoin uses is somewhat exaggerated by the media.”
Zhao claimed that he was the target because the entire energy consumed by the BTC network was clearly known. However, no one knows the energy consumed by the general banking sector, the giant buildings in the cities. CZ believes that Bitcoin consumes less energy than many industries.
As of now, the leading cryptocurrency Bitcoin is trading at $ 18,800, while Ethereum is trading at $ 1,340.
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