Anthony Di Lorio says these platforms would still offer learning experiences should they fail.
Di Lorio said Ethereum still needs to consider how the PoS switch will serve the platform.
Ethereum co-founder, Anthony Di Lorio, says he is considering investing in Cosmos (ATOM), Polkadot (DOT), and Cardano (ADA) in addition to his current investment in Bitcoin (BTC) and Ethereum (ETH). Di Lorio revealed this in an interview with Kitco news on Wednesday, September 28. He said he is investing in these three smart contract altcoins because of the people involved in the projects.
“I’m always excited about Polkadot and Cosmos, while Cardano is a project that excites me a lot too.” Di Lorio pointed out that he keeps buying “just to see” even though he has seen their potential limitations or problems. He also said he finds it challenging to spend the needed time to identify the possible fatal flaws in these projects since he isn’t among the inner circle working on any of them.
However, projects like Polkadot interest him because of Gavin Wood, while fellow Ethereum co-founder, Charles Hoskinson, is the reason he is interested in Cardano. The Ethereum co-founder said he knows the people behind these projects even if he doesn’t fully understand their plans for these projects.
However, he is sure that they are finding solutions to real-world issues. When Kitco news asked Di Lorio what would happen if these platforms failed, he responded that he would only gain valuable insights from the experiences. “Whether these technologies succeed or fail, they offer incredible learning insights. If they fail, the best thing for me is to ask myself what lessons I have learned from these failed projects.” However, he noted that even in failure, these projects were bold moves to solve real-life issues.
Concerns about Ethereum’s PoS switch
After completing the merge last month, Di Lorio says the Ethereum team would still need to consider how a transition to a proof-of-stake (PoS) mechanism will affect the network. He added that he is most worried about the centralization risks associated with the PoS mechanism. “I am not sure, but sources say it is only two addresses validating nearly 50 percent of all transactions happening on the network.”
Di Lorio further said he is concerned with entities like exchanges struggling with loads of validation. According to him, the PoS system isn’t perfect, and there might be issues along the line which Ethereum never considered, and such cases might result in more enormous risks. However, he further said time would tell whether Ethereum’s PoS switch was the right decision.
That’s when we can conclude that the PoS mechanism is better than proof-of-work or the reverse is the case. While Ethereum’s switch to a PoS mechanism was one of the historic moments in its history, there have been concerns about whether there would be greater censorship on the network. Labrys CEO Lachlan Feeney recently revealed that validators might add to Ethereum’s censorship because they run flashbots’ software.