4 ms·
There are other ways to validate transactions besides proof of work, which is what Bitcoin uses, that can prove that a transaction is valid without using extrem
by ipnon 6y ago
There are other ways to validate transactions besides proof of work, which is what Bitcoin uses, that can prove that a transaction is valid without using extreme amounts of compute power. Proof of stake is a good example.
- Melting_Harps 6y ago> Proof of stake is a good example. Except when the creators want to rerverse all txs and exit scam people that is, hence Ethereum/Classic/DAO BS saga... Proof of stake is like saying 'a square tire works, sometimes...' As an environmentalist and a Bitcoiner: I agree Bitcoins energy use is significant, but it's carbon footprint is the detail that is being ignored as most of its energy sources are renewable and Jack Dorsey, the guy whose company just bought another 150 million, has also put a bounty on making it even more clean. Whereas nothing in the alt space comes close doing what Bitcoin did back in 2013 when China started to move its miners to mainly hydro and to Iceland that use geo-thermal, despite these alts absurd overly valued market cap and valuations that make no sense to anyone given it's lack of utility. We may be on 'Team crypto,' but PoS is so absurd for security that it should be made clear to the non-initiated the many pitflls of centralized system, eg the Foundation and founders like Vitalik, that we all fought so hard to solve with this tech only to see so many projects revert to the same legacy model.