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Great. What's the counterargument? Just because it's a trope doesn't mean it's not true. PoW is insanely inefficient compared to traditional database technology
by AlexandrB 5y ago
Great. What's the counterargument? Just because it's a trope doesn't mean it's not true. PoW is insanely inefficient compared to traditional database technology, doesn't actually replace "the banking system" (so both have to run at the same time), and in practice only provides theoretical decentralization since most people invest in crypto through intermediaries.
- artursapek 5y agoweb3/Metamask apps like NFT marketplaces are generally used with a wallet (software or hardware+software) which the end user is custodian of; not a third party. Much of the crypto space is moving towards Proof of Stake, including Ethereum. These critics also fail to ever mention that.