3 ms·
I think this article addresses some legitimate concerns of Bitcoin and PoW, but fails to present a strong argument against cryptocurrency networks running on Pr
by mattdesl 5y ago
I think this article addresses some legitimate concerns of Bitcoin and PoW, but fails to present a strong argument against cryptocurrency networks running on Proof of Stake.
Gini coefficient is a poor metric to describe distribution in a cryptocurrency network. A single user may utilize dozens of wallet addresses, with the majority of their value centralized on only one or two addresses. In some cases, users may deposit value into shared contracts (DAI, WETH, staking, liquidity pools, DAOs, etc), giving the impression that the token balances are unequally distributed across the network. The WETH contract address, for example, is holding $22B USD worth of tokens.
There are many current Proof of Stake cryptocurrencies that would be worth considering and analyzing: Tezos, Solana, Avalanche, Cosmos, Polkadot, Cardano, Celo, Mina.