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PoS violets one of the fundamental tenets of crypto/blockchain - decentralization. Bitcoin uses PoW because it at least had a possibility of avoiding monopolizi
by yashg 4y ago
PoS violets one of the fundamental tenets of crypto/blockchain - decentralization. Bitcoin uses PoW because it at least had a possibility of avoiding monopolizing by ensuring that no single entity will ever come to own majority of processing power of the network. That PoW is slow and expensive is a feature, not a bug. It's a different matter that Bitcoin eventually became centralized in the hands of a few whales who work as a cartel, but PoS makes it all the more easy and ensures that those who have more tokes, will accumulate even more tokens.
All being said and done, all the L2 are just centralization projects. These chains and tokens will always be controlled by a small number of early movers. Eventually, it doesn't even fulfill the very purpose of all these tokens - being peer to peer money.