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>Dude, proof of stake literally entrenches power to early movers There is no power in validation. Proof of stake requires people who stake to authenticate perf
by ETH_start 3y ago
>Dude, proof of stake literally entrenches power to early movers
There is no power in validation. Proof of stake requires people who stake to authenticate perfectly, or they lose a portion of their stake. You lose nothing from relying on a Proof of Stake network.
>Do gas fees, long transactions times, and global gas wars still plague the ecosystem? If so, the assertion that it is "more useful than physical cash" seems just absolutely hilarious
What is this "global gas wars" you refer to?
Gas fees are quite low compared to international wire transfer fees, and that's ignoring new scalability technologies like zkRollups that reduce those fees more order(s) of magnitude. And unlike money held by a third party custodian like a bank or PayPal/Venmo, you don't have to worry about your account being frozen.
And unlike with physical cash, you can can transfer it digitally across the planet.
The transaction time is consistently 12 seconds since Ethereum moved to PoS. Ethereum doesn't have the issues of 10 minute block times that Bitcoin has.
Your criticism is uninformed.