4 ms·
And all proof of stake blockchains require trust in some entity. Proof of work solves that problem, it's not just a matter of preference.
by toenail 2y ago
And all proof of stake blockchains require trust in some entity. Proof of work solves that problem, it's not just a matter of preference.
- ben_w 2y agoPoW creates the illusion of solving trust, but it is only an illusion because all things one may purchase with a transaction also require trust. At best, there's also smart contracts, which do have real uses, but they also have limited domain — you can't meaningfully digitally verify the correct delivery of a pizza, or that the pizza is correct as ordered, or that it's even safe to eat. Legal system does all that, but if you've already got a legal system then you don't need to worry too much about trusting the bank either.