What’s Wrong with Proof of Stake?

An early Cuneiform tablet for accounting. Someone owes me some goats.

Mining provides a value anchor for the cryptographic asset in terms of real-world expenditures.

The database record is the asset.

Proof of Stake

Consensus

Coin Allocation

An Ethereum mining operation in Iceland

TL;DR

Ethereum’s determination to move to proof of stake is ill-conceived, and will result in an inflationary destruction of the currency.

Reverse-engineering the universe and remaking money. Ph.D. Theoretical Physics; Bitcoin hacker; SolidX CTO

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Bob McElrath

Bob McElrath

Reverse-engineering the universe and remaking money. Ph.D. Theoretical Physics; Bitcoin hacker; SolidX CTO

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