Proof of work isn’t even close to what original cryptocurrency is about because whoever controls the mining pools controls the blockchain. If you are going to give control of the blockchain to whoever owns crypto vs. whoever owns the most compute, I would think the former is closer to the original idea. I don’t know too many details but I think DPoS looks promising. There’s probably no perfect approach though.
Maybe it worked for a little while, but it clearly doesn’t anymore, and there is no real solution to make POW and co. sustainable, either environmentally or in terms of control of the infrastructure.
Then again, POS gave us NFTs and shit like that.
Basically, trying to improve cryptos is trying to polish a turd either way.
Proof of work isn’t even close to what original cryptocurrency is about because whoever controls the mining pools controls the blockchain. If you are going to give control of the blockchain to whoever owns crypto vs. whoever owns the most compute, I would think the former is closer to the original idea. I don’t know too many details but I think DPoS looks promising. There’s probably no perfect approach though.
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Maybe it worked for a little while, but it clearly doesn’t anymore, and there is no real solution to make POW and co. sustainable, either environmentally or in terms of control of the infrastructure.
Then again, POS gave us NFTs and shit like that.
Basically, trying to improve cryptos is trying to polish a turd either way.