[fijter]

This isn't solving a problem, it's just making it a little less worse. Proof of Work by mining is just a plain stupid and wasteful idea. Ethereum is already switching to Proof of Stake which is slightly better (but it still gives the power to the biggest holders since you have more influence with more ETH, leading to more market manipulation by mining cartels).

I think a non-blockchain, Tangle based concept like IOTA uses is a way better future, better in terms of scaling (the more users the better it gets), no transaction fees and, maybe best of all, no mining/miners.

[vorotato]

Proof of work is better than proof of stake as proof of stake makes it easy for those with the most power to forge transactions rendering it useless to anyone who actually sought out cryptocurrency in the first place. Proof of work is just also very bad.