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by nullc
615 days ago
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Proof of stake doesn't solve the problem bitcoin set out to solve. A proof of stake system is essentially just a rehash on the earlier centralized digital cash systems where a quorum of key holders engage in a consensus that determines further updates to the system (including the set of keys allowed to authorize further updates). We didn't need Satoshi to come up with that, that idea was already known. |
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Neither approach seems perfect, the important difference to me is that one approach, sans some technological advance like fusion energy, presents a major ecological problem that has existential risks for humanity.