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by dlubarov 394 days ago
He wasn't ignoring anything, he was pointing out that that criticism is based on outdated information. Almost all modern blockchain designs (from the past ~10 years) do not promote energy waste via PoW.

It's fine to point out the energy waste of more traditional PoW chains (particularly Bitcoin, which accounts for the bulk of PoW), but to frame that as a problem with blockchains in general is misguided.
2 comments
topranks 393 days ago
PoS is sort of hard to bootstrap. ETH moved to it which was quite an achievement, but it’s difficult to see how it might have started that way.

If Bitcoin fails then it seems to me the bottom will fall out of all of crypto So all of it still depends on PoW propping up BTC.

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dlubarov 393 days ago
I wouldn't say there any major technical hurdles to bootstrapping PoS, the project just has to decide where the initial tokens should go - insiders, ICO, airdrops, etc. Many modern chains have been PoS from the start, like Cardano, Solana, Algorand, Avalanche, NEAR, etc.

Or do you mean in the sense that (some argue) the most fair way to do an initial token distribution is PoW with no premine?

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croes 394 days ago
A problem of cryptocurrencies. Blockchains are useful and need less power.

Bitcoin is still the biggest player in the cryptocurrency world, so still a lot of wasted energy.

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