The Inevitable Failure of Proof-of-Stake Blockchains and Why a New Algorithm is Needed (Op-Ed)

The Inevitable Failure of Proof-of-Stake Blockchains and Why a New Algorithm is Needed (Op-Ed)

One of the driving factors behind cryptocurrency is the fact that it is decentralized, meaning that no individual or group controls it. Instead, it is controlled by everyone participating in the particular cryptocurrency's network. The more people in the network, the more resistant it is to different kinds of attacks. A cryptocurrency itself has no “single point of failure,” as it would be said in the computer security world. This means that in order for someone to compromise a cryptocurrency as a whole, they would need to compromise more than one aspect of it. For example, let's say that....


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Quotes

Long term, if Bitcoin gains widespread adoption, I'd expect the Bitcoin price to correlate to how useful people think sending payments, property and contracts anywhere in the world instantly and reliably is. Personally I think this could be more useful than wearing jewelry, but maybe that's just me.

Chris Dixon, Entrepreneur and investor, co-founder and former CEO of Hunch