Bitcoin’s Proof Of Work Is Well Worth Its Fees

Bitcoin’s Proof Of Work Is Well Worth Its Fees

While centralized exchanges might think they want to promote proof-of-stake blockchain projects, they misunderstand the value of Bitcoin’s proof-of-work model.Recently, in an apparent response to a largely-flawed critique of stablecoins from the Open Markets Institute, cryptocurrency exchange FTX clarified its position on transaction fees for withdrawals. Its blog post was striking in that it appeared to associate proof-of-work (PoW) blockchains with high fees (which users are partly responsible for upon withdrawal) and proof-of-stake (PoS) blockchains with low fees. The conclusion: FTX....


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