The Value Of Bitcoin Proof Of Work

The Value Of Bitcoin Proof Of Work

Not too long ago, in an obvious response to a largely-flawed critique of stablecoins from the Open Markets Institute, cryptocurrency change FTX clarified its place on transaction charges for withdrawals.

Its weblog publish was putting in that it appeared to affiliate proof-of-work (PoW) blockchains with excessive charges (which customers are partly liable for upon withdrawal) and proof-of-stake (PoS) blockchains with low charges. The conclusion: FTX desires to encourage customers to make use of low-fee, less-energy-intensive, proof-of-stake blockchains. We will see the enchantment of associating PoW with extractive, consumer-unfriendly, excessive charges, and PoS with effectivity and user-friendliness. However FTX is mistaken to affiliate consensus and costs.

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