Lyn Alden on PoW vs PoS:
https://ift.tt/a9jUweE
>Proof-of-Stake is legacy tech. It’s what corporations and banks have run on for centuries.
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>It’s outdated and oligopolistic. And yet, still useful for centralized systems.
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>Proof-of-Work is the new innovation, especially when combined with difficulty adjustments.
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>Consensus mechanisms that don’t involve work… instead involve governance.
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>Work is the only thing that can reduce or eliminate governance.
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>Proof-of-Work systems can be a commodity. Proof-of-Stake is inherently an equity.
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>I like equities. But equities aren’t commodities…
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>If you think that means I’m “pro-bitcoin and anti-ethereum” as some do, remember that ethereum is still proof-of-work for good reason. Thus, I kind of respect it.
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>I’d be more interested in ethereum if it dropped the proof-of-stake conversion and difficulty bomb. But alas…
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>Either way, bitcoin is the commodity. It’s the digital asset that achieved a distribution pattern, decentralization, and immutability to be considered a commodity rather than an equity. Some hard forks are commodities too.
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>Most digital assets are equities, and analyzed as such.
-[Lyn Alden](https://twitter.com/LynAldenContact/status/1493426204636033027)
Cryptocurrency
