this post was submitted on 14 Aug 2025
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sad thing is that it could be great as an alternative to mastercard/visa but crypto fash have just ruined any attempt to make it appealing to anyone other than crypto fascists.
As I understand it, cryptocurrency funnily enough works awfully as a means of transaction, because the amount of processing power required to make transactions is ridiculously high.
Only for PoW crypto.
If a cryptocurrency concentrates into the hands of a few, as assets tend to do in capitalism, then wouldn't proof of stake mean those few control the cryptocurrency anyway?
If the protocol is badly designed, yes.
In theory, the stakers should only be rewarded for correctly confirming transaction and that capital (staked tokens) should carry no votes in any protocol changes.