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this post was submitted on 20 May 2024
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Only some (proof of work) crypto is ecologically expensive and wasteful.
Oh there's other's? Guess I haven't read enough.
But how to they manage to be decentralised?
Proof of stake is one method I've seen, but I'm sure there are others.
Interesting, but, giving it a quick scan, some of them look like based on personal trust and others feel kinda chicken/egg-ish.
And I may need to read it properly first, but "holdings" feels like you probably need to buy some of it first, presumably using some other currency.
Yes, that's the usual criticism. To be able to stake, you need to have currency, promoting a rich get richer kind of scheme.
As long as they use energy they are wasteful, considering they don't provide anything constructive for that wasted energy which could have been used for better things.
By this argument any website is wasteful. There's always a "better thing".
Banks also use energy, so banks are wasteful too