The Cryptocurrency Phenomenon – A Thesis [Part 7]


“In practice, the Proof-of-Stake approach proves to be problematic in systems where the coins “at stake” were not created through Proof-of-Work.”

Today we explore how Proof-of-Work enables the Bitcoin system to achieve consensus without any central point of control. Concluding Section 5 of the incredible Thesis by iterative.capital, “Machine Consensus Via Proof-of-Work.”

Mentioned in the Commentary:
A Proof of Stake Design Philosophy
Critique of Buterin’s Proof of Stake Design Philosophy 

Feel free to send some satoshis or open a channel with the official Cryptoconomy.Life Lightning Node:
03609e92ab6dff378b6a7aca6f856bf5e9d56cadd622bd402a9b03d9a583c817b5@45.37.168.76

Support the show:
Amazon Affiliate – Shop while supporting the Cryptoconomy Podcast!
Shop.Trezor.io Affiliate Link – Secure your Bitcoin with a TREZOR