First of all, the hype of different blockchains has garnered attention. People who fall into the hype hasn’t learned about the financial literacy and the risks of investing into those.
When Axie Infinity became popular in my country, influencers have started promoting the game and so-called scholarship, which is to refer to a new player. Within a few months of playing, people lost money. Influencers haven’t spoken about the players losing money.
Remember, investment into such blockchains carries a risk. Those are called the digital Ponzi scheme by some people.
I thought the same as you about the exciting technological fundamentals before realising that it was unfortunately also very overblown.
Basically Blockchain technology is a solution in search of a problem. It was invented by someone who was convinced that decentralised currency would realise the ancap utopia. In order make it mainstream, people have been trying very hard to find better use cases and it turns out that you always end up concluding that the centralised approach is always better.
Proof of stake could make the thing not too environmentally damaging but it’s been years that major blockchains are saying they will implement it the next year. And again, the use cases would remain weak in the end
There are other cryptographic mechanisms at play, which are amazingly interesting but it is not going to revolutionise the internet since it’s already being used everywhere (for example asymmetrical keys).
I gave a number of real life use cases where it would solve real problems. There are so many more, especially “boring” ones like official documents, research, and medical records that would benefit from it tremendously. Blockchain does not equal crypto, but they complement each other really well.
What do you mean, Ethereum is pos.
I doubt this. With crypto, the ledger needs to be repeated multiple multiple times, it’s incredibly wasteful. There’s no improvement over a central server.
I think it’s super dangerous to take the developers’ word on their product. Probably it’s literally POS, but I’m not gonna believe all the hype without a disinterested confirmation.
If you believe a coin on the scale of Ethereum can lie about whether it’s proof of stake or work, you have no idea what you’re talking about.
It’s capitalist apologia when I correct you on something? Give me a break.
I stand by my original tone, I stated that you have no idea what you’re talking about, which is true, without attacking you with names, expletives etc.
Defending a capitalist projects without evidence or justification is pretty much capitalist apologia.
I didn’t say that they lied about pos. I said it’s probably pos but we needn’t take them on they word about everything, and you’re continuing to insist I said that. And being “you have no idea what you’re talking about”.
You didn’t downright say that they lie about being PoS, but you said that a third party must confirm it, which is an equally bonkers statement. You can check my reply to the other commenter for a small explanation on why that’s true.