Proof of Stake

The block chain, and bit coin in particular, is sucking huge amounts of electricity. So are there alternatives? When one the alternatives that hopefully will get figured out soon, is called proof of stake. We should let the people who have a lot at stake chime in for the things that we are bout to decide. In the case of the block chain, it's simple. The more coins you own, and the older they are, the more likely it is that you have a vested incentive for the system you are part of to be seen as reputable.