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67 - The Altcoin Slayer | Eric Wall

Bankless

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Consensus Mechanisms and Economic Impacts

This chapter provides an in-depth comparison between the proof-of-work and proof-of-stake consensus mechanisms in cryptocurrencies, particularly Bitcoin and Ethereum. It examines the implications of capital locking, energy costs, and the philosophical underpinnings of money as a social construct. The discussion also critiques traditional mining inefficiencies and explores the potential for Ether to be recognized as sound money, while addressing the governance challenges within the Ethereum ecosystem.

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