3min chapter

Brave New World -- hosted by Vasant Dhar cover image

Ep 42: Antoinette Schoar on Decentralized Finance & Crypto

Brave New World -- hosted by Vasant Dhar

CHAPTER

Are There Really Any Bad State Actors in Cryptocurrency?

Bitcoin miners have an interest to make Bitcoin succeed because their capacity, you know, is most rewarded in Bitcoin. But there are many other proof of work blockchains, like Litecoin, Zcash,. And on top of it, the hashing capacity that is needed to attack some of these smaller blockchain is often several magnitudes smaller than what a miner has on Bitcoin. So we really need to be mindful how we make sure that in the long run, we actually maintain a truly level pay in field or at leastSome form of competition that is beneficial for the users.

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