If you wanted to start a proof of work chain it's actually completely non trivial to get this going. Like how do you get security for this chain when you don't have a community and you don’t have value? So that's the typical like community bootstrapping problem. And we see this in practice from almost anyone on the coin market cap, top 10 blockchains are super easily attacked.
In this Blockchain 101 episode, we sit down with Axel Ericsson of Vest (previously 1Protocol) to talk about Cryptoeconomic Primitives, incentive models, designing smart equilibria, and staking.
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