It depends. This is still PoW the real magic is DPoS like EOS does it. Haven’t found a real scientific analysis for it, but you cam be sure that there is a reason that there are negligible transaction cost on the platform.
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W odpowiedzi do @renehentschel @mijustin
In the end a more efficient blockchain must than be always compared to centralized systems. This articles try’s it, but isn’t really good at it: https://link.springer.com/content/pdf/10.1007/s12599-020-00656-x.pdf …
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W odpowiedzi do @renehentschel
That paper theoretically proposes that new blockchain tech will be less of a problem. I’m fine if people do the research + develop the tech. I’d just rather not have “money piling into the sector” until the theories are proven.pic.twitter.com/LEBAXmmzqV
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W odpowiedzi do @mijustin
But this isn’t how innovation works all new infrastructures create bubbles. Excess and waste are drivers of innovation. See Wonderland by Steven Johnson and other books. Look at first train routes and asset bubble around them.
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W odpowiedzi do @renehentschel
In today’s context, it’s clear: that methodology doesn’t work anymore. We don’t have the luxury of “move fast and break things” (we’ve broken too many things). A looming climate crisis means everything (especially new tech) needs to be carefully considered.
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W odpowiedzi do @mijustin
You will find Text like this for every technological step in history. If you look into the whole system including banks and all providers blockchain technology get everything an energy saving. What is the argument than?
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W odpowiedzi do @renehentschel
You’re saying that “historically, every technological step forward as borne a commensurate energy output equal to the energy consumption of Bitcoin and other crypto?”
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W odpowiedzi do @mijustin
I didn’t say that even though that actually could be true. Would be an interesting analysis percentage wise on total energy consumption. I said all building infrastructure always produces waste and excess.
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W odpowiedzi do @renehentschel
Yes. But it’s not all equal! That’s the whole point: - Cement is worse than wood frame - Flying is worse than driving - A gaming PC with giant GPUs is worse than a thin laptop We need to actively reduce activities that emit more CO2.
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W odpowiedzi do @mijustin
Why is it not equal? It is already reducing harm if you compare it to gold? We already see Ethereum walking a way from PoW. I am totally for including the carbon cost into the market to find better solutions. Carbon tax might work our other instruments.
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Again, I’m skeptical that ETH is going to be able to successfully move to PoS. (They’ve been trying to move to PoS for a long time). The onus is for crypto folks to demonstrate that real efficiency is possible (before they deploy it at scale).
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