"Because Bitcoin's DMMS is computationally, and therefore thermodynamically, very expensive, alternatives have been proposed which seek to be economically and environmentally more efficient. One popular alternative, proof-of-stake, is frequently proposed as a mechanism for a cheap distributed consensus. As argued by the author in 2014, this is simply not workable."
— Andrew Poelstra (On Stake and Consensus, 2015)
#bitcoin #consensus #cryptocurrency
"Governments see their powers eroded by these technologies, and are taking various well-known steps to try to limit the use of strong crypto by their subjects."
— Tim May (Crypto Anarchy and Virtual Communities, 1994)
#government #cryptography #regulation
