Re:I Looked into 34 Top Real-World Blockchain Projects So Yo...
by RestlessMind on Tuesday August 02, 2022 @12:17AM
(#32315030)
What are the "very obvious" harms?
A genuine one I am concerned about is the energy consumption of Proof of Work chains. But the tide is shifting towards Proof of Stake, with Ethereum network achieving 2 significant milestones towards that recently (Ropsten, Sepolia) and a third penultimate one (Goerli) planned in the week of Aug 6th. So the main chain's transition towards Proof of Stake is likely to happen in September and Ethereum's energy consumption drops 99% or even more.
Other purported disadvantages (gambling, sucking in capital and brains etc etc) are totally non-obvious and highly debatable.
A genuine one I am concerned about is the energy consumption of Proof of Work chains. But the tide is shifting towards Proof of Stake, with Ethereum network achieving 2 significant milestones towards that recently (Ropsten, Sepolia) and a third penultimate one (Goerli) planned in the week of Aug 6th. So the main chain's transition towards Proof of Stake is likely to happen in September and Ethereum's energy consumption drops 99% or even more.
Other purported disadvantages (gambling, sucking in capital and brains etc etc) are totally non-obvious and highly debatable.