Not really. Proof of Work blockchain is backed up by electricity alone but proof of stake is valued on ownership.
Also there's several other lesser used proofs that can be used to back up the blockchain like proof of history, proof involving influential people, proof of memory using hard drive space, etc...
There are obvious pitfalls with these lesser used proofs but if you stack all proofs together in a blockchain, the blockchain would build more trust and be more secure overall.
It would be which is why it's not neccessarily used, but if that is used in conjunction with other trusted proofs and doesn't take precedence over more secure proofs (adds a little to a trusted network like 6% weight for example) it can be useful.
Transactions can be made offline but ultimately yes they need electricity when they go through. However, it's much less electricity and much more secure than our current financial system while still enabling a world where connections can take place over vast distances. You just have to make sure those connections aren't toxic.
Agreed, but still require electricity for offline transactions! Unless they have some sort of paper entry ledger thing but I’ve never come across any such thing or idea relating to crypto.
It actually comes from electricity…
Not really. Proof of Work blockchain is backed up by electricity alone but proof of stake is valued on ownership.
Also there's several other lesser used proofs that can be used to back up the blockchain like proof of history, proof involving influential people, proof of memory using hard drive space, etc...
There are obvious pitfalls with these lesser used proofs but if you stack all proofs together in a blockchain, the blockchain would build more trust and be more secure overall.
All these things operate because of electricity still…well idk about proof of influential people but that sounds like a horrendous idea
It would be which is why it's not neccessarily used, but if that is used in conjunction with other trusted proofs and doesn't take precedence over more secure proofs (adds a little to a trusted network like 6% weight for example) it can be useful.
Transactions can be made offline but ultimately yes they need electricity when they go through. However, it's much less electricity and much more secure than our current financial system while still enabling a world where connections can take place over vast distances. You just have to make sure those connections aren't toxic.
Agreed, but still require electricity for offline transactions! Unless they have some sort of paper entry ledger thing but I’ve never come across any such thing or idea relating to crypto.