This is part of why I find it strange so many people believe crypto is DS driven. Blockchain technology makes it much more difficult for the DS to hide their goings on and print money out of thin air, short stocks that don't exist (naked short), falsify or destroy documents, etc.
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.
This is part of why I find it strange so many people believe crypto is DS driven. Blockchain technology makes it much more difficult for the DS to hide their goings on and print money out of thin air, short stocks that don't exist (naked short), falsify or destroy documents, etc.
Where do you think crypto comes from? That's right, thin air.
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