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Well first of all, blockchain technology has become so overhyped that its bound to draw scoffs even if the business case were legitimate. "Blockchain" anything almost sounds like a joke at first pass these days.

But in this specific instance, it is even more ridiculous as one of the biggest concerns surrounding blockchain technology is that it is insanely inefficient in terms of energy usage, and concerns have been raised about how widespread usage of blockchain technology could exacerbate climate change.

It's sad to see YT community members being so ill informed. Proof-of-Stake is coming in leading blockchains such as Ethereum, Polkadot, Cosmos, etc. This is changing. It's a new technology it takes time to improve. Anyway, do your homework before commenting on things you don't understand.

> Proof-of-Stake is coming

There have been so many proposed algorithms on this idea over the past years, yet here we are, still waiting. For now, it's either vaporware or it has a security flaw.

Or, like traditional proof-of-work mining has become, it will coalesce into the very thing it was meant to remove: control by a few powerful and centralized authorities.

Regardless, blockchain is not going to help solve climate change. A distributed carbon credit market is not going to solve climate change.

I want proof-of-stake to work. I really do. But I just don't believe it can anymore...

> There have been so many proposed algorithms on this idea over the past years, yet here we are, still waiting. For now, it's either vaporware or it has a security flaw.

There are several proof of stake networks running right now. Care to elaborate on the security flaws?

http://doyouneedablockchain.com/

Meta, but the text on that page renders awfully. Seems they're scaling the elements by 1.64297 instead of just setting a font-size?!

Result is incredibly fuzzy https://lol768.com/i/AmpAbuseDormMendez

The use of proof-of-waste for cryptocurrency, which allows people to get rich by consuming extremely large amounts of electricity, is one of the worst inventions for the environment since CFCs and tetraethyl lead.

It's sad to see YT community members being so ill informed. Proof-of-Stake is coming in leading blockchains such as Ethereum, Polkadot, Cosmos, etc. This is changing. It's a new technology it takes time to improve. Anyway, do your homework before commenting on things you don't understand.

I don't see how that negates what the parent said. Something better is coming, so what was already done isn't bad?

how do you fix climate change with fucking blockchain?