I've been reading about proof of stake cryptocurrencies for years, and how they will solve the problem of bitcoin's energy usage. Yet the problem persists.
What will it take to end bitcoin's predominance?
What will it take to end bitcoin's predominance?
I don't understand enough to know if it's a design decision or a technological limitation but the barrier to entry for something like chia also seems much lower, hopefully democratizing the ability to participate in the creation/validation side of the network. Chia requires a single ~100GB plot file (and 332 GiB scratch space when creating the plot) to start farming, which is a pretty low bar. I don't have to buy an expensive special purpose bitcoin ASIC and I don't have to stake the equivalent of 68,416.96 United States Dollar (32 eth) to get started and start contributing.