Dec 23, 2019
There’s a long standing argument about the wastefulness of Proof-of-Work mining. To some, Proof-of-Stake is a viable, less wasteful alternative to achieve distributed consensus in a permission-less setting.
In this episode, Brian is joined by Eric Wall, Fund Manager at Arcane Assets, to discuss the thought process that brought Erik, who is a strong Bitcoin advocate, to re-consider Proof-of-Stake as a potential alternative to Proof-of-Work.
The conversations starts by going into Eric’s background in the traditional financial exchange market working with Cinnober on their blockchain strategy. Eric also explains how he got involved with Bitcoin, his approach to Crypto Twitter, and his new fund Arcane Assets.
The two then cover what attracted Eric to Bitcoin before they transition to discuss Proof-of-Stake. The discussion goes into different arguments related to the social costs of both PoW (electricity) and PoS (locked up capital). In the final part of the conversation they also discuss tokenization of staked assets and the interplay with decentralized finance protocols, as well as the role of custodial players.
You can find a summary of Eric’s thoughts on the topic in his
blog post linked below. The Chorus One Podcast will go on hiatus
the coming week. We wish our listeners happy holidays and a great
start into the new year!
"Proof-of-Stake is less wasteful" Blog Post: https://medium.com/@ercwl/proof-of-stake-is-less-wasteful-b2854a191766
Arcane Assets: https://arcaneassets.io
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