Proof-of-work is the innovation that drives energy innovation. Proof-of-stake ensures the richest among us will continue their control over others.
This is an opinion editorial by Mickey Koss, a West Point graduate with a degree in economics. He spent four years in the infantry before transitioning to the Finance Corps.
As Ethereum completes its transition to proof-of-stake consensus, I can’t help but notice the plethora of articles citing a 99% reduction in energy usage. The claims, however true, are misguided and counterproductive.