Proof-of-Stake is legacy tech. It& #39;s what corporations and banks have run on for centuries.

It& #39;s outdated and oligopolistic. And yet, still useful for centralized systems.

Proof-of-Work is the new innovation, especially when combined with difficulty adjustments.

Consensus mechanisms that don& #39;t involve work... instead involve governance.

Work is the only thing that can reduce or eliminate governance.

Proof-of-Work systems can be a commodity. Proof-of-Stake is inherently an equity.

I like equities. But equities aren& #39;t commodities...

If anyone needs the full run-through, see my analysis here:
https://www.lynalden.com/proof-of-stake/ ">https://www.lynalden.com/proof-of-...

If you think that means I& #39;m "pro-bitcoin and anti-ethereum" as some do, remember that ethereum is still proof-of-work for good reason. Thus, I kind of respect it.

I& #39;d be more interested in ethereum if it dropped the proof-of-stake conversion and difficulty bomb. But alas...

Either way, bitcoin is the commodity. It& #39;s the digital asset that achieved a distribution pattern, decentralization, and immutability to be considered a commodity rather than an equity. Some hard forks are commodities too.

Most digital assets are equities, and analyzed as such.