A $3.3 Billion Claim: Has Cardano's Blockchain 'Solved' Proof-of-Stake? Rachel Rose O'Leary, Jul 12, 2018 at 04:00 UTC https://www.coindesk.com/a-3-3-billion-claim-has-cardanos-blockchain-solved-proof-of-stake/ "... First pitched by developers Scott Nadal and Sunny King in 2012, proof-of-stake offers what is claimed to be a more sustainable alternative to proof-of-work, the consensus method underlying the world's biggest blockchain by market cap, bitcoin. Allowing users to vote or "stake" their coins on a transaction history in exchange for rewards (instead of burning computational energy), it's relatively untested, having so far only been adopted in hybrid, small-scale or delegated formats. So, while bitcoin's security is comparatively proven (its blockchain is currently sustaining $114 billion and has held up for years), many crypto coders believe proof-of-stake is necessary to transition the industry into the next phase, in which users no longer have to own hardware in order to claim a blockchain's rewards. The trouble is, no one can agree on how this should be done." The only way bitcoin and other cryptocurrencies could possibly have any chance of a shot at the slim possibility of potential usability and success is to dump the computational load. I don't think it's going to happen. At least not in a form everyone will get a shot at being a participant. Removing the barrier to entry of investment in a large computational stake would dilute the value of participation. If everyone can make money, the "profit share" would be divided into too small of a "share" per participant. The only way to keep participant earnings high is to put in a barrier to entry - like the computational load - to keep the participation low and concentrate the value high for the few that can afford to scale the barrier to entry. The already rich, to not put too fine a point on it. Greed will stop the "right", "fair" and "good for the environment" solution from being used; the greedy would prefer to burn up precious energy resources to keep themselves on top and rich. So that's how it will play out. Hmmm, why does that sound so familiar? Spoiler: Famous last words... "... Hoskinson told CoinDesk: "The long-term goal is to try to completely replicate all of the security capabilities and functional capabilities that the proof-of-work system has without actually having to expend any of the electricity or effort that proof-of-work does, and it looks like, now that we've put about two-and-a-half years of research into this thread, Ouroboros is now converging to that stage."" The barrier to entry would be created by the Government or "Federal Reserve" toby implementing this method exclusive for their use, locking out all "earning value" participation by individuals. The only individual participation possible would be to pay them to use it by transferring all of your now worthless Cryptocurrencies to the new "legal" system, for a fraction of the fantasy worth.