'The Proof of Stake Trojan Horse' by CoinDoggie blockchain tatum_io
The meltdown of the global financial systems in 2008-09 prompted "Satoshi Nakomoto" to create a 21st-century version of the old Proof of Work model which was not based on humans' favorite yellow metal, gold. Satoshi created digital gold, and called it Bitcoin.
Fiat currency is essentially the Proof of Stake model. A currency backed by the "full faith and credit" of a nation or kingdom cannot be the same. Humans always seem to end up using some fiat currency because pushing around wheelbarrows full of gold is not terribly practical. Also, moving one's "treasure" around exposes it to attack and can be dangerous. However, the faith and the credit always seem to run out eventually.
Bitcoin and Ethereum cryptocurrencies have been around for a long time now. Mainstream money has been very slow to recognize what cryptocurrency could be. They now want in but the Proof of Work model requires, well…work. Proof of Stake is coming in under the guise of being more green which I think is highly debatable. All across this economy, there are dirty power sources. Singling out the competing monetary model cryptocurrency represents seems targeted. The Proof of Stake crowd will go into great detail about how “mining and rewards” work in the Proof of Stake model.
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