PoS: A Utopian Fantasy, Not a Realistic Choice

Inside and outside the cryptocurrency circle, more and more people pin their hopes on Proof-of-stake (PoS) to contribute the advantages of cryptocurrencies while avoiding the energy consumption attributes of Proof-of-work (PoW). This wish is destined to fall short, because Paul Sztorc discussed this issue in his 2015 article "nothing is cheaper than proof of work" (Chinese translation available).