/biz/ - Business & Finance

https://www.coindesk.com/consensus-magazine/2023/07/28/why-ethereum-ditching-mining-isnt-better-for-the-environment/
>Lane Rettig, a core developer at Spacemesh and a former Ethereum core developer, about the shift to PoS

>Proof-of-stake is less wasteful: He asserts that the claimed reduction in Ethereum's energy consumption is misleading, as the GPUs (Graphics Processing Units) that were used for Ethereum mining continue to consume energy for other applications. Furthermore, the number of validators in the PoS system still consumes considerable bandwidth and energy, and the emergence of Maximum Extractable Value (MEV) results in high computational power use.

>Proof-of-stake is more secure: Rettig disputes this, saying that a cartel controlling over half of the stake could potentially control the entire network. The attack on a PoS chain is considered easier and less costly than on a PoW chain, owing to weak subjectivity, wherein it relies more on social information than cryptography.

>Proof-of-stake increases profitability: He criticizes the 'Ultrasound Money' meme and suggests that paying validators less could either make the network less secure if they stop validating, or they will need to be compensated in other ways. The opportunity cost of locked capital and the hidden transaction fees due to MEV are cited as additional forms of cost.

Gonna to watch this later
https://youtu.be/_hLvvZGST_E