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Vauld Insights 2022-05-16 23:30:00

FTX CEO: Bitcoin Is Neither A Payments, Nor A Scaling Network

CEO of cryptocurrency exchange FTX, Sam Bankman-Fried (SBF), recently said that Bitcoin has no future as either a payments network or a scaling network because of its inefficiency and high environmental costs. He compared the proof-of-work (PoW) system of validating blockchain transactions to proof-of-stake (PoS) blockchains, arguing that PoW is wasteful in nature, given it […]The post FTX CEO: Bitcoin Is Neither A Payments, Nor A Scaling Network appeared first on Vauld Insights.

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