After a lengthy conversation with ChatGPT about the consensus mechanisms that keep cryptocurrencies secure, it gave me its two choices:
- If you are concerned about sustainability and energy efficiency then Proof of Stake would be your choice. Cryptos such as Ethereum use this mechanism.
- If you are concerned with security and battle-tested mechanisms, then Proof of Work is the way to go. Bitcoin runs on Proof of Work.
The world is headed towards a centralized, A.I., Quantum and CBDC-dominated future. In that world, the security of our digital life and money will be paramount, at both the individual and enterprise levels. Proof of Work will be the winner in this new digital world.
