The Security Budget Flaw That Proof-Of-Stake Introduces

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The proof-of-work mechanism in Bitcoin provides security which Ethereum has sacrificed for short-term narrative benefits.This is an opinion editorial by Mickey Koss, a West Point graduate with a degree in economics. He spent four years in the infantry before transitioning to the Finance Corps.Ethereum founder Vitalik Buterin recently voiced concerns about Bitcoins long term security citing relative security budgets based on network fee structures. These concerns are unfounded and structured upon a false comparison between the two systems. Here’s why:First, Ethereum’s proof-of-sta ...

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