Excellent post.
PoW energy consumption is an Achilles’ heel.
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Proof of stake is basically giving free money to the richest people on the network, those that have enough to stake. At the expense of the rest of the users.
POW is also a POS when a miner have to invest in specialized hardware.
POW also ensures that the newly created coins were not given for free but had a real cost to produce.
The bad thing is energy consumption.
But there have been research showing around 70% of the energy is from renewables.
It could in theory also be used as a way to turn excess energy produced from windpower and otherwise just wasted into more profits from windpower.
If so, mining could even drive investment into renewables. Speeding up its expansion.
Pos is not “basically giving away free coins to the rich” anyone with a low amount of coins can join a pool just like in pow and make a profit unlike in pow where the majority of people cannot afford neither the electricity costs nor hardware to mine
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