Tezos Co-founder Kathleen Breitman on Proof-of-Work Versus Proof-of-Stake, and the Upside of the 'Crypto Winter'

Tezos co-founder Kathleen Breitman appeared on Bloomberg's Crypto Report last week to give her opinion on the state of the industry.

In an appearance on Bloomberg's Crypto Report last week, Tezos co-founder Kathleen Breitman offered her thoughts on the slowdown in Bitcoin mining in Texas caused by extreme heat. She also touched on the benefits of Proof-of-Stake versus Proof-of-Work, and gave her opinion on the positive aspects of the so-called 'crypto winter'.

You'll find extracts from Kathleen's appearance below, and you can watch the entire video at the top of this page.

On Proof-of-Work versus Proof-of-Stake:

Bitcoin miners and promoters who tout the greatness of Proof-of-Work tend to argue that it's like a battery. And it's really not the case. A one-way battery is not a battery. [...] In fact, it's just a massive suck on the grid.

Most cryptocurrencies that have launched in the last few years use Proof-of-Stake, mostly because it's the best technology in-class. A lot of the arguments about Bitcoin and its energy use are because [Proof-of-Work] is like this weird vestigial organ that has been attached to Bitcoin, that has a sort of reverence [from Bitcoin evangelists] for no good reason.

On the fallout of the 'Crypto Winter':

It's completely unsurprising that something like Celsius could go bankrupt, because economics does have laws that transcend just the word 'blockchain', contrary to popular belief [promulgated] by some people who monitor this stuff, and analyze it. [...]

We've just seen a lot of shakeout from things that wouldn't have worked. You can't make a sustainable protocol or business based on the theory that 'number will always go up'.

Source: Bloomberg


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