Staking in Crypto

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BlockchainGandalf

Keir Finlow-Bates

136 episodes

2 days ago

This channel features regular updates devoted to explaining issues surrounding blockchain, from the technical through to economics and philosophy. I also look at tech startup issues, innovation, and the patenting process. You can get a copy of my book at http://mybook.to/moveover or read more about it at http://www.thinklair.com/

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Staking in Crypto

BlockchainGandalf

6 minutes 24 seconds

3 years ago

Staking in Crypto

Staking cryptocurrency assets can serve a purpose for projects - for example, raising liquidity for a decentralized exchange. And I approve of that kind of use, because it serves a purpose.

Unfortunately the use of staking in many projects amounts to nothing more than a complicated Ponzi scheme (and I don't use that phrase lightly).

I suspect that it is a decision that is often just not thought through - the project founders are enthusiastically deciding, "Hey, let's implement a DAO! And let's provide staking!" without considering the ramifications.