One of the most important aspects of PoW mining is its energy footprint.
To mine blocks, miners must use computers that consume power and generate heat. This makes it more difficult for individuals and companies to run their own large-scale mining operations.
But what if you could create a system that didn't need electricity? What if all you needed was some sort of proof-of-stake algorithm?
Well, I already have! The PoS algorithm has been around since the early days of Bitcoin, but has only recently become popular among cryptocurrencies such as Ethereum and his NEO.
The reason is simple. Because it outperforms PoW in every way. Blockchains can be smaller, transactions are faster, and they don't require expensive hardware or power consumption.