Stevan Lohja, the technology coordinator at Ethereum Classic Labs, a San Francisco-based Ethereum Classic (ETC)-related blockchain incubator, has argued that proof-of-stake (PoS) consensus algorithms are a “red herring for incorporated through blockchain.” In his interview with CryptoGlobe, Lohja explained: “Proof-of-work (PoW) has miners that stake in hardware, energy, and investment. By definition, anyone storing value on chain has a stake in the chain. PoS chains are incorporations through blockchain because stakers are shareholders and gain voting and validation privileges solely based on x amount of shares.”
