BTC $64,193.61 +0.99%
ETH $1,897.64 -0.36%
USDT $1.00 +0.00%
BNB $601.19 -0.65%
USDC $1.00 -0.01%
XRP $0.9959 -0.51%
SOL $75.88 +0.26%
TRX $0.3330 +0.12%
DOGE $0.0699 -0.60%
XMR $411.69 -0.59%
ADA $0.1733 -0.40%
LINK $9.48 -0.31%
TON $1.60 +0.95%
DAI $1.00 +0.00%
XLM $0.1533 -3.10%
BCH $203.60 -0.59%
One buys security with electricity, the other with capital at risk. What consensus actually secures, the honest trade-offs around energy, concentration and finality, and why there is no single winner.