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Very well written article by lyn alden about money evolution, and it's different aspect troughout history.
A masterpiece conveing on to bitcoin standards, gold and fiat standards.
Discussed in this articles are the below points : Importance of Proof of work, the disadvantages of proof of stake.
Nowadays, various digital assets have expanded on this concept in the form of “proof-of-stake”, “proof-of-history”, “proof-of-transfer”, “proof-of-burn”, “proof-of-space” and so forth. There are multiple attempts at maintaining scarcity of digital networks.
In any form, money is proof of something.
Lyn discuss in her article Fiat money as proof of force as governments oblige citizen to pay taxes and maintain a certain value to a Inflationary devaluating currency
Lyn ends her masterpiece after all the analysis driven, that bitcoin remains the most relaible & best network considered as money Superior than any cryptocurrency existing in the market. :
Whether the bitcoin network ultimately succeeds or fails in the long run, this global distributed ledger backed up by proof-of-work is clearly a form of money, and one that is worth understanding.
Long live bitcoin
Long Live Bitcoin!