Sam Bankman-Fried, the CEO of FTX, a centralized crypto exchange, has attacked Bitcoin’s (BTC) efficiency as a payments network, prompting a harsh response from the crypto community. Bankman-Fried cited environmental concerns about the Bitcoin network’s proof-of-work (PoW) consensus in an interview with the Financial Times, claiming it can’t scale to handle millions of transactions. Alternatively, he promoted the adoption of proof-of-stake (PoS) consensus.
FTX CEO sees no future in Bitcoin payments, community fires back
