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 "text": "Blockchain transactions will always be expensive whether or not proof of stake is solved, because full participation requires downloading the entire transaction history to verify validity, an extreme redundancy that cannot be removed.",
 "author": {
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  "name": "Wulf A. Kaal",
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 "citation": "Craig Calcaterra, Wulf A. Kaal, Contemporary Decentralization (2021). SSRN: https://ssrn.com/abstract=3782198",
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 "abstract": "If you want to fully participate in the network, you need to download a copy of the entire history of every transaction of every bitcoin in existence. This extreme re- dundancy and inefficiency means transactions will always be expensive.",
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