EPISODE · Apr 1, 2025 · 46 MIN
Crypto’s Fatal Flaw: Trust, Scale, and the Economics of Blockchain
from The Pie: An Economics Podcast · host Becker Friedman Institute at UChicago
Crypto’s most groundbreaking innovation, permissionless consensus, may also be its greatest vulnerability. In this episode, Chicago Booth economist Eric Budish breaks down the core mechanics of blockchain trust, the staggering energy costs behind mining, and why these systems are fundamentally exposed to majority attacks. Tune in for a deep dive into the economic limits of cryptocurrencies, and what they mean for the future of decentralized finance.
What this episode covers
Crypto’s most groundbreaking innovation, permissionless consensus, may also be its greatest vulnerability. In this episode, Chicago Booth economist Eric Budish breaks down the core mechanics of blockchain trust, the staggering energy costs behind mining, and why these systems are fundamentally exposed to majority attacks. Tune in for a deep dive into the economic limits of cryptocurrencies, and what they mean for the future of decentralized finance.
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Crypto’s Fatal Flaw: Trust, Scale, and the Economics of Blockchain
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