Yes, work. Smart contracts are designed, programmed and, if they’re done right, rigorously audited for correctness. Then you have user-facing interface and everything surrounding that as well. Look at the documentation of AAVE, for one example.
And this isn’t even getting into the protocol level (L1 or L2) work either. Bitcoin was relatively simple, Ethereum is not. They’ve spent years crafting these systems to function for PoS, L2 support, sharding, rollups, etc., at scale.
Smart contracts are designed, programmed and, if they’re done right, rigorously audited for correctness.
What do these “smart contracts” make? And why do we need to burn up tons of fossil fuels, just to have contracts like we had before?
And how is this better than a typical contract?
Bitcoin was relatively simple, Ethereum is not.
Both are simple ponzi schemes.
They’ve spent years crafting these systems to function for PoS, L2 support, sharding, rollups, etc., at scale.
And all that time, they are still ponzi schemes that do none of the above very well. We’ve had all of that in the merchant payment systems for decades now, all without the need to consume more electricity than many small nations, just to approve a transaction.
