let's assume a crypt*****ency uses proof-of-stake, therefore not wasting the scarce energy as a proof-of-work-based bloc***ains do
and the exchanges are still required by the states to check the IDs of the users just as any financial institution
what exactly do they offer with this then?
using a merkle tree by itself isn't a problem, say git and nix do this too, but the question is why even bother