Introducing a new cryptocurrency with a revolutionary Proof of Snake consensus mechanism.
It 100% scales.
disclaimer: while typing this I slowly realized how hard it is to explain, but I hope this clears it up a little.
In crypto currency like bitcoin there is no central authority who is in charge, so all participants have to find another way to figure out if a transfer of coins is legit or just someone bullshitting. (the participants must reach a consensus).
Different cryptocurrencies have different mechanisms (consensus algorithms) to figure out the truth. How that actually works is mathy and hard to explain for me so I will skip that, but to get the joke you only have to know that the most well known consensus algorithms are: Proof of Work (do work solving hard equations) and Proof of Stake (use coins you already own as collateral).
Proof of Snake is a pun on the last one, where I would imagine you must somehow use snakes to verify transactions?
The last line is a reference to the scalability of, for example bitcoin, which has gotten slower as it has gotten bigger (scales badly) and the fact that snakes have scales.
The social network of the future: No ads, no corporate surveillance, ethical design, and decentralization! Own your data with Mastodon!