5

Everything Wrong with Proof of Stake

 2 years ago
source link: https://hackernoon.com/why-proof-of-stake-might-not-be-the-answer-to-ethereums-gas-prices
Go to the source link to view the article. You can view the picture content, updated content and better typesetting reading experience. If the link is broken, please click the button below to view the snapshot at that time.
neoserver,ios ssh client

Everything Wrong with Proof of Stake

The decentralised/blockchain community holds independence, freedom, and a lack of hierarchy as a core ideal. However, they are using a flawed method from game theory that will do the opposite of their intentions. Staking is contrary to true free decentralisation rather than fixing it. The top.001% could stake $10 million and lose it having no effect on them whatsoever and 90% of the population would struggle to muster $1000 let alone $1million to join the game. The rich can just profit or decide which system fails and which succeeds on a whim.

report

Recommend

About Joyk


Aggregate valuable and interesting links.
Joyk means Joy of geeK