Author: Eric Voskuil 2019-07-17 12:02:29
Published on: 2019-07-17T12:02:29+00:00
The email thread discusses Proof of Stake (PoS) implementation in Bitcoin. Kenshiro advocates for PoS v3.0, which is currently implemented in several coins and suggests additional improvements such as hardcoded checkpoints and the ability to detect transaction censorship by staking deposit. However, ZmnSCPxj argues that PoW is the most efficient and secure option due to trust-minimization and uncensorability requirements of Bitcoin. ZmnSCPxj also points out flaws in Kenshiro's proposed improvements, including the need to trust developers and vulnerability to censorship attacks. The discussion covers the potential risks of PoS, including stake-grinding and the possibility of a single entity controlling >51% of stakeable coins. Overall, the email thread highlights the trade-offs between PoW and PoS and the challenges of achieving a secure and decentralized consensus algorithm.
Updated on: 2023-06-13T20:02:15.700948+00:00