Author: Kenshiro [] 2019-07-19 09:48:26
Published on: 2019-07-19T09:48:26+00:00
The discussion revolves around the security of Proof-of-Stake and Proof-of-Work algorithms. It is argued that mining pools have short-term power in that they can temporarily attack a coin until miners voluntarily leave. GPUs are easier to source than ASICs, which are only sourced from a few places. A hash change will only affect things temporarily, and it will still settle to the existing distribution of mining hashpower. If a 51% attack occurs in PoS, all staking funds will be burned. It is possible to get around this by using short options. Then economic power plus what was stolen can be used to take over another PoS coin. The problem with PoS is that large stakers can easily dominate the coin. The solution proposed for this issue is worse than the problem and speeds up the dominance of large stakers over the coin.
Updated on: 2023-06-13T20:02:45.832114+00:00