Author: Kenshiro [] 2019-07-20 13:00:51
Published on: 2019-07-20T13:00:51+00:00
In a discussion about secure proof of stake implementation on Bitcoin, it was argued that miners cannot feasibly take over 50% of energy sources in the world. Another argument was made that dividing coins into many addresses can cause a strong penalty in staking weight, and if there are only two actual stakers with 50% staked funds each, then there are no other stakers. However, this argument disregarded the fact that a staking UTXO is banned from adding a new block for "wait many blocks." Thus, during this time, only the tiny stakes of the evil whale are in play, giving it 100% of the stake. The rest of the counterargument was ignored as it demonstrated incompetence in designing protocols. It was also noted that dirty energy will eventually be phased out due to competition arising, and that adding more rules to proof of stake is necessary due to its complexity.
Updated on: 2023-06-13T20:05:02.040437+00:00