Author: Cloud Strife 2021-06-17 03:31:00
Published on: 2021-06-17T03:31:00+00:00
The discussion revolves around the comparison of proof of work (PoW) and proof of stake (PoS) protocols. While PoW requires expensive hardware and energy to participate, PoS requires permission from the previous owner of a token. The permission acts as an infinitely high barrier if the previous owner refuses to give up the token they control. In contrast, PoW has both professional/expert and amateur ways of participating, just like PoS. However, the professional/expert way in PoS is accessible to anyone with a raspberry Pi and a web connection, which is a lower barrier to entry than PoW. The conversation also touches on the vulnerability of participation keys in Alogorand that can be sent to malicious parties offering good returns. This problem exists in both PoS and PoW protocols, where there are fraud-prone and amateur ways of participating. Finally, the relevance of PoS in decentralized protocols is questioned as it relies on permission, which goes against the idea of distributed control in independent (i.e., permissionless) parties. Relevant links are provided to support these arguments.
Updated on: 2023-06-14T20:49:39.360471+00:00