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I'd like to ask more about Proof of Stake's flaws. https://en.wikipedia.org/wiki/Proof-of-stake#Criticism https://en.wikipedia.org/wiki/Proof-of-stake#Criticis
by sillysaurus3 9y ago
I'd like to ask more about Proof of Stake's flaws.
https://en.wikipedia.org/wiki/Proof-of-stake#Criticism https://en.wikipedia.org/wiki/Proof-of-stake#Criticism
These problems seem fairly significant and unresolved. Thoughts?
Statistical simulations have shown that simultaneous forging on several chains is possible, even profitable. But Proof of Stake advocates believe most described attack scenarios are impossible or so unpredictable that they are only theoretical.
Any system that will eventually attain a $1T market cap probably can't have theoretical issues like this.
- RoboTeddy 9y agoAFAIK Ethereum plans to resolve this "nothing at stake" issue by using security deposits. If someone submits a proof that a miner was staking on multiple chains, the miner loses their security deposit. https://github.com/ethereum/wiki/wiki/Proof-of-Stake-FAQ https://github.com/ethereum/wiki/wiki/Proof-of-Stake-FAQ That said, this all looks hard to get right...