3 ms·
If you're interested in proof of stake, it's definitely worth reading about delegated proof of stake [1]. The gist of it is that token holders vote for the node
by Method-X 9y ago
If you're interested in proof of stake, it's definitely worth reading about delegated proof of stake [1]. The gist of it is that token holders vote for the nodes (miners). So far as I've seen, it's the best way to address the issue of governance on a blackchain.
1. https://bitshares.org/technology/delegated-proof-of-stake-consensus/ https://bitshares.org/technology/delegated-proof-of-stake-co...
- runeks 9y agoDelegated proof-of-stake suffers from the same problem that all consensus algorithms suffer from: people will always be willing to spend, at most, n coins on producing n coins. The only way to avoid it is by giving particular nodes the special privilege of producing coins, otherwise the free market will push up the price until there is no profit left[1]. [1] http://www.truthcoin.info/blog/pow-cheapest/ http://www.truthcoin.info/blog/pow-cheapest/