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PoW comes with huge energy and computation requirements that can make scaling infeasibly difficult. It's possible, but challenging, to design a PoS system that
by techman9 9y ago
PoW comes with huge energy and computation requirements that can make scaling infeasibly difficult. It's possible, but challenging, to design a PoS system that is secure and does not consolidate power in the hands of those that own the most currency. This document[0] has a good description of the arguments for PoS and an overview of the theory behind it.
[0] https://github.com/ethereum/wiki/wiki/Proof-of-Stake-FAQ https://github.com/ethereum/wiki/wiki/Proof-of-Stake-FAQ
- jacobush 9y agoI was with you up until "possible, but challenging". How...
- techman9 9y agoHow is it possible or how is it challenging? The FAQ document describes both. It relies on a principle called "Weak Subjectivity" that Vitalik describes in detail here: https://blog.ethereum.org/2014/11/25/proof-stake-learned-love-weak-subjectivity/ https://blog.ethereum.org/2014/11/25/proof-stake-learned-lov... I'll admit, that I don't have a complete understanding of the theory behind PoS systems, and there are certainly tradeoffs between PoW and PoS, but Vitalik makes the arguments that the benefits of lower energy consumption and quicker transaction fees outweigh the weakened guarantees. Whether you agree with him depends on your values with respect to Cryptocurrency.
- runeks 9y ago> PoW comes with huge energy and computation requirements that can make scaling infeasibly difficult. In what way does the energy requirements of PoW have an effect on scaling?