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That's not how it works. When you stake your Ethereum, it gets locked up and can't be withdrawn. When your staking time is up, then you can withdraw it. Smart
by tuxxy 9y ago
That's not how it works. When you stake your Ethereum, it gets locked up and can't be withdrawn.
When your staking time is up, then you can withdraw it. Smart contracts could be used so that multisignature wallets could be used which would prevent a hacker from taking funds provided to the mining pool.
I think a few friends and I are going to start a validator pool when time comes to switch over.
- m-i-l 9y agoThe validator pool sounds very interesting. Any experience of validator nodes for existing live PoS systems, in particular the costs of running (bandwidth costs, likely datacentre hosting costs, etc) vs rewards?
- acoye 9y agoI would like to know too. I know some PoS coins are there but I do not know of existing validator pools.
- m-i-l 9y agoThe only PoS system in live and large scale active use from I have read so far (still got a lot of reading to do though so could be missing lots) is NEO, and from what I can gather the validator nodes need a stake of 1000 GAS which is currently a little over USD30K, so there isn't such a compelling case for a validator pool compared with the proposed 1500ETH with current market value of over USD1M for the Ethereum proposal.
- PeterisP 9y agoA malicious (or pwned) pool operator could do false validation, which would sacrifice all the coins that other people have staked.