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I do not find your explanation of the objective of PoS convincing. Maybe you are talking about their protocol that is true by construction? Proof of Stake stra
by DSingularity 9y ago
I do not find your explanation of the objective of PoS convincing. Maybe you are talking about their protocol that is true by construction?
Proof of Stake strategy is to make it where attacks on the blockchain are impossible in the economic sense. Proof of work strategy is making the attack infeasible by making the work required impossibly large.
Now is PoS possible? No idea. That possible fork attack seems like an impossible barrier to overcome. But we will see.
- cocktailpeanuts 9y agoHistory has shown us that humans don't always act economically or rationally. So nothing is impossible.
- profalseidol 9y agoIn PoS, it is a known assumption that if the majority of nodes act rationally, then so be it. This is an issue that is out of scope. Humans can be rational or irrational. That is how they are born. So far, we can only make tools and books to prevent irrationality.
- cocktailpeanuts 9y agoDo you think PoS is as safe as PoW when dealing with irrationality?
- zodiac 9y agoYes, there are principled ways to model these things. You can compare the byzantine fault tolerance threshold across PoW and PoS. You can compare the cost of deviating from the Nash equilibrium, and calculate how much an attacker needs to spend to deviate in return for every dollar of damage he causes.