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PoS doesn't actually work. The wastefulness of PoW mining is what keeps the network honest, without the waste there is no incentive to stay on "the main chain"
by root_axis 8y ago
PoS doesn't actually work. The wastefulness of PoW mining is what keeps the network honest, without the waste there is no incentive to stay on "the main chain" (i.e. prevent an accidental or malicious fork) since it costs nothing to "mine" every possible chain.
- CydeWeys 8y agoIt works for this use case. Radio contact logging is based on the honor system, and a contact is valid if both ends log it. Currently it's a centralized database that anyone can input data into. In this use case you'd simply decentralize the DB. Blockchains are needed in cryptocurrencies to prevent the double spend problem. There's no double spend problem in logging radio contacts. The incentives to attack are much less too, because there's no value to steal.
- root_axis 8y agoHmm. I see your point.
- AgentME 8y agoI think Ethereum's plans for PoS penalizes people (on the main chain) people who have previously signed the wrong chain, so I don't think that's an insurmountable obstacle. It's all still a work in progress though with a lot of cases like that. I'm deeply suspicious of any projects that claim to have already figured out PoS.