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There are two attractors, it could push people to do it themselves but I think it's more likely that it evolves in stake pooling. Stake pooling in pure PoS invo
by murbard2 8y ago
There are two attractors, it could push people to do it themselves but I think it's more likely that it evolves in stake pooling. Stake pooling in pure PoS involving trusting the pool operator to a great deal and I'm concerned it degenerates to a very centralized system. Adding optional delegation is a safety valve that takes this into consideration.
What Tezos does is merely let you lose a different key to custody funds and to create blocks. By itself this creates the possibility of delegation.
Last but not least, with trusted hardware the difference blurs even more.
- aey 8y agoJust my personal opinion, but designing a system that doesn’t allow for secure pooling will only enable insecure pooling. So making the choice to force people to share private keys as the only way to delegate capital will make the overall system a lot less secure, and just seems really irresponsible.
- w1nt3rmu4e 8y agoDelegation does not require sharing private keys. Nor does it require transferring XTZ to anywhere other than your own wallet. Ever. Period. The only risk associated with delegation is that the baker will run off with the baking rewards instead of distributing them. Of course, the incentive is low since this can only be done once. The community is active is discussing the trustworthiness of bakers (which, to date, has been pretty much all of them). The staking risk (risk of losing a bond) is entirely on the baker. This incentivizes them to make sure they're not double baking or otherwise running misbehaving nodes.
- aey 8y agoMy point exactly. Without delegation the only way to pool capital is to give up ownership.