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Proof of stake may not involve energy costs directly but it has far worse consequences - costs are just shifted into political plane. Which is essentially what
by keymone 8y ago
Proof of stake may not involve energy costs directly but it has far worse consequences - costs are just shifted into political plane. Which is essentially what bitcoin was designed to avoid.
You do know that idea of pos is older than PoW, yet nobody cared for it exactly because you end up with financial system run by politicians - exactly where you started.
- darawk 8y agoI see people say this sometimes, and then provide no real evidence that it is at all true. PoS systems exist now, they don't have political problems to speak of any moreso than PoW coins. I see no reason to think that PoS would induce any sort of great political struggle that PoW wouldn't.
- woolvalley 8y agoA PoS that actually matters will turn into a political game as large stakeholders play negotiation games of where the project goes next. Much like stockholder corporations today.
- darawk 8y agoHow is that different from PoW?
- briatx 8y agoIt's not. Bitcoin has a history of huge factional schisms over changes that should have been a no brainer (increase block size to increase tx throughput). Instead political wars have been fought as the Core dev governance gridlocked and stagnated leading to the Bitcoin Cash fork (amongst others).
- keymone 8y agoIt’s natural way of life. If a system is subject to being controlled by political process, which PoS is unlike PoW, it will eventually be overrun by politicians. Just common sense.
- darawk 8y agoAnd which political processes exactly is PoS subject to that PoW is not?
- keymone 8y agoOrdering transactions.
- darawk 8y agoHm? How so? PoW miners can reorder transactions too. How is this different?
- keymone 8y agothey cannot without expending large amount of energy and even then it will look extremely shady to both old and new nodes. in pos you can generate an entire new blockchain from genesis and new nodes won't have a clue which chain is "real" while old nodes will be very much confused having to make a decision on the split and reorg. point is - pos is based on trust, pow is based on laws of physics.
- dorgo 8y ago> you end up with financial system run by politicians At least, in case of pos, it is run by politicians with skin in the game...