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So an Oligarchy that's less monopolistic? Where do the coins come from? Has there been any other mechanisms for minting other than minting the supply from day
by nosuchthing 7y ago
So an Oligarchy that's less monopolistic?
Where do the coins come from? Has there been any other mechanisms for minting other than minting the supply from day 1, or burning computational capital/energy in the form of PoW mining?
- narush 7y agoPoW is currently an oligarchy, for what it's worth. I was using the term monopolistic in a lose sense (i.e. tending towards large players controling the market [i.e. "centralizing"]). In most PoS protocols, coins come from either PoW mining before a transition to PoS, or from an initial coin offering. Neither are great solutions IMO, but PoW doesn't really distribute coins very well either.