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Isn't that why some coins are moving to proof of stake instead of proof of work? Solves the energy crisis. Idk if proof of stake prevents 51% attacks though.
by kindofajsdev 6y ago
Isn't that why some coins are moving to proof of stake instead of proof of work? Solves the energy crisis. Idk if proof of stake prevents 51% attacks though.
- madmax96 6y agoProof of stake doesn't prevent 51% attacks. It eliminates the incentive. If an attacker controls 51% of coins, why would they attack the network? That would be attacking their own wealth.
- Jasper_ 6y agoNot if they can attack the network without anybody knowing. If an attacker secretly controls 51% of the coins (by, say, having three separate entities that each control 15-20%) and can manipulate the market in their favor by rejecting transactions that would hurt them, that's a big incentive.
- thesz 6y agoProof of stake does not offer any resistance to Cybil attack or (part time) collusion of stake holders. In the case of such attacks the victims will find themselves in a situation that can be described as "shadow ban" - their transactions are not accepted or accepted too late, etc.