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Or PoS Ethereum or other PoS crypto currencies can take the place of exponentially energy-hungry PoW. They explicitly deal with the 50%+ attacks in their govern
by ece 6y ago
Or PoS Ethereum or other PoS crypto currencies can take the place of exponentially energy-hungry PoW. They explicitly deal with the 50%+ attacks in their governance too.
- loceng 6y agoHow so - by central authority changes?
- ece 6y agoFor certain cases of attacks, yes with minority forks, and by destroying the attackers stake in other cases, see the section titled "Attacks are much easier to recover from in proof of stake" here: https://vitalik.ca/general/2020/11/06/pos2020.html https://vitalik.ca/general/2020/11/06/pos2020.html
- loceng 6y agoSo why not just have a trusted centralized authority(ies), arguably democratically elected who control the system(s), and where there isn't a transfer of wealth weighted from late adopters towards earlier adopters?
- deleted 6y ago[deleted]
- ece 6y agoThat's another alternative, which doesn't exist yet. Ethereum PoS could be here sooner and doesn't use energy like PoW does, along with other helpful features.