3 ms·
They are correct that proof-of-stake doesn't solve the initial wealth distribution problem. ADA and XTZ solve it by pre-mining the coins. Ethereum is instead s
by shawnz 6y ago
They are correct that proof-of-stake doesn't solve the initial wealth distribution problem. ADA and XTZ solve it by pre-mining the coins.
Ethereum is instead solving it by having an initial proof-of-work period and then moving to proof-of-stake after some amount of mining and wealth distribution has already happened.
- jki275 6y agoThat's not what they said. They said POS can't distribute coins, which is not accurate. ADA and XTZ did pre-mine their initial distribution, and now they distribute coins through stake rewards.
- tromp 6y agoThat's not distribution. That's just letting every owner maintain their share of the pie by staking.
- jki275 6y agoYou can argue whatever you want, it's distributing coins to the people who secure the network.
- haimez 6y agoSo, PoW then.
- Dylan16807 6y agoThey secure the network by showing up and participating with minimal calculation. I don't think that falls under proof of work. Even if it does, it's not the terminology that matters. What matters is that there is no reward for burning cycles.
- jki275 6y agoIt’s not POW. No need for massive amounts of processing power. Read IOHK’s Ouroboros paper or Breitman’s Tezos paper.