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Hopefully. I think proof-of-stake is a promising technology but I'm not certain yet whether it can fully replace the security guarantees provided by proof-of-wo
by shawnz 6y ago
Hopefully. I think proof-of-stake is a promising technology but I'm not certain yet whether it can fully replace the security guarantees provided by proof-of-work. But if it can, then of course that would be excellent. Not only would it reduce the consumption of cryptocurrencies but it might even offset some of the energy usage of traditional financial instruments.
Some possible issues with proof-of-stake though are: Does the ability to borrow money to stake (since you get it back after exiting) make it too easy to conduct an attack? And, since you can't stake if you have no coins, will it be too easy for entrenched stakers to control the supply later on?