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DAO fork has absolutely nothing to do with PoS. This is nonsense.
by liquidify 5y ago
DAO fork has absolutely nothing to do with PoS. This is nonsense.
- space_rock 5y agoDAO fork showed Ethereum to be centralised similar to a company therefore a database or PoS for the blockchain is a better fit than PoW
- liquidify 5y agoThis is nonsensical. PoS is a mechanism for assuring transactions can get added to the block chain securely. It has nothing to do with whether the controlling interests are centralized or not.
- space_rock 5y agoPoS is only suitable for more centralised projects. For Bitcoin it would remove the properties that make the network unique
- anonporridge 5y agoIf you could take control of all the miners, how much would it cost to rewrite the chain? If you could take control of all the stakers, how much would it cost to rewrite the chain? Answer this honestly and you'll see why people trust PoW much more than PoS.
- anonporridge 5y agoActually it did. > There’s another wrinkle: The Ethereum Foundation is on track to switch to a new consensus mechanism called “proof of stake”, and in that scenario, anyone who owns 14% of all ether will have tremendous control over the future blockchain. https://www.coindesk.com/understanding-dao-hack-journalists https://www.coindesk.com/understanding-dao-hack-journalists