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Proof of work is no different in this regard: more capital, more mining power, more control. Miners interests don't always align with the network's users inter
by roelb 5y ago
Proof of work is no different in this regard: more capital, more mining power, more control.
Miners interests don't always align with the network's users interests (see gas fees).
Proof of work isn't more decentralized either (a few mining pool delegators control bitcoin), eth2 proof of stake is more secure because of the pseudorandom validator selection.
- leishman 5y agoIt is very different: The difference is that PoW is censorship resistant. Anybody can be a miner and existing miners cannot censor new miners. Performing new work is external to the network state. In PoS, existing stakers can prevent new stakers from registering. Very important distinction.
- zionic 5y ago> Anybody can be a miner This is patently false, endgame PoW centralizes mining around 3rd world coal/cheapest possible (stolen?) electricity. The overwhelming majority of the world has been priced out of BTC mining, not that they could get ahold of an ASIC anyways.
- CameronNemo 5y agoEasy, just buy guns, steal some ASICs, steal some coal, and mine away!!!
- throw1234000 5y agoAnybody can be a miner the same way anybody can participate in the race for Mars. But that doesn't mean your bottle rocket will beat SpaceX there.
- randomhodler84 5y agoSure. And analogous to PoS is some kind of galactic requirement that you pay some kind of space bond in order to go to space. Mess around and your space bond is slashed. I like the bottlerocket model better.
- SwagtimusPrime 5y agoYeah sure, let me just buy a container full of ASICs worth hundreds of thousands of $$$ and I'll start mining: https://twitter.com/SGBarbour/status/1390504269925654532 https://twitter.com/SGBarbour/status/1390504269925654532