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PoW at least provides a decent and somewhat fair coin distribution mechanism. With PoS, the coin creators can assign themselves an arbitrary fraction of the co
by tromp 5y ago
PoW at least provides a decent and somewhat fair coin distribution mechanism.
With PoS, the coin creators can assign themselves an arbitrary fraction of the coins, concentrating the wealth. Even if there is a public record of all the funds raised in a public sale and all expenditures made (which is rarely the case), it's possible for the creators to participate in the public sale and recover large parts of funds used to buy their own token by generous expenditures on software development and such.
- inter_netuser 5y agoDo you believe PoW can be used as bootstrap mechanism, and then some combo of PoS/Pow in the maintenance mode? Who is the top researcher on this subject these days?
- ghughes 5y agoIt could be interesting to bootstrap a PoS network using the wallet keys for all existing public blockchains, by allowing users to initialize their PoS wallet with the fiat value of their PoW keys held at some agreed moment in time. I toyed with this idea for a while, but I don't know how you could keep the network secure until a significant proportion of the total value has been claimed. Anyway, I'd also be interested to know if there's existing or active research along these lines.
- aqme28 5y agoI think this is organizational more than technological. There are plenty of PoW coins with unfair or absurd distributions, and plenty of PoS coins with somewhat equitable distributions.
- tromp 5y agoYes, PoW coin emission curves often leave something to be desired, tending to emit too much in the first few years, which leads to some wealth concentration as well. In my opinion a fixed block subsidy would be most equitable, but that's a very slow emission, taking 100 years to reach a yearly supply inflation under 1%.