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The article addresses that in the section starting: >>Therefore, once they have withdrawn their deposits, they are untouchable. This is the “nothing at stake”
by SilasX 5y ago
The article addresses that in the section starting:
>>Therefore, once they have withdrawn their deposits, they are untouchable. This is the “nothing at stake” problem. There will inevitably come a point when a node is free to liquidate their entire stake and cash out.
And later concludes that, In order to know which is the valid staking, you have to already have a decentralized mechanism for ordering transactions, which was the problem to begin with.
- dathinab 5y agoBut that's also true for PoW as you can use hardware which after an attack you can use for other things.
- SilasX 5y agoBut you have to do new work (and a lot of it, requiring energy and time), compared to the trivial cost of generating another signature as in PoS.
- randomNumber7 5y agoYou cant reuse the electricity you have already burned...