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Honestly, the thing kinda breaks if you have several sets of rules aka Bitcoin clones. No, ideally, the thing works if you have > 50% computation resources of t
by Dzugaru 4y ago
Honestly, the thing kinda breaks if you have several sets of rules aka Bitcoin clones. No, ideally, the thing works if you have > 50% computation resources of the planet consumed (and of course, controlled) by miners using one set of rules. This way you cannot have competing chains at all, and the correctness of the set of rules is kinda obvious - they're correct if they make sense to me (paying arbitrary rewards to oneself does not make sense, obviously) - no need to ask anyone - I see an enourmous chain with enourmous burned computation and I see the code.
In this sense there could only be Bitcoin. PoS cannot come close to that at all.
P.S. To clarify a bit more - I don't think the most-difficult chain can be with broken nonsensical rules, not in the long term.
- DennisP 4y agoI concede that PoS is not as secure as a hypothetical future Bitcoin consuming over half the computation on the planet. That would also have the advantage of making 51% attacks flatly impossible. Compared to Bitcoin as it exists in the real world, PoS has advantages.