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I suspect your prediction is slightly wrong. Even after the Tornado Cash sanctioning, people in the blockchain space designed simple mechanisms where validatio
by PretzelPirate 4y ago
I suspect your prediction is slightly wrong.
Even after the Tornado Cash sanctioning, people in the blockchain space designed simple mechanisms where validations can't censor transactions to/from specific entities because they won't know what any individual transaction does.
To meet your prediction, some rich group would need to launch their own network and make code changes to support the features they need. I think the wealthy who were going to do that would just start a private "smart contract" that can run code and make transactions on a centralized, non-blockchain system.
There's no reason they'd need to keep running a blockchain if they were going to centralize decision making.
- BuyMyBitcoins 4y agoIf an entity wanted to gain a significant share of a PoS network, they would need far less money than would be required to purchase enough mining equipment to try and gain a significant share of a POW network. This would have an impact on the price of the PoS coin, for sure, but it would still pale in comparison to the physical costs of trying to compete as a miner. Not just capital expenditures for hardware, but operating costs as well. Buying a PoS coin is all that one needs to do in comparison.