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there’s been much discussion here about how PoS does little to provide a decentralized monetary system since it appears to be built with the idea those with the
by fermentation 4y ago
there’s been much discussion here about how PoS does little to provide a decentralized monetary system since it appears to be built with the idea those with the most money should determine what the “truth” is
- aidenn0 4y agoPoW is those with the most wealth can determine what the truth is.
- cflynnus 4y agoI don't think this is correct. The book "The Blocksize War" by Jonathan Bier does a good job of covering this topic.
- cowtools 4y agoNo, in PoW those with the most hashrate determine what the order of transactions is. Most of the world's computing power is in personal computers, so it is at least somewhat fairly distributed.
- aidenn0 4y agoIn theoretical terms, wealth can be turned into hashrate. In practical terms, most of BTC is mined on dedicated mining rigs by a relatively small number of players.