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Ah yes, let's make currency decentralized by having it controlled by the richest people. That makes much more sense than wasting energy.
by xigoi 4y ago
Ah yes, let's make currency decentralized by having it controlled by the richest people. That makes much more sense than wasting energy.
- zeroclip 4y agoThat’s not how PoS works.
- xigoi 4y agoSo tell me again, how much money do you need in order to stake?
- zeroclip 4y ago0.01 ETH or less, through decentralized staking pools. But your main argument is wrong: validators do not control the network. Users running node software do. Running a node is free. If a single validator began to exert unwanted control, the honest majority of non-rich users could slash or evict them.
- Cameri 4y agoWhat prevents the rich validators from slashing non-rich users so they don't lose their majority?
- zeroclip 4y agoIt’s not the majority of stake that controls the chain, it’s the majority of honest users. Rich validators can collude to have 51% staking power and start to exert unwanted force, like censoring blocks for their own profit or doing something else unwanted, but the majority of honest users can decide to coordinate a soft fork and point their clients at a new chain. The controlling validators will only be rich on the old chain.