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> But the Eth folk managed to get proof-of-stake to work at scale; good on ’em. That’s a bit charitable IMO. It works with at least two major caveats: 1. You c
by amluto 4y ago
> But the Eth folk managed to get proof-of-stake to work at scale; good on ’em.
That’s a bit charitable IMO. It works with at least two major caveats:
1. You can’t unstake staked ETH. (This seems to have all manner of strange effects.). Fixing this is apparently a big deal, and, if nothing else, could enable attacks in which one unstakes and then uses knowledge of old staked private keys to attack other parties.
2. It hasn’t actually been that long, and the major validators likely have a strong interest in making Ethereum work well. Just working at scale does not mean it’s secure at scale.
- ricochet11 4y agoOne little clarifier: You can unstake and stop running your validator, the exit-validator process already exists as it is necessary for slashing. What you cant do is withdraw exited ether until withdrawals are enabled.
- wmf 4y agoYou can’t unstake staked ETH. This is temporary and AFAIK all the other PoS systems allow unstaking. attacks in which one unstakes and then uses knowledge of old staked private keys to attack other parties. These "long-range attacks" are not real. They're impossible to pull off in reality.
- timbray 4y agoWell, they did manage to cut their energy usage by like 100x. Gotta respect that. Not that I think Eth is currently used for anything but scams.