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Proof of stake: Government of the rich, for the rich, by the rich. Can't anybody do better?
by Animats 1y ago
Proof of stake: Government of the rich, for the rich, by the rich.
Can't anybody do better?
- everfree 1y agoProof of stake isn't a government, it's a network time protocol.
- drdeca 1y agoRuling is done by rulers, and the people who have lots of power are the powerful people. Money can be exchanged for goods and services. If we have no way to determine whether two accounts are held by the same person, so that influence can only be determined by what one has, then it should behave the same pattern I would think.
- packetlost 1y agoYes. Proof of Logits.
- weregiraffe 1y agoYou can use weapons. Let's call it Proof of Ammo.
- tonyhart7 1y agobut that just how life goes
- wmf 1y agoProof of Eyeball —sama
- sph 1y agoYes, see the Bitcoin white paper ;)
- kinakomochidayo 1y agoI don’t think Bitcoin whitepaper talks about ASIC monopoly and economies of scale :D
- bawolff 1y agoDepends on what properties you want your system to have. For some properties yes, for others no. Of course anyone can come up with something new at any time.