Re:My professional opinion as a blockchain researcher: I don...
by kernelPan1c on Monday February 12, 2018 @10:34AM
(#16359235)
> So we will inevitably end up with some variation of Proof of Stake protocol – where we will simply have to trust some users more than others
Doesn't this defeat the point? I can't imagine a scenario in which a proof of stake system does not become centralized. The average person will want to stake the extra money they have but won't want to maintain a dedicated machine with adequate storage and zero downtime. They will entrust a third party to earn money by staking on their behalf. Thus, you have created a centralized system with a whole bunch of extra complication.
Doesn't this defeat the point? I can't imagine a scenario in which a proof of stake system does not become centralized. The average person will want to stake the extra money they have but won't want to maintain a dedicated machine with adequate storage and zero downtime. They will entrust a third party to earn money by staking on their behalf. Thus, you have created a centralized system with a whole bunch of extra complication.