Re:A faster, more efficient cryptocurrency
by darawk on Monday February 18, 2019 @04:13PM
(#19194514)
I see people say this sometimes, and then provide no real evidence that it is at all true. PoS systems exist now, they don't have political problems to speak of any moreso than PoW coins. I see no reason to think that PoS would induce any sort of great political struggle that PoW wouldn't.
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Re:A faster, more efficient cryptocurrency
by keymone on Monday February 18, 2019 @04:42PM
(#19194739)
Itβs natural way of life. If a system is subject to being controlled by political process, which PoS is unlike PoW, it will eventually be overrun by politicians. Just common sense.
Re:A faster, more efficient cryptocurrency
by darawk on Monday February 18, 2019 @08:25PM
(#19195994)
And which political processes exactly is PoS subject to that PoW is not?
Re:A faster, more efficient cryptocurrency
by keymone on Tuesday February 19, 2019 @01:27AM
(#19197050)
Ordering transactions.
Re:A faster, more efficient cryptocurrency
by darawk on Tuesday February 19, 2019 @12:19PM
(#19200693)
Hm? How so? PoW miners can reorder transactions too. How is this different?
Re:A faster, more efficient cryptocurrency
by keymone on Tuesday February 19, 2019 @01:34PM
(#19201472)
they cannot without expending large amount of energy and even then it will look extremely shady to both old and new nodes. in pos you can generate an entire new blockchain from genesis and new nodes won't have a clue which chain is "real" while old nodes will be very much confused having to make a decision on the split and reorg.
point is - pos is based on trust, pow is based on laws of physics.
Re:A faster, more efficient cryptocurrency
by woolvalley on Monday February 18, 2019 @04:36PM
(#19194684)
A PoS that actually matters will turn into a political game as large stakeholders play negotiation games of where the project goes next. Much like stockholder corporations today.
Re:A faster, more efficient cryptocurrency
by darawk on Monday February 18, 2019 @08:26PM
(#19195995)
How is that different from PoW?
Re:A faster, more efficient cryptocurrency
by briatx on Monday February 18, 2019 @09:42PM
(#19196246)
It's not.
Bitcoin has a history of huge factional schisms over changes that should have been a no brainer (increase block size to increase tx throughput).
Instead political wars have been fought as the Core dev governance gridlocked and stagnated leading to the Bitcoin Cash fork (amongst others).