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A comment on Hard Problems in Cryptocurrency: Five Years Later. Parent comment

Re:Hard Problems in Cryptocurrency: Five Years Later by wyldfire on Sunday November 24, 2019 @12:05AM (#21618481)
Proof-of-stake has been in use in other non-Ethereum cryptocoins for a very long time [1] [2]. In Nano's case, there's no transaction fees paid to stakeholders (nor their delegated representatives).

[1] https://en.wikipedia.org/wiki/Peercoin

[2] https://en.bitcoinwiki.org/wiki/Nano

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Re:Hard Problems in Cryptocurrency: Five Years Later by _Kristijan_ on Sunday November 24, 2019 @07:37AM (#21620037)
Nano consensus mechanism is called Open Representative Voting (ORV). It has similar sides to proof-of-stake, but differs in important places. e.g. it is less a "stake" than a voting weight that the users themselves distribute to nodes of their choice (or their own). ORV's self-description at:

https://docs.nano.org/glossary/#open-representative-voting-o...

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Re:Hard Problems in Cryptocurrency: Five Years Later by wyldfire on Sunday November 24, 2019 @08:51AM (#21620404)
> or their own

Sure, it's an optionally-delegated-proof-of-stake. In practice, most do delegate their stake. But at the end of the day the "voting weight" that secures transactions is majority stake and not a proof of work.

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