I don’t understand how it works yet, but I generally hold what I think is your skepticism for proof-of-stake.
To me, proof-of-stake takes all the technical guarantees of the blockchain and throws them out for a hand-wavy weak guarantee of correctness based on incentive structure. I don’t see how it’s that different from historical digital (or even fiat) currencies based on trust.
Proof-of-work is the interesting bit it crypto currencies.
I don’t understand how it works yet, but I generally hold what I think is your skepticism for proof-of-stake.
To me, proof-of-stake takes all the technical guarantees of the blockchain and throws them out for a hand-wavy weak guarantee of correctness based on incentive structure. I don’t see how it’s that different from historical digital (or even fiat) currencies based on trust.
Proof-of-work is the interesting bit it crypto currencies.