How new PoS coins will be generated and distributed? The stock has to be generated somehow right? How does this not resemble a central bank?
This is an honest question. It looks like PoS is a full circle towards the same centralized system we have today. Please correct me if I'm wrong.
It is plutocracy, but with emojis.
Would you take M1 Abrams tank to race at Nurburgring? They have a different function.
Lightninig/Payment channels, backed by the same baselayer security guarantees, can operate at literally unlimited tps. The only ceiling is how fast you can send packets back and forth.
Miners do not vote, they are nothing but security guards paid by the network users. Miners do not get paid if they produce a block with rules not accepted by the rest network.
Counterintuitive, but that is the reality.
Either monopoly on violence in the state under whose protection miners operate, or private security for smaller threats.
Miners in China, Russia and Iran are essentially absolutely immune to threats from the West. and vice versa.
It's not designed to gamble and make a quick buck, but to survive even a nuclear war. Just like TCP/IP wasn't designed for streaming porn.
If you’re servers are worth X Billion Dollars that’s attractive to the same sorts of criminals that rob banks. Hell governments have a long history of running drugs and state sanctioned piracy etc. An attractive enough target needs serious security.
Unfortunately, miners benefit from the current artificial limitations. Which demonstrates an inherent issue with crypto currency, miners and users have very different goals yet only miners get a vote.