Re:Proof of Stake Is a Precondition to Blockchain Adoption
by totony on Wednesday June 23, 2021 @01:59PM
(#27607723)
>Contrast with staking, which will end up being large existing tradfi ('legacy bank') stakeholders, and they will control, censor and centralize the beast.
Banks can already use their capital to fund mines right now. Also they wouldnt be able to censor it due to how easy it is to punish bad actors in PoS vs PoW
The pools themselves do not represent an oligarchy, more a federation of miners. Miners are not sticky, and can switch to another pool after a single block is mined.
Miners themselves COULD form oligarchies, however the low margin and continuous ongoing capital expenditure through energy usage prevents this.
Contrast with staking, which will end up being large existing tradfi ('legacy bank') stakeholders, and they will control, censor and centralize the beast.