Proof-of-stake (PoS) protocols are a class of consensus mechanisms for blockchains that work by selecting validators in proportion to their quantity of holdings.
This simply means that the richest, usually the first comers, can continue to control the network at no additional cost, other than opportunity costs.
Proof of work doesn't allow that. Of course, the richest could continue to control the network, but only by continuous investment in the network.
Anyone can join the Bitcoin network, without even purchasing BTC, just mining. This is not true of PoS. PoS almost creates a permanent oligarchy
ihaphleas
npub1ty…vpx4u
2024-03-19 13:51:53
in reply to nevent1q…afag
Author Public Key
npub1ty8pwacr4thgz5e5n7t52l5p4fe5cm8707nqnvrmlxfexqs09m3spvpx4uPublished at
2024-03-19 13:51:53Event JSON
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"content": "Proof-of-stake (PoS) protocols are a class of consensus mechanisms for blockchains that work by selecting validators in proportion to their quantity of holdings.\n\nThis simply means that the richest, usually the first comers, can continue to control the network at no additional cost, other than opportunity costs.\n\nProof of work doesn't allow that. Of course, the richest could continue to control the network, but only by continuous investment in the network.\n\nAnyone can join the Bitcoin network, without even purchasing BTC, just mining. This is not true of PoS. PoS almost creates a permanent oligarchy ",
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