proof of work vs proof of stake: proof of work is like all the magnetic ink, magical threads, watermarks, etc... getting all of this stuff takes effort and work
-
Show this thread
-
proof of stake is like "why are u wasting so much energy and earth's resources creating these features, why don't you just arrest people who use fake dollars so that everyone is honest" getting caught using a fake dollar risks your freedom
1 reply 0 retweets 6 likesShow this thread -
the weakness of pos then is that it's honor system based. the stake is necessary b/c otherwise there is no risk. if a famous person gave you a stack of pos dollars you'd be like "ok sure" but if a homeless guy does so you'd be like "nah do u have venmo instead"
1 reply 0 retweets 6 likesShow this thread -
with pow on the other hand the currency itself embeds a degree of proof to its validity. so much work went into it that it acts as a signature that can only be produced by a Higher Authority though for the dollar bill, even this can be overcomehttps://en.wikipedia.org/wiki/Superdollar …
1 reply 0 retweets 2 likesShow this thread -
between "full decentralization" and "full centralization" there likely exists a middle ground where the bulk of the excess friction and waste of a decentralization is reduced but the system is more trustworthy than a fully centralized one
1 reply 0 retweets 2 likesShow this thread -
the u.s. dollar as cash ironically serves this purpose in many countries the fiat of the central gov is considered trash but the dollar, with all its fancy security threads and watermarks has enough embedded proof-of-work that it's valuable despite being centralized as well
1 reply 0 retweets 3 likesShow this thread -
i'd rather use google drive than bittorrent or ipfs bc the user experience is so much better despite the centralization risk the downside is in places where google isn't trusted like china, there are more hoops to jump through
1 reply 0 retweets 2 likesShow this thread
google has enough marketcap/reputation at "stake" that it's good enough for files even for more important things like savings & equity, vanguard, bank of america, fidelity, schwab, etc... all have enough "stake" to be trustworthy the problem is... so did lehman brothers...
-
-
Thanks. Twitter will use this to make your timeline better. UndoUndo
-
Loading seems to be taking a while.
Twitter may be over capacity or experiencing a momentary hiccup. Try again or visit Twitter Status for more information.