Stop reading right here lol. Wrong on so many levels.
(i) level of trust in PoW vs PoS is nowhere the same in terms of both magnitude & frequency
(ii) "small" is relative & can turn "big" quickly in worst-case scenarios. very dangerous thinking. I call it engineering-by-hope.
https://twitter.com/VitalikButerin/status/1029901952346279936 …
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(i) explained: PoW consensus rules don’t change that often & will ossify eventually. Most updates are not even mandatory. In PoS, the online requirement is *mandatory*, and sticks around *forever*.
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Hugo Nguyen Retweeted Hugo Nguyen
For full critique of PoS, check out my articles/tweets in this threadhttps://twitter.com/hugohanoi/status/1021831408489136128 …
Hugo Nguyen added,
Hugo Nguyen @hugohanoi
"Irretrievable sunk cost" is the key in PoW.
The "stake" used in PoS creates a temporary illusion of security/immutability. It's neither sunk nor irretrievable, and that's a fundamental flaw you can never get around. https://twitter.com/francispouliot_/status/1021563523598573568 …
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7:36 PM - 15 Aug 2018
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