1/ What is handwaving & sloppy thinking is ignoring subtle but important differences between PoW & PoS. Such as the *degree of social consensus required* - in terms of both magnitude & frequency.https://twitter.com/killerstorm/status/1044522585663447040 …
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Replying to @hugohanoi
My whole point is that difference between PoW and PoS is indeed subtle and matter of degrees. While most PoW proponents are like "PoS is obviously broken, PoW is the only way". If we can get to the point where we can talk about trade-offs, I'll be happy with it.
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Replying to @killerstorm
I agree with the 1st part, disagree with the 2nd part :-) To me & to many, PoS is indeed obviously broken. It's reinventing a decades-old wheel & a dead end. If PoS were truly viable, we shouldn't have to wait until today to have uncensorable money.
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Replying to @hugohanoi
I'm not sure how much you know about PoS. There are many different approaches, some quite intricate and subtle, and typically it requires separate issuance phase, which can be done using PoW.
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Hugo Nguyen Retweeted Hugo Nguyen
PoS protocols all share the same fundamental flaws although the way they choose to obfuscate the problems vary. It boils down to 2 main variants: either checkpointing or outright reliance on chain freeze/social consensus. See my linked tweets.https://twitter.com/hugohanoi/status/1021832568314843136?s=21 …
Hugo Nguyen added,
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