24/ This does not translate to a distributed ledger. Each fork of a ledger is an alternate version of reality.
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35/ To argue that since PoW needs social consensus, it’s OK for PoS to need social consensus, is a downright stupid argument. What matters is not whether you need social consensus, but *how much*?
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36/ The less social consensus / human intervention a system needs, the stronger & more secure it is. The goal is to move as much as possible to *machine consensus*- to eliminate human biases & errors.
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37/ PoW makes machine-level consensus a trivial problem. When there is a fork, a machine just has to pick the one with the most accumulated PoW. Yes, Bitcoin still needs some social consensus to get the system up & running. But after that, it’s mostly on auto-pilot.
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38/ In contrast, in PoS you would continuously need social consensus in order to resolve forks. The reliance on social consensus is magnitudes bigger than PoW.
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39/ In conclusion, there is just no comparison between PoW & PoS. It’s like a NBA team vs a highschool team.
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40/ PoW is a system designed to withstand the worst, PoS involves obfuscated setups in order to hide its fatal weaknesses. One is a resilient platform for the future, the other is a toy.
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42/ Continued debate with Vitalikhttps://twitter.com/hugohanoi/status/952712190808608768 …
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44/ A deep dive into PoW & extending the energy argumenthttps://twitter.com/hugohanoi/status/957091071745433601 …
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End of conversation
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Write these in a blog. :)
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