Post
Topic
Board Bitcoin Discussion
Re: From 370,000 Full Bitcoin Nodes to 6,000: What happened?
by
coins101
on 23/06/2015, 18:48:02 UTC
Proof of stake was an idea put forward by Gavin to Satoshi in order to solve the issue of people creating scripts and endlessly sending transactions to themselves at zero cost in fees or something along those lines.

Bitcoin has something built in that still does something along the lines of proof of stake. I'll have to hunt around for the reference.

Anyway.....there was a paper that said PoS coins needed to use a centralized reference node:  

http://cointelegraph.com/news/113791/neucoin-whitepaper-reveals-first-mathematically-watertight-proof-of-stake-currency
Interesting. I wasn't aware of this. Well I think that it is too late to introduce something as PoS. It is too late to change the fundamentals of Bitcoin.
...

Found a reference:

https://youtu.be/rQ3e1Pzu7iI?t=5m01s

That link is definitely PoW. No reward required  Grin