Post
Topic
Board Altcoin Discussion
Re: POS coins
by
d5000
on 08/05/2016, 17:54:24 UTC
   So basically the Nothing At Stake Problem , is really just a Stupid Myth.
    Because staking on the online fork makes it impossible , for your Same coins to create enough difficulty on an offline fork concurrently to matter,
    As the online fork will always have it's difficulty plus your own if you mine both concurrently.   Smiley

Although I agree that the Nothing @ Stake problem is highlighted, above all, by "Bitcoin hardliners", I would not ignore it.

There has been a lot of research about the topic:

https://www.reddit.com/r/NXT/comments/2sewhu/nothing_at_stake_attack_researched_and_deemed_not/
https://blog.ethereum.org/2014/11/25/proof-stake-learned-love-weak-subjectivity/

All PoS coins are actually working, but most PoS coins do not have the market cap that would incentive a malicious attacker to try a real attack. There is also actually no easy possibility to short-sell large amounts of PoS coins, and short-selling is one of the key components of the most dangerous of all N@S attack types (it coinsists to lend a large amount of coins (about 1-5% of the coin supply), attack it via N@S and buy it back at much lower prices).

Facts are that PoS is still far from perfect, it must be continuously improved to harden it against this class of attacks. NXT is for the moment the best-protected (as far as I know), and I hope that Peercoin can soon improve its algorithm to get rid of the centralized checkpoints that are still protecting it.