Hi AEternity Team!
In your whitepaper you state that you changed your mind about 100% PoS blockchain, although it was in your plans initially. I wasn't able to find explanation about your reasoning on the matter. Can you please elaborate on this ? It seems Vitalik still believes in PoS and there are already some attempts to launch 100% PoS blockhains. Why do you think that a "decentralized 100% PoS" is impossible ?
Best Regards!
Correct, a pure signature scheme, like 100% PoS without PoW can't be secure in a decentralized environment, this means without any hardcoded checkpoints or authorities to connect to, especially for new users. PoS was suggested as a way to secure a blockchain without mining. In PoS, if somebody is able to collect more then the necessary majority of the 'staking keys' (probably <50%) of any point in the past, after the tokens got sold, he/she will be able to create an alternative version of the blockchain, which seems more 'fit'. In comparison to PoW where remining the whole blockchain from the change would be required, with PoS this would not cost much, as it requires just signing. In æternity PoS is additional to PoW and helps with the governance, via revealing information from the crowd.