Re: Proof that Proof of Stake is either extremely vulnerable or totally centralised
True chain can be determined by comparing block height with the block explorer for PoS or PoW.
As a Sybil attack can fake a chain on either PoS or PoW and only comparing to a Block Explorer can verify the true chain for a syncing node.
As a Sybil attack can fake a chain on either PoS or PoW and only comparing to a Block Explorer can verify the true chain for a syncing node.
Have you listened to a single thing anyone had said in this thread?
Producing blocks under PoS has zero cost, therefore any desired chain height can be reached by the fake chain, making it impossible to objectively differentiate between fake and canon chains.
Geez, have you taken your meds today?
Sybil attacks can place a fake chain with a lower PoW difficulty rating until a node sees the other chain with the higher difficulty and reorgs.
(@d5000 , if a node is completely blocked from seeing the other chain, thru blocking the non-sybil nodes, it can be fooled until such a time as the non-sybil nodes connect.)
(IE: If I were to hack an exchange and modify their conf file to use connect= instead of addnode= to my Sybil nodes, I could keep it on the Sybil chain for an indefinite period (until their support staff discovered it.))
(This would also allow me to double spend any PoW coins with that exchange and immediately cash out to one of the coins, that are connecting to a normal node.) Bitmain could easily pull off the above attack on Bitcoin.
You have to buy or steal the PoS coins to stake them?
Their is a cost involved.
Also your pretense at how easy it would be is over exaggerated.
Feel free to 51% attack zeitcoin to prove how easy it is for you.
(According to you it is a zero cost attack so nothing is stopping you.)
What I am saying is if their is a sybil attack involved and your node is being blocked from seeing the true chain,
you can use a block explorer to verify the true chain for PoS or PoW.
It is a 3rd party verification , but it works and people using PoS or PoW would be naive not to use it.