Post
Topic
Board Altcoin Discussion
Merits 1 from 1 user
Re: Is Proof of Stake Inherently Centralized?
by
franky1
on 29/12/2018, 22:34:13 UTC
⭐ Merited by bones261 (1)
it is a lot easier for a whale to buy a large portion of a specific coin (to have a large stake in it) and control the coin
they dont even need to buy coin
they just need to syndicate(pool) funds of many people into stakes of higher amounts combined. and then make blocks the way they want as they will get seen as higher staking authorities to solve more blocks.

syndicating funds is easier than pooling asics. and much easier than buying asics or buying stake.
a stake manager doesnt need a penny to his name and can start convincing people to pool their funds into his addresses