Post
Topic
Board Mining (Altcoins)
Re: How would the switch to Proof of Stake work for Ethereum?
by
TheBottomTurtle
on 13/04/2019, 21:49:09 UTC
Proof os Stake is a double-edged sword, especially speaking about decentralization.
How so? Can you expound more on this?

The richest 1% of the world owns over 50% of the world's wealth.  There's no reason to believe the distribution would be any different for cryptocurrencies, particularly since owning over 50% of a PoS cryptocurrency would mean non-stop, no-cost 51% attacks.  Allowing the control of a network to become so centralized defeats the entire purpose of blockchain tech and would likely cause it to implode.

Here's an article backing my 1% claim, it's a few years old but if you google the topic you'll find tons of corroboration.  https://www.cnbc.com/2017/11/14/richest-1-percent-now-own-half-the-worlds-wealth.html