Post
Topic
Board Bitcoin Discussion
Topic OP
Economical mammoths versus PoW and PoS
by
user512
on 30/06/2019, 16:00:40 UTC
Hi everyone,
last time I thought about centralization making in decentralized networks and systems, exactly about Proof of Stake.
With PoW consensus mechanism, the users can't stop potential malicious user or group of users from simply buying their power in network via buying new ASICs because this isn't directly commited to blockchain.
By the principle you can't stop anyone buy a lot of hashing power. In this way I see PoS as the good way how to avoid this because coins in PoS which make the power can be bought only from blockchain users, so by the other words, users can decide not to make possible centralization because they do not allow selling coins to malicious users or pools. But not at all.
However, there are many ways how can centralization-lust groups hide their behavior by TOR principles, so you can think that you are selling your Ether or imaginary Bitcoin with PoS to common user, but the wallet is held by centralized mammoth. So the PoW is weak in holding too many coins instead of too many ASIC cards for mining, plus - and ironically - there isn't any way how to redistribute coins in free and decentralized manner as in PoW.
For example, state can always take control over the PoS network by anonymously buying the majority of the coins (it doesn't need to use violence, it can just use its economical dominance). There isn't any way how to recognise between institutional buyer and common buyer in the manner: No! You're Big Bro! I don't sell you 100 000 000 ETH, because you will take control over Ethereum blockchain!
By the way, if there will be any true-blockchain-decision-making mechanism, in pseudoanonymous network you can't recognize that the state is getting control over it (of course - if will the attack for getting control well distributed).
But if you assumpt, that there are only certain ways how to buy crypto if you don't have any digital coin for exchange yet, you probably can recognize it.
But clearly hypothetically, if all assets, cars and things for everyday use will be smart contract ensured, the only way how to buy crypto will be simpy trade your smart asset with it, and that means no identity revealing at the entry of trade, so the full pseudoanonymity (you will be sure not able to recognize between state and common user).
Anyway, the states can't buy all digital coins in the world, that unluckily don't figure them out from taking control over early beginning blockchains.
If you have any ideas how to avoid taking control over blockchains by economical mammoths, please reply. At now I see the biggest problem in the side of recognizing between state and the others.