Post
Topic
Board Development & Technical Discussion
Merits 14 from 7 users
Re: [Megathread] The long-known PoW vs. PoS debate
by
ETFbitcoin
on 28/02/2022, 11:30:09 UTC
⭐ Merited by Welsh (4) ,pooya87 (3) ,hosseinimr93 (2) ,markm (2) ,BlackHatCoiner (1) ,JayJuanGee (1) ,n0nce (1)
It's been long time since i saw PoS discussion on this "Development & Technical Discussion". I hope there won't be any chaos.

P.S. Here is a realistic risk of PoS: a lot of people have proven to see cryptocurrency as a trading tool and they will deposit their coins on a centralized exchange. All of a sudden we have one entity with a huge amount of coins aka stake that can control the PoS too.

And it already happened several times. For example, Binance, Houbi and Poliniex helped Tron foundation to perform hostile takeover on Steem network[1]. Binance only apologize[2] while Houbi make an excuse[3] without any real action.

[1] https://cryptoslate.com/big-exchanges-conduct-a-hostile-takeover-of-steem-blockchain-following-tron-acquisition/
[2] https://www.cryptoglobe.com/latest/2020/03/binance-apologies-for-its-role-in-justin-sun-s-steem-takeover/
[3] https://coingape.com/huobi-exchange-responds-steem-network-takeover-by-justin-sun/