I remember the good-old days where you could stake coins like Peercoin and Blackcoin on your own node in a decentralized (trustless) manner. After ETH announced its intentions to become a PoS coin, those days are over. Most PoS coins require you to "lend" your coins to a validator or third-party for you to start earning income right away. ETH, Polkadot, Polygon, and many others now work this way. Isn't crypto's intended purpose to eliminate the middleman? By requiring trust in a PoS system, you're bringing back centralized banking to crypto. Money talks, so don't expect this to change anytime soon.
Do you think there's hope for PoS to become decentralized again? If not, why? Can we blame governments and VCs for the path PoS has taken lately? Your input will be greatly appreciated. Thanks.
Do you think there's hope for PoS to become decentralized again? If not, why? Can we blame governments and VCs for the path PoS has taken lately? Your input will be greatly appreciated. Thanks.
Nah, I don't think that it will go back to where it used to be, unfortunately.
With the way the validators are making huge money (although it takes as well to invest a lot, but the returns are good). And with so many crypto investors willing to be a validator and everything now is a business? no one is willing to get back from the past. It's might not sound goods, but money matters has taken over the market already. Decentralization has been put aside, everyone is pursuing on how to get rich easy and quick right now. No more fighting about what is the principle of cyberpunks and why crypto is here in the first place.