Post
Topic
Board Altcoin Discussion
Re: Delegated Proof of Stake (DPOS) White Paper by Daniel Larimer
by
ChuckOne
on 03/05/2014, 08:33:46 UTC
It is time to squash Proof-of-Stake once and for all. It can NEVER remain decentralized. Satoshi's Proof-of-Work is the only known solution to the Byzantine General's Problem (was a known unsolved problem since at least the 1970s).

You should read http://www.links.org/files/decentralised-currencies.pdf It explains why PoW is also not the way to go. The reasoning is quite simple:

Why does Bitcoin introduce checkpoints periodically? Because PoW is not secure either.

How is the network gonna find consensus on that checkpoints? Assumption: the developers find it.  <<< is that decentralized? I doubt it.