Post
Topic
Board Altcoin Discussion
Re: rpietila Altcoin Observer
by
onemorebtc
on 15/07/2014, 08:31:55 UTC


6. PoS



What? PoS is potentially the most revolutionary development in cryptocurrency tech since Bitcoin. Just because some people have taken advantage of the hype doesn't automatically brand any PoS coin a 'shitcoin'.

as long as a pos system does not gets the same attention from security specialists as bitcoin i consider it flawed.
security/crypto is not something a programmer can get right without much training in the field

but the main problem (for me with pos) is basic-logic: i dont think its possible to secure a system with itself. bitcoin uses pow: which essentially means you need to get hardware and this hardware needs time to do some work: thats the key. its a physical key which lies outside the system.
my coding experience tells me: it is impossible to build something secure on an insecure base.