Re: PoS is far inferior to PoW - why are so many people advocating switching to PoS
After having several farms of significant size for the last few generations of mining, I have finally switched sides and much prefer PoS now. I took a deeper look into the tech behind it and have been convinced that staking is a better idea as long as distribution was fair from mining
you got it wrong little buddy - there needs to be continual PoW.
there can be PoS to supplement that.
otherwise you are "relying on the good will" of humans again.
Here are two charts for you:
Nxt block generators
BTC block generators
Quiz of the day:
1. How many accounts/mining pools would be needed for each network to perform a 51% attack
2. Which one is more decentralized?
And don't bring up that "All stakes belong to the same person" argument again, because you can't prove it and it can also applied to bitcoin mining power.
This is what I have been repeatedly saying. As long as the Cartel controls Bitcoin, they shouldn't start arguing about vulnerabilities in other systems or claim they are decentralized. All it needs is the government or a bad actor to gain control of a couple of pools and Bitcoin is done.
At least with PoS, the attacker has to gain control of the coins through some means. Hacking exchanges won't give them enough so they will actually have to buy out the coins. Thats another key difference, anybody holding a PoS coin has a say in the network, Bitcoin holders don't.