Criticisms of Proof of Stake

[Serotonin]

@XZact

We show that stake-based cryptocurrencies, under correctly selected parameters, can be perfectly egalitarian, perhaps contradicting folklore belief.

Unfortunately, this paper only refers to pure proof of stake and they have left delegated proof of stake to future work. I’d be interested to see where this metric falls once delegation and the rewards function are considered as well. It’s part of why I proposed An Alternative to a0 and k, because its egalitarian curve is much more of a straight line than with the current rewards function.

@XZact

Finally, we remark that neither proof-of-work nor proof-of-stake blockchains are politically egalitarian systems, in which the ideal of one human one vote is attained. Instead, at best, one coin one vote is attained in the case of well-parameterized proof-of-stake systems.

Exactly, which mirrors my view that bringing governance to PoS in an egalitarian way will be exceedingly difficult, if not, impossible.