483
this post was submitted on 17 Nov 2023
483 points (98.8% liked)
Technology
59673 readers
4997 users here now
This is a most excellent place for technology news and articles.
Our Rules
- Follow the lemmy.world rules.
- Only tech related content.
- Be excellent to each another!
- Mod approved content bots can post up to 10 articles per day.
- Threads asking for personal tech support may be deleted.
- Politics threads may be removed.
- No memes allowed as posts, OK to post as comments.
- Only approved bots from the list below, to ask if your bot can be added please contact us.
- Check for duplicates before posting, duplicates may be removed
Approved Bots
founded 1 year ago
MODERATORS
you are viewing a single comment's thread
view the rest of the comments
view the rest of the comments
I'm not sure about the social dynamics with proof of stake, you might be right but, why aren't people willing to volounteer? Is there a limit to how many stakeholders there are? or a minimum (large) stake, meaning you must be rich?
Anyways, one thing I can say for sure: these dynamics already exist with proof-of-work: miners started using specialized hardware, raising the barrier to entry for the "small guys", so instead, people join large mining pools which are becoming more and more centralized.
So at least proof-of-stake is not worse in this respect.
People aren't willing to volunteer because of the hardware requirements for running a full Ethereum node and 32 ETH for staking. There are centralized staking pools which everyone uses, where people trusting those pools with there money.
And if a Bitcoin mining pool starts doing something suspicious, the miners can quickly switch to another pool. The miners have a choice in this case.