PoS is inherently flawed because a 51% attacker cannot be overthrown, it has control over the validation and can keep it indefinitely, which is never true for PoW. If you look closer at slashing, which I assume you consider the countermeasure against the above, you should look closer a fundamental aspect: how is the slashing action decided? If it's reached by consensus then you again have the problem of how to reach consensus and you're back to square 1, if it's decided "algorithmically" then you surely have a centralised (or centralized-ish) authority that can decide what this algorithm is and how/when it can change. Simply look at the slashing for downtime: who decides what is percentage of downtime acceptable? Who decides is this threshold can be modified? PoS tries to "fix" the quintessential solution to the decentralization problem (the byzantine generals problem) hence putting itself in the impossible position of trying to solve a myriad of side problems in creative and over-complicated ways, trying to sweep the centralization under the rug hoping nobody will notice it. It's like the perpetual motion problem: (crazy) people continue coming up with ingenious new ways of building a working example, but you already know they are doomed to fail without even looking into the details of their inventions simply because you know that there are fundamental principles that cannot be violated, accidentally related to energy and entropy like in the case of PoW.
Can any #bitcoiner convince me why PoS consensus mechanism is centralized and a trojan horse for tyranny? Though I researched quite a bit, I've never seen a compelling argument that turned me.
Even if there are ppl with massive capital in their ecosystem, there's a thing called "slashing" to punish bad actors creating fraudulent activities on the network (and the only thing they could do is to double spend which are easily caught). And the rich getting richer is same for PoW consensus what ppl refer to as miner or pool centralization.
Please don't talk about dapps or nfts, that's the issue for another day. I just want to know WHY many maxis or Bitcoiners in general HATE PoS consensus.
I'm still at an infant level in this space so bear me with love ;)
#PlebChain #zapathon #BTC #Bitcoin #Ethereum
https://nostrcheck.me/media/public/nostrcheck.me_6065255441562126591689745315.webp
Discussion
Just spent some time reading and researching on my own.
Yeah obviously the fact that PoS has "Nothing at Stake" problem, it is relatively easy for an attacker to exploit the network.
And what's quite interesting about your point is that PoS over-complicate things, while "trying" to solve the Byzantine generals' problem. Based on what you said and as far as I can tell, creating a stable slashing algorithm that keeps the system democratized is only theoretical.
So basically the whole problem comes down to who gets to decide the rules, and in the PoS system, it is much easier to be corrupted. Thanks for your keen insight.