So as far as security goes, is it really fair

Question

So as far as security goes, is it really fair

to say mining is more security than proof of stake? With pool mining isn't the consensus put into just a few hands? Right now 40%+ of the hashrate is controlled by one pool.

#cryptocurrency #english #ergo

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29.11.2023

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Me (The Self Soveriegn Bank of) Автор вопроса

DiscordBridge
[@dΣathgripson] with stake one entity can print up...

Wouldn't that one entity need to buy up enough of a share to get to that point? So they would have little incentive to exploit the network they are heavily invested in. I could see this argument making sense from a token distribution perspective. Like how do you fairly distribute tokens in PoS?

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29.11.2023

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Me (The Self Soveriegn Bank of)
Wouldn't that one entity need to buy up enough of ...

[@dΣathgripson] no with proof of stake you can mint coins for free before the chain begins, in fact you need to or else you cant bootstrap the network unless you started with pow like eth

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29.11.2023

Me (The Self Soveriegn Bank of) Автор вопроса

DiscordBridge
[@dΣathgripson] no with proof of stake you can min...

Yeah similar to a premine, but I think at least with a premine you expended some energy. Albiet very little energy.

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29.11.2023

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Me (The Self Soveriegn Bank of)
Yeah similar to a premine, but I think at least wi...

[@dΣathgripson] depends on the premine circumstance forsure

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29.11.2023