Comment on Crypto mogul Do Kwon, known as ‘the cryptocurrency king,’ pleads guilty to fraud charges

• hark@lemmy.world ⁨2⁩ ⁨months⁩ ago

  If a cryptocurrency concentrates into the hands of a few, as assets tend to do in capitalism, then wouldn’t proof of stake mean those few control the cryptocurrency anyway?

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  • Knock_Knock_Lemmy_In@lemmy.world ⁨2⁩ ⁨months⁩ ago

    If the protocol is badly designed, yes.

    In theory, the stakers should only be rewarded for correctly confirming transaction and that capital (staked tokens) should carry no votes in any protocol changes.

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