I went Googling for sources, and what I found says the opposite. Ethereum was becoming increasingly centralized under PoW but after the switch to PoS it became significantly more decentralized.
in order to stake to a pool, you need to lock your tokens away, making them impossible to spend for a specified time period.
This is exactly the point of proof-of-stake. You can't prove you've staked some coins if you don't actually stake them. If you've retained control over your tokens then they're not staked. I'm not sure how you think it could work otherwise.
most of the criticisms I have of ETH are more damming of the way they went about the transition between two radically different consensus algorithms than about Proof of Stake itself.
The transition from proof-of-work to proof-of-stake has been on Ethereum's roadmap since the beginning. It was rolled out in stages over the course of years. What was "damning" about the transition?
This is exactly the point of proof-of-stake. You can’t prove you’ve staked some coins if you don’t actually stake them. If you’ve retained control over your tokens then they’re not staked. I’m not sure how you think it could work otherwise.
WOW. Straight up wrong.
I’m guessing you have a YUGE bag of ETH staked. 🤣
Since you’re so wrong, it’s clear that you are absolutely guessing here while anon is spitting facts, being intellectually honest about which drawbacks actually exist in the world for proof of stake. Take the L, dude. haha
I googled "zero lock staking" and I'm not finding anything that contradicts what I said. There are systems that allow for delegated staking, where you hold transferable tokens that represent a share in a staking pool - rETH, for example. But there's still locked stake in that case. And this Quora response lists various proof-of-stake systems where you can unstake immediately, including Cardano and Polkadot, but those don't give you rewards while your tokens aren't staked - the token still needs to be locked during the staking itself.
I asked for clarification on what you found "damning" about the transition to proof of stake, I don't see how asking for clarification is "misinformation."
I presented a source for Ethereum's centralization trends. Got any of your own?
FaceDeer@kbin.social 8 months ago
I went Googling for sources, and what I found says the opposite. Ethereum was becoming increasingly centralized under PoW but after the switch to PoS it became significantly more decentralized.
This is exactly the point of proof-of-stake. You can't prove you've staked some coins if you don't actually stake them. If you've retained control over your tokens then they're not staked. I'm not sure how you think it could work otherwise.
The transition from proof-of-work to proof-of-stake has been on Ethereum's roadmap since the beginning. It was rolled out in stages over the course of years. What was "damning" about the transition?
demesisx@infosec.pub 8 months ago
WOW. Straight up wrong.
I’m guessing you have a YUGE bag of ETH staked. 🤣
Since you’re so wrong, it’s clear that you are absolutely guessing here while anon is spitting facts, being intellectually honest about which drawbacks actually exist in the world for proof of stake. Take the L, dude. haha
FaceDeer@kbin.social 8 months ago
You're guessing wrong, I'm not a "bagholder." I'm just interested in the tech.
I've provided specific examples and links to references. Anon's not done any of that, he's just got mad. Like you, too. Calm down.
an0nym0us@lemmy.dbzer0.com 8 months ago
FaceDeer@kbin.social 8 months ago
I googled "zero lock staking" and I'm not finding anything that contradicts what I said. There are systems that allow for delegated staking, where you hold transferable tokens that represent a share in a staking pool - rETH, for example. But there's still locked stake in that case. And this Quora response lists various proof-of-stake systems where you can unstake immediately, including Cardano and Polkadot, but those don't give you rewards while your tokens aren't staked - the token still needs to be locked during the staking itself.
I asked for clarification on what you found "damning" about the transition to proof of stake, I don't see how asking for clarification is "misinformation."
I presented a source for Ethereum's centralization trends. Got any of your own?
an0nym0us@lemmy.dbzer0.com 8 months ago