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I could be wrong but the Lightning Network is hardly a proof of stake system, just used to open up state channels between two members for lots of off chain transactions before finalizing on the main chain.


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Proof Of Stake tackles scale and cost. Perhaps Lightning Network or Open Transactions are better approaches?

Ethereum does not use Proof of Stake, it is a proposed change that is being worked on, with a timeline of several years before it will be put into action, and that's only if the network accepts it.

I can't tell if this is a joke or not but i'll bite. Delegated proof of stake is exactly as you describe and there are 10+ $1B chains that have this mechanism.

It's not. It still uses proof of work, for now at least. They say they want to implement proof of stake. THAT will be interesting, but I want to see if they ever get there.

Proof of Stake is Proof of Work with more steps, it just pushes the work into non transparent processes.

You mean proof of stake? Is there a working implementation of proof of stake yet? I thought it was mostly theoretical and academic at the moment.

That's absolutely not true.

Heck proof of stake is significantly less secure because you can have stakes working together to game the system.


Which proof of stake systems currently exist and work well?

Proof of stake is a decentralized consensus mechanism that is (usually) trustless, and prevents attacks like double spending.

Most notably, Solana, Cardano, Polkadot, Avalanche, Terra, Algorand, Polygon, Elrond, and Fantom are all using permissionless networks where nodes which have some amount of the native token of those blockchains staked produce blocks and validate transactions


Yes but keep in mind that most of all the active chains are using proof of stake now.

Might want to read about proof of stake.

So it's nothing new. Ethereum and Peercoin and Nxt do proof of stake.

That's not a proof that no Proof of Stake system can work. It's a list of possible attacks, at least some of which are mitigated by recent Proof of Stake designs. See Vitalik's post here: https://www.reddit.com/r/ethereum/comments/3y0ysi/understand...

A fairly detailed description of that system is here: https://blog.ethereum.org/2015/12/28/understanding-serenity-...


Proof of stake is not trustless.

Proof of stake is a different security model. It may work but it has not been proven in a $1 trillion high stakes environment yet.

What about proof of stake or off chain transactions

Ethereum is slated to use proof of stake soon too (no idea how soon, AFAIK it was supposed to be last December).

Interesting comments! Do you mind sharing your thoughts on why proof of stake won’t happen?

Not in proof of stake (which provides it through stakers instead), which is what this whole thing is about.
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