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RE: Ethereum Proof of Stake: Casper Explanation Part 1
Is not incompatible with distributed consensus. That's a fundamental in what the crypto world is about. But hey, it makes sense if you own a large portion of ETH and want to maintain it. https://download.wpsoftware.net/bitcoin/pos.pdf
Ya, I mean POS can solve a lot of problems of POW and the economics of slashing makes the system just as trusted. Thanks for sharing that link. I thought the concepts brought up in it are very interesting. Especially the sections about DMMS, which kinda sounds like a DPOS system.
What do you think about Ethereum using both POW and POS at TBD date? ( most likely at years end)
Also, do you think this will lead to a Hard Fork like Bitcoin Cash? Because that is where I am seeing this play out
I think the current system is ok, but I can understand why they want to pick PoS. Those in power will always choose self-preservation. It's why it made sense for Satoshi to leave BTC. It had to be fully decentralized. ETH is not like so. You have the developers really governing it like a company. And I agree, like you, that a split sounds imminent because they are playing with fundamentals. They could create a new chain that does PoS, but it's not about giving a new tool for humanity to use, it's about how to do it and stay rich. PoS does that for them. Hence, why I don't agree with it. They should have done that from the start, but it made no sense since they did not have network effect. With Bitcoin growing smart contract capabilities, I think ETH will end up another altcoin that almost made it.