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Just 137 crypto miners use 2.3% of total U.S. power — government now requiring commercial miners to report energy consumption (www.tomshardware.com)

submitted 2 years ago by [email protected] to c/[email protected]

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[–] [email protected] 0 points 2 years ago (9 children)

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?

[+] an0nym0us 5 points 2 years ago* (last edited 2 years ago) (6 children)

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[–] [email protected] 1 points 2 years ago (5 children)

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?

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