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Results tagged with proof-of-stake
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user 24925
Proof of stake is an alternative consensus mechanism that adapts mining success chances with the proportion of the cryptocurrency's tokens held by the miner.
6
votes
Accepted
What is stopping someone from creating their own "chain" in Proof-of-Stake systems?
This problem is generally known as "nothing at stake" or "costless simulation", where there is indeed nothing preventing anybody from making arbitrarily long chains where they are the only participant …
- 15.5k
3
votes
Why is POW/POS absolutely necessary to run public distributed ledger?
You can't do this due to the Sybil Problem. There is no way of proving a node is an individual participant in the system, you can't prove that a node existed at any point in time (or didn't), and ther …
- 15.5k
4
votes
Accepted
In Proof-of-Stake, can the same miner mine a block multiple times in a row?
Can the same miner / address / person be chosen to create multiple blocks in a row
Yes, a single entity can mine multiple blocks in a row with no ill effect.
are there some mechanisms prevent …
- 15.5k
4
votes
How does Peercoin (or other PoS) prevent timestamp forging effecting hash attempts or random...
The general problems you are describing are inherent flaws in PoS, but you've caught onto some of the basic principles that are going to impact the security and integrity of the cryptosystem.
Any …
- 15.5k
3
votes
Accepted
In Proof-of-Stake, can a block creator fudge the block hash?
Absolutely. ECDSA signatures at not unique, they can always be permuted by the signer at will by re-signing with a new nonce. The creator of the block can also choose to reorder or omit transactions t …
- 15.5k