Between proof-of-work and proof-of-stake, It’s not really about which is better; it’s about tradeoffs. gckaloudis writes in this week’s Crypto Long & Short newsletter.
There are so many awful comparisons people use to describe proof-of-stake. Here’s one of mine.
In the world of Ethereum specifically, it is very expensive to become a validator. To become a validator and participate in the lottery, you need to commit 32 ETH . Granted, there is a mechanism in which you could commit less ETH to a, but that isn’t the same thing. The high starting cost could result in a “rich blockchain” with only wealthy capital holders participating in validating.
, all it takes to attack a PoW network is “electricity and hardware brought together at the right time at the right place with the right incentives” and logistically, this is becoming harder and harder to pull off. With PoS, all it takes is money. To the credit of Ethereum under PoS, it will still take a lot of money to attack the network, but it requires less coordination.
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