| It's weird for me to read HN and see people speak of PoS as some kind of new cutting edge technology. Maybe some of the issues with it may or have may not been solved but it is so damn old now that it's 2021. Like the first live real money implementation of a PoS chain was done by SunnyKing back in like...I want to say 2012, but maybe 2013. SunnyKing was the same guy who went on to make the somewhat interesting PoW function via finding largest prime numbers(arguably somewhat useful PoW, certainly more than double SHA-256), Primecoin. Then in a larger scale there was NXT which was like 2013-2014ish, full PoS. I don't care about the merits of these particular chains, but PoS was one of the earliest innovations in blockchain tech. The lineage was roughly something like: 0. All the centralised pre-Bitcoin cypherpunk digital currency stuff from the mailing list like Bitgold, Chaumian ecash whatever. 1. Bitcoin 2. Namecoin(decentralized DNS) 3. Feathercoin/Litecoin(Bitcoin with 0.25 block target time and 4x total coins), arguably shouldn't be on the list for 'innovation' but Litecoin is successful(at some point they changed the PoW work function to scrypt so I guess it counts, there were other scam coins around this time too doing the same thing. So I don't necessarily mean Litecoin was 'third place' overall, just that it ended up rising from the pile of shit). 4. Different forms of PoW functions. ie Litecoin doing scrypt so people could still use their ATI Radeon 4xxx to mine and not order ASICs from shady companies), Cryptonight stuff maybe(lies about it being 'developed on the darknet for years and being related that cicada thing' before and such, hard to make an accurate timeline for that one(ended up forked off as Monero, possibly post-PoS tech)). 5. PoS, 2012-2014ish. Probably didn't come before different PoW functions but it might have switched with #4's place, hard to remember the exact timelines, but people were trolling and making fun of PoS ever since it was theorized. Probably because a true fully realized PoS that is superior to PoW is a threat to the massive investments one must put behind PoW systems, which also becomes the root of their 'nothing at stake' arguments against PoS, which certainly had merit back then with early PoS implementations. I wonder if those truly got solved. This was all like 2014 at the latest. Very old stuff but crypto is full of sales snakes(not targeted at you at all) who try to sell other peoples old open source tech as new modern innovations. It's a familiar pattern. People sold Bitcoin as private and anonymous for years...like way too long. I'm imagining now there will be a point when PoS is 10+ years old and people will acting like it's the newest thing on the block still. |