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by viraptor
871 days ago
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Proof of work is converted into proof of stake trivially all the time. You stake by buying lots of mining hardware and power. The more you spend (the richer you are) the more you gain. The work part is just a wasteful, unnecessary step. It's even worse, because with $1k I can barely afford one miner locally. With $1M, I can afford to buy many (and better ones) and put them in an efficient location with a custom energy plan, etc. This means the actual PoS has linear gain, but PoW is closer to exponential. (The more you have the better the RoI % you can afford for yourself) |
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