Proof-of-Stake, Private Keys Attacks and Unforgeable Costliness the Unsung Hero

  1. Old private keys attack

Stake participation

So far in this analysis we have assumed that the worst-case here is an attacker gaining control over 1/3+ of the total coin supply, which is hard but not impossible. But in reality, the requirement for the attacker is much lower since the attacker only needs 1/3+ of the active stake.

Unforgeable costliness: the unsung hero

Taking a step back, let’s break down the secret behind Bitcoin’s breakthrough innovation. There are three key ingredients:

  1. Randomness
  2. Unforgeable costliness
  3. Incentives

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