Proof-of-Stake & the Wrong Engineering Mindset

  1. PoW protects the future: When there’s a chain split, it gives us an objective mechanism, automatable way of resolving conflicts, without requiring manual human intervention or trusted third parties.
  2. PoW protects the past: Getting control of majority hash rate still costs an attacker an enormous amount of time & money to rewrite history, so the balances are somewhat safe.

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