Hello hellooo I am new here, to BC and to cryptos in general. I just bought some BC and was reading up on PoS coins and I had a question. Since this is a pure PoS coin now, how are security issues such as those discussed in the thread below addressed? I know Peercoin had to implement a PoS/PoW hybrid system to prevent such attack, and that many other coins implement a PoW/PoS hybrid system instead of pure PoS for the same reason. How is it possible to prevent attack forks with pure PoS?
https://bitcointalksearch.org/topic/proof-of-work-vs-proof-of-stake-bitcoin-ppcoin-168924
"There is absolutely no mention of the fundamental flaw in PoS consensus which none of your proposals have addressed: As of yet none of the proof of stake proposals are workable because there is nothing at stake! If someone is PoS mining it is in their best interest to attempt to concurrently build an honest chain as well as all possible attack forks just in case one of them happens to win. Under most schemes this is the profit maximizing move, in all I've seen so far its at least neutral. Mining an attack under PoW actually involves _spending_ something and taking the risk other miners will extend it. PoW works because your work is at stake so even a very small amount of honest miners make mercenary rational miners behave honestly too. "
Thanks any info would be appreciated, I am trying to understand this technology better now that I am involved with it
https://bitcointalksearch.org/topic/proof-of-work-vs-proof-of-stake-bitcoin-ppcoin-168924
"There is absolutely no mention of the fundamental flaw in PoS consensus which none of your proposals have addressed: As of yet none of the proof of stake proposals are workable because there is nothing at stake! If someone is PoS mining it is in their best interest to attempt to concurrently build an honest chain as well as all possible attack forks just in case one of them happens to win. Under most schemes this is the profit maximizing move, in all I've seen so far its at least neutral. Mining an attack under PoW actually involves _spending_ something and taking the risk other miners will extend it. PoW works because your work is at stake so even a very small amount of honest miners make mercenary rational miners behave honestly too. "
Thanks any info would be appreciated, I am trying to understand this technology better now that I am involved with it
It's been discussed by the Dev team and Sunny King (POS developer) agreed issue can be resolved by re-enabling POW but with a block reward of 0. It's being dealt with. But also understand it is only under extreme circumstances that this issue is even an issue at all.
