Example:
Penalizing someone if they lie does not necessarily incentivize/motivate them to tell the truth. They have another option entirely — they can keep their mouth shut and walk away.
Topic: What is the INCENTIVE to work for the the Proof-of-Stake system? (Read 138 times)
Hi everyone!
I feel like I have a pretty firm grasp of Proof-of-Work (POW) and am trying to understand Proof-of-Stake (POS) to the same degree.
Boiling down both of these different types of validations, I feel like it is fair to say:
What I'm wondering about POS is:
What is the incentive in POS to work for the system as an honest node and lock up a signifiant amount of native funds (for 30 or more days potentially) in hopes of being selected as a validator sometime in the (near?) future?
Thanks in advance for any guidance on this question.
I feel like I have a pretty firm grasp of Proof-of-Work (POW) and am trying to understand Proof-of-Stake (POS) to the same degree.
Boiling down both of these different types of validations, I feel like it is fair to say:
- With POW, security is predicated on the incentive to work for the system (as honest nodes). Aka "The race to reward"
- With POS security is predicated on the disincentive to work against the system (as dishonest nodes).
What I'm wondering about POS is:
What is the incentive in POS to work for the system as an honest node and lock up a signifiant amount of native funds (for 30 or more days potentially) in hopes of being selected as a validator sometime in the (near?) future?
Thanks in advance for any guidance on this question.
If you reffer to crypto coins then the PoS altgorithm is giving rewards, new coin every day depending how many coins you hold on wallet and the coins are not locked for 30 days and you can use all coins when you want.
Actually some staking poll lock your tokens for a while. Some of them locks 2 days, some other more than 2 days. For example can you give me how can you get back your IOST tokens when you want?
Hi everyone!
I feel like I have a pretty firm grasp of Proof-of-Work (POW) and am trying to understand Proof-of-Stake (POS) to the same degree.
Boiling down both of these different types of validations, I feel like it is fair to say:
What I'm wondering about POS is:
What is the incentive in POS to work for the system as an honest node and lock up a signifiant amount of native funds (for 30 or more days potentially) in hopes of being selected as a validator sometime in the (near?) future?
Thanks in advance for any guidance on this question.
I feel like I have a pretty firm grasp of Proof-of-Work (POW) and am trying to understand Proof-of-Stake (POS) to the same degree.
Boiling down both of these different types of validations, I feel like it is fair to say:
- With POW, security is predicated on the incentive to work for the system (as honest nodes). Aka "The race to reward"
- With POS security is predicated on the disincentive to work against the system (as dishonest nodes).
What I'm wondering about POS is:
What is the incentive in POS to work for the system as an honest node and lock up a signifiant amount of native funds (for 30 or more days potentially) in hopes of being selected as a validator sometime in the (near?) future?
Thanks in advance for any guidance on this question.
https://cointelegraph.com/news/casper-what-is-known-about-the-new-ethereums-network-upgrade
The validator node that solves a block would get the transaction fees of the block as a reward. Though the reward would be lesser, so would be the energy consumption and effort made in solving it.
Hi everyone!
I feel like I have a pretty firm grasp of Proof-of-Work (POW) and am trying to understand Proof-of-Stake (POS) to the same degree.
Boiling down both of these different types of validations, I feel like it is fair to say:
What I'm wondering about POS is:
What is the incentive in POS to work for the system as an honest node and lock up a signifiant amount of native funds (for 30 or more days potentially) in hopes of being selected as a validator sometime in the (near?) future?
Thanks in advance for any guidance on this question.
I feel like I have a pretty firm grasp of Proof-of-Work (POW) and am trying to understand Proof-of-Stake (POS) to the same degree.
Boiling down both of these different types of validations, I feel like it is fair to say:
- With POW, security is predicated on the incentive to work for the system (as honest nodes). Aka "The race to reward"
- With POS security is predicated on the disincentive to work against the system (as dishonest nodes).
What I'm wondering about POS is:
What is the incentive in POS to work for the system as an honest node and lock up a signifiant amount of native funds (for 30 or more days potentially) in hopes of being selected as a validator sometime in the (near?) future?
Thanks in advance for any guidance on this question.
If you reffer to crypto coins then the PoS altgorithm is giving rewards, new coin every day depending how many coins you hold on wallet and the coins are not locked for 30 days and you can use all coins when you want.
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