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Comment by snisarenko | Hacker News Reader

PoS will not solve anything. PoS is just obfuscated proof of work. The same amount of "resources" will be wasted in a PoS system, its just going to be a different type of resource.

Required reading

http://www.truthcoin.info/blog/pow-cheapest/

HN Discussion

https://news.ycombinator.com/item?id=16451187

Also newer article http://www.truthcoin.info/blog/pos-still-pointless/

View on HN

That's not even close to being correct, and blogs from maximalists are never a good source of correct information.

Happy to walk you through what PoS looks like in 2020, but you can look up the information yourself too.

Tell me, what does PoS look like in 2020, apart from delayed?

ps. Using the word "maximalist" immediately shrinks your audience to other die-hard crypto fans.

I'm not in it for the audience.. in any case, maximalism is mostly a self-assigned title and the author of that blog describes himself as such

edit: how can something that is being discovered be late? The work on PoS is almost completely greenfield and far from trivial. Many people made many far too optimistic comments about how long it would take to get it right but no one can say it's late...

Right, so when you say you'll tell us the state of PoS in 2020, the answer is "currently unsolved".

There are testnest live for some time now but there is still plenty to do before anyone should trust their funds into the staking contracts.

edit: I mean, several dPoS networks went live without spending enough time considering the game theory attacks, but now we've seen them used on EOS and more recently on Steem so thats why I (personally) believe a real PoS is still a few months away at best.

Given the unwillingness to back up your argument, would you instead simply show one pure Proof of Stake system that is used today?

If you can define "pure" in terms of how it relates to energy consumption, I can try.

The one PoS system I'm (edit: deeply) familiar with is Ethereum 2.0's, I wrote about it a couple of years back: https://medium.com/@jpa_of_snc/consensus-casper-and-cryptoec...

There are testnets using this already: https://medium.com/prysmatic-labs/ethereum-2-0-phase-0-testn...

Why does MC=MR imply TC=TR?

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