Epicenter - Learn about Crypto, Blockchain, Ethereum, Bitcoin and Distributed Technologies cover image

Vitalik Buterin: Ethereum, Proof-of-Stake, The Future of Bitcoin

Epicenter - Learn about Crypto, Blockchain, Ethereum, Bitcoin and Distributed Technologies

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The Biggest Dangers Are

A lot of bitcoin mining farms have no incentive to be secure. With prof of stake, you can have security deposits and so the penalty for doing something bad can be much, much higher than the reward. The kind of problem that would convince them is if there is a 51 % attack. Another possibility is il there are back door tricks to attacking proof of work. And other people also see this as being some kind of no subjectivity or even trust.

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