{"type":"rich","version":"1.0","author_name":"npub12tjaqer27049ejmvf0f3yd7kq6p93gg6ecavgrczge4rlzf59y5q2pye9h","author_url":"https://nostr.ae/npub12tjaqer27049ejmvf0f3yd7kq6p93gg6ecavgrczge4rlzf59y5q2pye9h","provider_name":"njump","provider_url":"https://nostr.ae","html":"📅 Original date posted:2021-06-15\n📝 Original message:@Lloyd wrote:\n\nOf course in reality no one wants to keep their coin holding keys online so\n\u003e in Alogorand you can authorize a set of \"participation keys\"[1] that will\n\u003e be used to create blocks on your coin holding key's behalf.\n\u003e Hopefully you've spotted the problem.\n\u003e You can send your participation keys to any malicious party with a nice\n\u003e website (see random example [2]) offering you a good return.\n\u003e Damn it's still Proof-of-SquareSpace!\n\u003e\n\nI believe we are talking about a comparison to PoW, correct? If you want to\nmine PoW, you need to buy expensive hardware and configure it to work, and\nwait a long time to get any return by solo mining. Or you can join a mining\npool, which might use your hashing power for nefarious purposes. Or you\nmight skip the hardware all together and fall for some \"cloud mining\"\nscheme with a pretty website and a high rate of advertised return. So as\nyou can see, Proof-of-SquareSpace exists in PoW as well!\n\nThe PoS equivalent of buying mining hardware is setting up your own\nvalidator and not outsourcing that to anyone else. So both PoW and PoS have\nthe professional/expert way of participating, and the fraud-prone, amateur\nway of participating. The only difference is, with PoS the\nprofessional/expert way is accessible to anyone with a raspberry Pi and a\nweb connection, which is a much lower barrier to entry than PoW.\n-------------- next part --------------\nAn HTML attachment was scrubbed...\nURL: \u003chttp://lists.linuxfoundation.org/pipermail/bitcoin-dev/attachments/20210615/b25a4a2e/attachment.html\u003e"}