How does POS work?

[metalbean]

Hi,

How do you really proof your stake in ETH? Do people with more ETHs have a huge unfair advantage?

[kolloh]

Hi,

How do you really proof your stake in ETH? Do people with more ETHs have a huge unfair advantage?

Yes, proof of stake means that people with more ETH will earn more ETH through the staking system. I haven't read up too much on Ethereum's POS implementation, but that is at least how it works with Clam. You have a certain percentage chance to stake per coin so having more of the coin increases your chances at staking.

It looks like https://github.com/ethereum/wiki/wiki/Proof-of-Stake-FAQ is a good resource for reading up on ETH's implementation.

[odolvlobo]

Do people with more ETHs have a huge unfair advantage?

It is not an "unfair" advantage, by definition.

[darkangel11]

Hi,

How do you really proof your stake in ETH? Do people with more ETHs have a huge unfair advantage?

They have invested money into buying these coins, just like miners are investing into hardware. Would you say that a miner with more fiat to buy hardware has an unfair advantage over the others? From one point of view yes, but so do all the rich businessmen in the world. If you open a bakery and another baker has an uncle with millions of $, he'll be able to buy more ads, build a bigger facility, hire people to threaten you and force you out of business or buy you out, that's how the world works.

[coinswebid]

Hi,

How do you really proof your stake in ETH? Do people with more ETHs have a huge unfair advantage?

as i know proof of stake is someone who have more coin on their wallet, he will got interest from it..
but we know the mechanism of POS on eth,, because this not been release yet