Most people have toppled against centralized staking pools, resulting in massive losses within a short time frame. A decentralized staking pool that would provide users the ability to control their private keys, would be ideal to minimize risks as much as possible. So far, I'm not aware of something like this within the crypto space. But, if it becomes a reality, it could be quite revolutionary.
why do we need decentralized staking pools when we have dpos?
dpos coins doesn't need to provide private keys for staking and some new pos coins like solaris also supports cold wallet staking where coins and private keys are in your control and you are still getting stakes
also the massive losses are mainly the crypto market being bearish which is the nature of crypto itself
Good point. i guess my only problem with dpos is the small pool of validators. not security wise, im not overly worried about them ALL being compromised
but moreso how for example only maybe 50ish people (or 101 people in the case of lisk) can only delegate. everyone else still needs to pool their coins underneath the delegates
and all they get is the drippings, few % of the cut, and thats if the delegate dosent just rip you off, steal your coins, dump them and say fuk their spot in that coin as they just made $$$ scamming instead : /
of course anyone could TRY and be a delegate, but in the end there will only end up being a very small set amount : /
if dpos could include everyone equally somehow, then it would be perfect almost imo, but maybe thats just back to normal PoS then?
haha
With ever-rising centralized staking pool services, there's the need for decentralized alternatives to maintain cloud staking as censorship-resistant as possible. Most people have toppled against centralized staking pools, resulting in massive losses within a short time frame. A decentralized staking pool that would provide users the ability to control their private keys, would be ideal to minimize risks as much as possible. So far, I'm not aware of something like this within the crypto space. But, if it becomes a reality, it could be quite revolutionary.
Ethereum could quite benefit from this, once it becomes a full-fledged PoS cryptocurrency. If someone is willing to create a decentralized staking pool, then the best approach would be to make it as a smart contract. It could operate within the same ETH blockchain, distributing rewards to "stakers" worldwide without the need for middleman. With some ERC-20 tokens based on PoS (like PoSToken and Accelerator Network), the idea of a decentralized staking pool would seem to be the way to go nowadays.
Nonetheless, do you think something like is possible or not?
i gurantee there will be PoS pools for ETH, but they will prob be centralized (if not a smart contract automated ye), but if we trust a place thats not a big deal to me
ive been pool staking my DCR for years, its centralized behind a person running it, but the people are trusted so not a big deal to me personally
the problem with a smart contract is the whole DAO thing, if its big enough, it WILL be broken and robbed eventually
