Why RaiBlocks needs to implement Proof of Stake

[johnatunum]

https://www.bitcoinbeginner.com/blog/raiblocks-needs-proof-of-stake/

tl;dr: RaiBlocks is awesome, but voting is highly centralized (devs control 56%). Proof of Stake would be trivial to implement, and at just 1% inflation per year, support 4k nodes each making $20 worth of XRB per day.

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[GooddyLife]

https://www.bitcoinbeginner.com/blog/raiblocks-needs-proof-of-stake/

tl;dr: RaiBlocks is awesome, but voting is highly centralized (devs control 56%). Proof of Stake would be trivial to implement, and at just 1% inflation per year, support 4k nodes each making $20 worth of XRB per day.

i said the same thing to my friends about xrb, but they're talking for everyone buy xrb cuz they'll be the future, the bitcoin future lol
i don't think so, maybe it get 50$ until the end of 2018. or 100$ maxx. None of famous exchange still accept xrb yet, i'm confunsing to hodl or not to hodl.

[johnatunum]

I'm hodling.  It's the best thing since sliced bread. The only way to improve it is to 1) decentralize the network and 2) somehow add in privacy.

I think when it hits the major exchanges it's gonna hit top 5.

[Gaius Cryptus Tradius]

Oh, I didn’t know that about the consensus algorithm, I thought it was the usual mining stuff, but is it similar to masternpdes then?

[johnatunum]

There's no mining in RaiBlocks.  If there is a disputed transaction, the "representatives" vote on which is right.  Each vote is weighted by how many XRB are associated with that representative. Right now the devs control the vast majority of the votes.

Representatives are expected to be always online and help secure the network, but there's no incentive for them to do so, which is the problem.

https://bitcoinbeginner.com/blog/what-is-raiblocks/

[poodle63]

https://www.bitcoinbeginner.com/blog/raiblocks-needs-proof-of-stake/

tl;dr: RaiBlocks is awesome, but voting is highly centralized (devs control 56%). Proof of Stake would be trivial to implement, and at just 1% inflation per year, support 4k nodes each making $20 worth of XRB per day.

finally, it's revealed about the raiblock is a centralized coin. But it will stay on the centralized thing because there is no consensus mechanism on it. basically, iota will be the same as raiblock and it's centralized too.
DAG has controlled by the developers my thought.

[logosobscura]

https://www.bitcoinbeginner.com/blog/raiblocks-needs-proof-of-stake/

tl;dr: RaiBlocks is awesome, but voting is highly centralized (devs control 56%). Proof of Stake would be trivial to implement, and at just 1% inflation per year, support 4k nodes each making $20 worth of XRB per day.

Not entirely sure it needs PoS, it may be another solution but the centralization is a concern. PoS may if badly implement compound that concern, or alleviate it- better to move slowly and correctly than move quickly and in the wrong direction.

[rex9]

Reduced centralization risks, as economies of scale are much less of an issue. $10 million of coins will get you exactly 10 times higher returns than $1 million of coins, without any additional disproportionate gains because at the higher level you can afford better mass-production equipment.