> You could argue that PoW and PoS tie wealth too directly to the "legislature" membership and we ought to use a democratic vote to decide the miners/executors.
Hence the advent of the DAO for governance alongside the actual utility tokens.
PoW and PoS tie wealth too directly to the "legislature" membership
There is that. But nobody seems to be able to make an alternative work. Etherium postponed proof of stake yet again. What was the excuse this time?
Amusing potential alternatives:
- Proof of Space. Nodes have to be some minimum physical distance apart, like a few kilometers, so you can't have "mines". This might be feasible via some low-orbit satellite network you can use to establish approximate location.
- Proof of Hate. Nodes are run by organizations that hate each other, so they won't collude.
Hence the advent of the DAO for governance alongside the actual utility tokens.