My Notes: 5:20 Simple Proof-of-Stake Mechanism * In Proof-of-Stake (PoS) we calculate the next block producer * next_block_producer = hash_of prev_block % (total_amount_of_coins) * The more coins you have the more chances you have to be the next block producer * Problem 1: PoS is very dependant on the selected producer node, what if it gets offline? * Problem 2: There’s no right way to calculate the canonical chain * Problem 3: Predictability. “If I know Producer C will produce next block, I can try to DDOS them” * Nothing At Stake Problem: There’s no way to punish someone to try to do a Double-Spend attack * Solution: Having all selected producers watching each other through “slashing”
Total newbie here, setting up small mining operation on Isle of Wight. Does that mean if you hold a fair amount of ETH, but just 16 GPUs that you might win against a much larger farm?
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Another great in-depth video
Thank you so much! What a great video.
I love this guy
thank you so much for the next_block_producer explanation!
My Notes:
5:20 Simple Proof-of-Stake Mechanism
* In Proof-of-Stake (PoS) we calculate the next block producer
* next_block_producer = hash_of prev_block % (total_amount_of_coins)
* The more coins you have the more chances you have to be the next block producer
* Problem 1: PoS is very dependant on the selected producer node, what if it gets offline?
* Problem 2: There’s no right way to calculate the canonical chain
* Problem 3: Predictability. “If I know Producer C will produce next block, I can try to DDOS them”
* Nothing At Stake Problem: There’s no way to punish someone to try to do a Double-Spend attack
* Solution: Having all selected producers watching each other through “slashing”
Total newbie here, setting up small mining operation on Isle of Wight. Does that mean if you hold a fair amount of ETH, but just 16 GPUs that you might win against a much larger farm?