My Actifit Report Card: September 9 2018

Centralized From the Start With False Promises of Fair Distribution

In contrast to PoW, a proof-of-stake (PoS) system is a protocol that forges blocks by the amount of ‘stake’ each participant in the network holds. Basically, proponents believe the consensus model can offer a better form of distribution and because there are no mining rigs ‘wasting resources,’ it may be friendlier to the environment. However, unlike reading Satoshi’s white paper, immediately after studying each type of PoS coin one can notice these projects are riddled with red flags. For instance, while some of these networks use a hybrid PoW algorithm prior to adding a staking functionality, a great majority of PoS currencies are created in private prior to launch, and some don’t have a fixed supply. How is this any different than the fiat system and central banking?

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