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RE: Steemit Crypto Academy Contest / S12W5 - Understanding Slashing In Crypto
Knowing that my stake will be slashed if I misbehave will help me to be very careful and avoid being careless. Validators in a proof of stake Blockchain must really act with honesty and dedication knowing what lies ahead.
You have explained what slashi7.eans in a simple terms which is easy to understand. I agree that steem doesn't make use of slashing but delegated proof of stake and the witnesses are punished by being voted out. But if slashing is to be used, I believe it they will know that they will loose something and apply more caution. Don't you think so?
Thank you for your detailed entry
slashing is good in a way that blockchains that are using this mechanism their validators are much careful because they know that if they would try to manipulate blockchain or do any malicious behaviour than there stake tokens would be cancel out which would be very detrimental for them financially so it is a way to have more honest validators
Yes definitely I extremely agree with your question that if slashing would be in use then validators would take more precautionary measures so that they may not lose anything overall I really like your comprehensive comment at my entry I wish you success in your participation which I have already visited and it was really really informative and good