How to mitigate risk in proof of stake

In my last article I discussed about the proof of stake(Pos) consensus mechanism and it's advantage and disadvantages and ofcourse today I will like to discuss possible ways to combat or mitigate the risks or the disadvantages present in the proof of stake consensus mechanism which naturally boils down to having a centralized system which could potentially lead to security concern for the blockchain in other for that not to happen they are ways for this to be combated which I will discuss today.

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How to combat centralization risk in proof of stake consensus mechanism

Well one of the way I believe that the issues in PoS mechanism could be handled is to ensure that the tokens are being distributed equally, in a truly decentralized manner instead of few persons having a huge sums of it leading to concentration of power, by ensuring for an even distribution of the blockchain token it will help prevent this and that's a fine way to ensure the chain doesn't become centralized.

Then I also believe that the way validators are choosen should be readjusted, instead of simply selecting validators from early adopters who likey has higher stake it's best to make this selection process in a very random manner, yes any of the network users could be randomly selected to validate blocks in the chain and verify transactions in a truly decentralized nature completely spontaneous instead of just the few participants with large stakes, if this is done it will help a great deal in reducing the risk of a centralized blockchain.

Also in other not to create a system where only are few individuals are in power probably due to certain criteria for selection that makes them well suited it's wise to occasionally rotate the blockchain validators this I believe will make more sense and help in the bid of the blockchain not becoming centralized as same opportunities will be given to everyone on the chain and nobody will feel they are untouchable or that being a validator is their right, so by rotation process it ensures opportunities are given to everyone and this will also benefit the chain and even much larger people will be able to bring their contribution to the network and also help to negate the idea of centralized authority or entity.

I also believe there should be penalty for any of the network validators who feels they can use the position to do something that serves just their interest, that person hoping to satisfy his nefarious purpose should be penalized this will help to stop centralization of power by the network validators and I also believe that there should be incentives for all the validators, it shouldn't just be for the big validators as when the big validators are only being rewarded it will create concentration of power and wealth which thus creates an unbalanced system leading to centralization.

It would be important to ensure all in the network as long as such a user or participant is a token holder to be able to participate in the governace of the chain, if only the few who has large stake are allowed to take important decisions that affect the the chain it will create a system where a few has large influence on the blockchain which will be bad decentralization and security of the chain that's why I feel when all token holders participate in the governace of the chain it will ensure that before a decision is taken its the will and benefits of all the network users not just the choice of a few which will negate the very idea of decentralization, so in other to achieve true decentralization all the token holders has to partake in the blockchain governace.

It wouldn't also hurt to ensure all in the chain are properly trained and made to understand how important decentralization is to a blockchain, I mean if a blockchain loses its decentralization the blockchain loses it meaning, because with decentralization goes security and scalability alone wouldn't really make much sense so that's why it's vital for all in the network or community per say needs not to be ignorant of the magnitude of importance decentralization is when they are properly educated on this they will thus be moved to be a more active user in the chain which will help to achieve decentralization and they will be engaging a wider area of network in the process.

Conclusion

I am of the opinion that will these little options I have provided, if and only if developers are to look into this then there is a chance of making proof of stake a formidable consensus mechanism, which has no risk of centralization as it would have been combated.