Re: [Bitcoin-development] Request for comments on hybrid, PoW/PoS enhancement for Bitcoin

[Chris Page <pagecr@gmail.com>]

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 I definitely need to have an deeper understanding of that paper before
proceeding.   Thanks for the reference!

On Wed, Feb 25, 2015 at 4:58 PM, Andrew Lapp <lapp0@purdue.edu> wrote:

> Having stakeholders "endorse" blocks has, according to you, the benefits
> of increasing the number of full nodes and making a 51% attack more
> expensive. It seems to me it would have the opposite effects and other
> negative side effects. Any stakeholder that has "won" could just be running
> an SPV client and be informed by a full node that they have won, then
> cooperate to collect the reward. You are mistaking proof of stake as a
> proof you are running a full node. At the same time, the network becomes
> cheaper to attack in proportion to the amount of the block reward that is
> paid to "endorsers". Another side effect is that miners would have a bigger
> economy of scale. The more stake a miner has, the more they can "endorse"
> their own blocks and not others blocks. I recommend reading this:
> https://download.wpsoftware.net/bitcoin/pos.pdf
>
> -Andrew Lapp
>

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