In the proof of stake application, a block is accepted by the network only if it carries proof of success in a betting pool, and that stamp constitutes the entire cryptographic security of the chain at far lower energy cost than proof of work mining.
Source quote, verbatim
Blocks will only be accepted by the network if they have proof of success in a betting pool. This stamp is the entire cryptographic security, which costs far less energy to achieve than proof-of- work token mining.
From
Craig Calcaterra, Wulf A. Kaal, Vlad Andrei, Blockchain Infrastructure for Measuring Domain Specific Reputation in Autonomous Decentralized and A (2018), 7.4.1 Example: Proof of stake, p. 34 https://ssrn.com/abstract=3125822 · source PDF
Cite as
Craig Calcaterra, Wulf A. Kaal, Vlad Andrei, Blockchain Infrastructure for Measuring Domain Specific Reputation in Autonomous Decentralized and A (2018). SSRN: https://ssrn.com/abstract=3125822
Holds when
applies to the proof of stake use case built on the platform
Classification
mechanismsupport: arguedconsensus-and-security
Related claims
extendskaal:claim:2992962-007 Proof of work mining carries significant externalities: the authors estimate that the total energy cost of run...
restated_bykaal:claim:3125827-032 SPoS is far more computationally efficient than proof of work implementations because nodes no longer hash min...
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