# kaal:claim:3266953-020

**Claim.** The fungibility of the staked currency is the main point of attack against proof of stake and leads inevitably to centralization.

**Type.** failure  **Support.** argued

**Holds when.**

- proof of stake consensus using fungible currency

**Source quote.**

> The fungibility of currency is the main point of attacks on PoS and leads inevitably to centralization.

**From.** Craig Calcaterra, Wulf A. Kaal, Gopinath Sivalingam, *Reputation Protocol for the Internet of Trust - Conceptual Whitepaper* (2018), Anchor Protocol, page 14

**Cite as.** Craig Calcaterra, Wulf A. Kaal, Gopinath Sivalingam, Reputation Protocol for the Internet of Trust - Conceptual Whitepaper (2018). SSRN: https://ssrn.com/abstract=3266953

**Verify.** sha256 of source PDF `781758dea356e55d79c73ad7f1debe7c83de398bd1cd9e0a9a6c2802f276b4c0` at https://raw.githubusercontent.com/wulfkaal/Academic-Papers/main/papers/pdf/Calcaterra%20et%20al.%20-%202018%20-%20Reputation%20Protocol%20for%20the%20Internet%20of%20Trust%20-%20Conceptual%20Whitepaper.pdf

**Failure mode.** fungible stake centralization  (family: recentralization-drift)

**Topics.** consensus-and-security, decentralization

**Keywords.** proof-of-stake, fungibility, centralization, attack-surface

**Related claims.**

- restated_by: https://wulfkaal.github.io/claims/4796714-014
- extends: https://wulfkaal.github.io/claims/3125827-009
- extends: https://wulfkaal.github.io/claims/3227967-036

**Canonical form.** This markdown file is the canonical hashed representation of the claim. Its sha256 is the content hash used for attestation.