kaal:claim:4796714-014

Proof of Stake consensus centralizes control in proportion to the quantity of tokens held, so governance built on such chains is skewed in favor of the wealthy rather than distributed.

Similarly, Proof of Stake (PoS) consensus mechanisms, as implemented in Ethereum and other blockchains, centralize control based on the quantity of tokens held, potentially skewing governance in favor of the wealthy.

Wulf A. Kaal, AI Governance (2024), Recentralization, p. 27
https://ssrn.com/abstract=4796714 · source PDF

Wulf A. Kaal, AI Governance (2024). SSRN: https://ssrn.com/abstract=4796714

• applies to Proof of Stake chains such as Ethereum
• concerns token weighted governance power

failuresupport: arguedfailure: stake weighted governance capturefamily: plutocratic-captureconsensus-and-securitydecentralizationgovernance-designtokenomics

• supports kaal:claim:3227967-036 The real design challenge for consensus protocols is to find a proof of stake protocol that offers both trust ...
• restates kaal:claim:3266953-020 The fungibility of the staked currency is the main point of attack against proof of stake and leads inevitably...
• extends kaal:claim:3125827-009 Even though proof of stake mitigates the economy of scale advantage, block production cartels can still arise ...

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