BTC098: Proof of Stake (PoS) Versus Proof of Work (PoW) w/ Jason Lowery (Bitcoin Podcast)
We Study Billionaires - The Investor’s Podcast Network
Understanding Stake Control in Proof of Stake Systems
This chapter explores the distinctions between Proof of Stake and Proof of Work mechanisms, emphasizing the impact of stake ownership on validator control. It discusses the potential risks of centralization in PoS networks and contrasts the dynamics of staking with the hashing processes in PoW systems.
IN THIS EPISODE, YOU’LL LEARN:
- 01:58 - Why are property rights an important starting point for understanding the differences between Proof of Work (PoW) and Proof of Stake (PoS)?
- 07:41 - What is Abstract Power versus Physical Power and why are they important for understanding PoS Vs PoW?
- 20:45 - Why do the rules around property rights keep breaking down throughout time?
- 40:45 - Explain the importance of basic computer science and how computer programs work so we can understand the differences in PoS and PoW.
- 49:50 - A general introduction to PoS and PoW.
- 57:25 - Hal Finney and Adam Back’s contributions to developing the first blockchain.
- 01:15:15 - If you were going to exploit a PoS or PoW system, how would that work?
- 01:23:08 - Creative destruction and how it applies to protocols.
- 01:31:59 - Jason’s thoughts on Jamie Dimon liking everything but PoW.
- 01:38:15 - Vitalik Buterin’s comments on PoS not being tethered to physical reality.
- 01:42:17 - How has the faculty at MIT responds to your research?
- 01:58:30 - If you had a message to policy makers, what would it be?
*Disclaimer: Slight timestamp discrepancies may occur due to podcast platform differences.
BOOKS AND RESOURCES
- Join the exclusive TIP Mastermind Community to engage in meaningful stock investing discussions with Stig, Clay, and the other community members.
- Jason Lowery's Twitter
- Jason Lowery’s website and writings on Bitcoin.
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