As blockchain technology transitions toward proof-of-stake consensus models, a pressing question arises — will these systems maintain decentralization, or will rewards disproportionately pool among large players at the expense of broader participation?
Dr. Wenpin Tang, a leading researcher of blockchain incentives, analyzed these dynamics in proof-of-stake (PoS) systems using advanced mathematical models. His findings highlight and begin to unpack the complex forces at play.
In pure PoS chains like Ethereum, miners bid using their coin balances for validation rights with no trading allowed between miners. Winners earn more coins as rewards. This seems to favor large players, but Dr. Tang explains it’s more nuanced:
The key takeaway is it will be different for large and small miners. For large miners (e.g. Binance or Musk), their shares will be stable e.g. if they have 10% initial shares, they will also be close to 10% in the end. That is not the case for small miners (e.g. many ret
We współpracy z: https://cryptoslate.com/do-proof-of-stake-blockchains-trend-toward-decentralization-over-time/
