3
All PoW schemes tend to concentrate miners in pools to have a more steady income for the miners, while the major PoS coins, such as NXT, also end up concentrating the stake because of leasing. But, does there exist any cryptocurrency that doesn't tend to centralization?
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With P2Pool there's no central pool authority so it's as decentralized as it gets. The problem is that miners don't like to use it because it requires a copy of the entire blockchain. I hope this gets fixed with new bitcoind version that allows to prune and delete some history, and would therefore allow to run full nodes with less effort.
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No. It is impossible. People always want to have more money/power than others.
2Yet, if you found a way to make NXT's mining costless, everybody could be mining alone, thus deleting any mining centralization, therefore if you could find some way of passive mining, you would have solved the problem. Also it could be done so descentralization advantages outweight centralization advantages economically, giving some kind of bonus if decentralization was proven. Personally, I prefer the idea of making mining embeded in the protocol in such a way that it becomes free. – foobar – 2015-06-11T17:28:09.053
True. I was going to say cycling the algorithms would slow down ASICs but there's a limit of secure algorithms and it certainly wouldn't be hard to design FPGA/ASICs in anticipation of a new algo – Wizard Of Ozzie – 2015-06-12T03:11:12.443
So, does some PoS coin that has some kind of 'virtual' mining exist? – foobar – 2015-06-12T17:20:20.090
Costless mining does not secure blockchain even if exists in our Universe. Nothing is costless – amaclin – 2015-06-13T19:00:27.460
It would secure the blockchain the same way NXT, Peercoin or any other Proof of Stake coins do, a way which is considered to be safe. – foobar – 2015-06-13T20:05:48.683
2P2Pool doesn't provide an income as steady as the ones from centralized pools and never will, because that will mean that all peers would have to check every "try" of the other participants, something just unfeasible. – foobar – 2015-06-11T17:21:14.253