Home Coins Decred (DCR) Notable Bitcoin philosopher Eric Voskuil answers the hypothetical, “how does Decred fail?”

Notable Bitcoin philosopher Eric Voskuil answers the hypothetical, “how does Decred fail?”

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Notable Bitcoin philosopher Eric Voskuil answers the hypothetical how does
Notable Bitcoin philosopher Eric Voskuil answers the hypothetical how does


Eric Voskuil is a Bitcoin thinker, distributed methods knowledgeable, frequent speaker at main trade conferences and lead developer of *libbitcoin*, the oldest different full node implementation of Bitcoin. In his [cryptoeconomics writings](https://github.com/libbitcoin/libbitcoin-system/wiki/Cryptoeconomics), Eric solutions the hypothetical, “how does Decred fail?”:

> Overcoming censorship just isn’t doable in a PoS system, because the censor has acquired majority stake and can’t be unseated. As such PoS methods should not censorship-resistant and the speculation is subsequently invalid.

https://github.com/libbitcoin/libbitcoin-system/wiki/Proof-of-Stake-Fallacy

As for a way this is applicable to the Decred system: the entities which collectively management the Decred ticket pool have the facility to undo blocks assembled by PoW miners, or IOW they’ve the facility to “censor”. In Decred, the ticket pool can vote to undo blocks and destroy “misbehaving” PoW miners by stripping them of block rewards. It is completely the case PoS has energy over PoW in Decred-land.

As a result of it is *theoretically doable* for a censor to acquire the DCR enough for controlling the ticket pool, it follows Decred is absolutely able to turning into now not censorship resistant, if it ever was. This thought experiment is kind of alongside the identical strains because the Zcash trusted setup, in that for those who’re counting on Decred to be censorship-resistant, then you will need to assume the ticket pool is not surreptitiously managed by a would-be censor. Whether it is, then this, women and gents, is “how Decred fails”.



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