I had the great pleasure last year of having a comprehensive discussion on the main cryptocurrency anti-sybil mechanisms, proof-of-work and proof-of-stake, and their various drawbacks and advantage. We cover the difference between the two and the difference in sunk capital in the security models for each, token versus mining equipment ownership, and which one may work better for security. We also discuss whether it's possible to start out purely as a proof-of-stake project and remain decentralized, or whether all functional projects need a proof-of-work start. Finally, we cover hybrid models that may combine the best of both worlds, or the best of neither.
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