Subscribe to receive STORE research, news, and updates
Thank you! Your submission has been received!
Oops! Something went wrong while submitting the form.

About STORE

STORE is bringing Cloud 2.0 to the world with a zero-fee cryptocurrency and checks and balances governance.

BACK TO NEWS
August 01, 2018
-
5 min read

STORE Addresses “Rich Get Gradually Richer” Concern with its Leaderless Protocol and Decentralized Economics

A blog post on cointelegraph.com contends Proof of Stake blockchains create a “rich get richer” scenario for participants on the network. But STORE’s Chief Technology Officer Rag Bhagavatha argues Proof of Stake itself is not to blame.

A blog post on cointelegraph.com contends Proof of Stake blockchains create a “rich get richer” scenario for participants on the network. But STORE’s Chief Technology Officer Rag Bhagavatha argues Proof of Stake itself is not to blame.

Instead, it is the leader-based block production design used by Proof of Stake and Proof of Work protocols that creates a “winner take all” environment, skewing toward miners or stakers who have available resources to invest to try to “beat the system.”

BlockFin, STORE’s leaderless consensus algorithm with a decentralized economic model for block rewards, offers a more democratic process in which all validators have a chance to share the rewards of block production.

Bhagavatha shared this series of tweets recently to make his point:

BACK TO NEWS
STORE will change the world’s relationship to computing resources and data.

DISCLAIMER

The information provided on this website pertaining to STORE Labs, Inc, ("STORE") and $STORE tokens is for general informational purposes only and is not a formal offer to sell or a solicitation of an offer to buy any securities. While information on this website is believed to be accurate and reliable, STORE and its agents, advisors, directors, officers, employess and shareholders make no representation or warranties, expressed or implied, as to the accuracy of such information and STORE expressly disclaims any and all liability that may be based and such information or errors or omissions thereof. STORE reserves the right to amend or replace the information contained on the website, in part or entirely, at any time, and undertakes no obligation to notify you thereof.

Download the PDF