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