Chapter 12: Ethereum's Casper: Ghostbusting Proof of Stake Problems

by Tonino Jankov

Every complex society has many cases where a big number of players need to reach consensus. The main advantage of such a society is that people can agree and act together on different issues, and can solve more and bigger problems than individuals can do alone.

Society is based on consensus. Trade, diplomacy, finances — they all have this prerequisite of consensus. This has created a need for different mechanisms of governance to reach consensus. And with it, often, comes a lot of abuse, manipulations and rogue players.

To prevent different manipulations, we’ve had centralized institutions that gave us efficiency in reaching consensus and making decisions. The ...

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