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RE: There's Been a Disturbance in the Force!

in LeoFinance3 years ago

Binance chain uses proof of authority(PoA) while binance smart chain(BSC) uses Proof of staked authority(PoSA).

PoSA based on my research is a combination of PoA and DPoS where the network first relies on a central body to assign a group of "reputable validators" to be officially voted in to secure the network by coin or token holders.

As in the case of BSC, 21 validators are voted in by coin holders, based on my research.

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This seems to align with the research that I have done as well.

The thing is that Binance has enough stake to elect 21 sock-puppet witnesses, and even if they didn't have enough stake they could just veto every single block producer that wasn't one of their nodes. Not a great look.