Casper protocol by Vlad Zamfir (slides) (DEVCON 1):

  • PoW vs Security-Deposit-Based PoS:
    • in PoW security, consensus should be more expensive for the network at all times than an attacker iswilling to spend at any time;
    • In security-deposit-based PoS security, consensus should be cheap for everyone except for an attacker, during their attack. This is economically much more efficient.
  • In PoS, consensus is ensured by depositing some value (money) that will be lost if the node behaves badly.
  • My easier to maintain than PoW and much cheaper.
  • Nodes must be online often enough to maintain the dynamic information (who is currently has active deposits) necessary for validating consensus