RE: Koinos Consensus Algo: Proof-of-Burn

You’re absolutely right. It’s a good start, not a cure. It’s a “mitigation” which is a word I really like. We rarely say we’ve solved a problem, just that we’ve “mitigated” it which basically means “reduced the odds that the negative scenario will result.” Especially in decentralized networks it’s almost never the case that any event is “impossible” because a 51% attack is always theoretically possible and then all bets are off. Good software engineering is really about compounding mitigations until the probability of the negative outcome comes as close to zero as the user is comfortable with given the capital constraints.

Really enjoyed your post. Appreciate your self-awareness and open-mindedness.