Less than a year after Ethereum adopted proof-of-stake (PoS), researchers are contemplating if this mechanism could team up with Bitcoin. At the 2023 Bitcoin Builders conference in Miami, Stanford University’s Professor David Tsè presented some intriguing findings. Spoiler alert: Your favorite cryptocurrency could be chummy with its proof-of-stake rival.
The Genesis of the Study: A Love for Bitcoin
Professor Tsè leads a research group at Stanford focusing on blockchain consensus protocols. He reminisced about Bitcoin: “Bitcoin was like our first love” — a sentiment that might resonate with many who have held onto their digital coins through thick and thin. This team dove deep into Bitcoin’s proof-of-work (PoW) system before discovering the potential sweet spot of combining it with PoS.
Capital and Security: The Dynamic Duo
According to Tsè, PoS blockchains suffer from a couple of serious issues. On one hand, they crave capital for security. “If you don’t have capital, you don’t have enough security,” he noted with an air of frustration. This means new blockchains struggle without sufficient stakers. On the other hand, Tsè classified PoS as having “short-range” security compared to Bitcoin’s formidable
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