• Knock_Knock_Lemmy_In@lemmy.world
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    3 hours ago

    How is that misleading

    The word elected implies power. Having more money staked doesn’t give you any more abilities over a capital poor user.

    proof of stake sounds like rich get richer scheme

    Like all capitalism. An interest bearing bank account is a rich get richer scheme.

    In PoS you do still have to do a bit of work for your money (hardware, power, network connection, verification).