Proof-of-stake is inherently self-referential
I&#x27;ve done a little bit of research into event-sourced databases and journaling filesystems, but not nearly enough to be on expert on them. I think this article touches on exactly the crucial point.<p>If I have a private key to my coins, why is someone else allowed to disallow a transfer of them? When I announce a transaction, because of the way mining works, that transaction gets sent to every miner, so that if they were to solve the block they could include my transaction.<p>Why is Bitcoin made up of back-links to previous blocks? Isn&#x27;t a block no more than a memoization of a event-sourced log at a point of time? That&#x27;s just a really badly constructed journaling filesystem.<p>Instead there should be no cryptographic mining PoW or PoS, all online miners would track all transactions since the last block was created. If at any point they did not have all of the transaction(which means if anyone else has reported a transaction that they have disallowed, easily compared by simply checking every miners head hash), they are considered to be offline and do not receive a mining share. All miners who are online when a new memoization is created gets a share of the reward.<p>Help me out here, why do we need to solve the Byzantine General&#x27;s problem for this?