> The problem with the whole "priced in" scenario is that the market has never been able to price any event in. The asset simply becomes overpriced and crashes into its actual value

💪👍

The difference between PoS and dPOS is that dPOS is a **consensus mechanism** and PoS is not. Proof-of-Work is also a Proof-of-Stake and neither PoW nor PoS yield consensus as output. PoW is basically
> let ***h= SHA256(ak)***
***i*** = >  Miner who wants to add a block
***o*** => Transactions
***i pub*** => Public Key of ***i***
Proof-of-Work: find a nonce such that: ***SHA256 (h|i pub|o| nonce) < H***
Where ***H*** is the Difficulty parameter.

Where is the consensus 🤷‍♀️ 🤷‍♂️. The real function of PoS/PoW (besides that is a lottery for the block-reward and a Sybil-resistance Mechanism) is that it is a **clock**.

The very core problem of distributed consensus is proven by the **`FLP-impossibility theorem`**: "In an open, hence **>>asynchronous<<** network one cant reach consensus when only one node can fail"

asynchronous means open for everyone at any time. Since blockchain is about EXACT order of events, whose clock do you want to take for synchronization? Right no ones. **Who ever controls the time, controls the chain** (however an atomic clock wouldn´t even been sufficient due to network delays). So Nakamoto substituted time by entropic-difficulty. <-- this is the fundamental reason for PoW. 2^128 or 2^256 hidden bits of entropy or what ever you wish is universal more exact than human time could ever be. More hash-power does not mean that you are faster, simply that you have a higher probability since SHA is a [memoryless-function](https://en.wikipedia.org/wiki/Memorylessness).

What Larimer  did was *"fuck it, we go back to classical consensus from the pre Bitcoin era"*. dPOS is based on a ***synchronous*** = very small, very controlled consensus layer. `21 -fixed`. "Classic" means all-to-all communication. Like in any other BFT-System e.g. the nodes in a plane or nuclear power plant (Byzantine Fault Tolerance is old stuff). <-- THIS is why dPOS can only have 20-100 Witnesses. 100 nodes would all ready mean: `100x100=10,000` messages and then it is final. The Stake in dPOS is for the election only.

In PoS the Stake is a synchronization criterion for an **>>asynchronous<<** network (where everybody can join as a "Witness".)- this is why they talk about *"synchronicity-assumption"*. Vlad Zamfir made some [mistakes](https://pyrofex.io/wp-content/uploads/2018/12/Incorrect-By-Construction.pdf) in "minimal CBC" but now Casper CBC is a beast.