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Myth: Proof-of-stake is not as secure as proof-of-work

Every PIVX transaction must be double-validated by a random staker and masternode, and then confirmed 101 consecutive times by random contributors. An attacker would need to own 70.7% of staked coins for a 50% chance of double spending or invalidating a single block. A successful PoS attack would greatly de-value the attacker’s assets when discovered, whereas a successful PoW attack may cost an attacker only electricity. Also, PIVX staking can be decentralized amongst all of its users and cannot be traced by electricity use, whereas mining is usually centralized by mining cartels, concentrated in regions with cheap electricity, and is traceable by high constant power demand. Work in progress.