Gavin Wood: NPoS is dragging down the Polkadot security model and requires fundamental replacement and reconstruction
PANews reported on July 17 that according to PolkaWorld, at yesterday's Web3 Summit event, Gavin Wood, founder of Polkadot, pointed out that Polkadot NPoS (Nominated Proof of Stake) is dragging down its security model and needs to be fundamentally replaced and reconstructed. Polkadot pays up to $500 million in security costs each year, and this expense mainly comes from Staking rewards. In the current structure, this fee is 85% of Polkadot's annual inflation, and this 85% fee is cashed out by validators and nominators, flowing out of the ecosystem, and not converted into network use or ecological activity. Gavin believes that this is an "unsustainable" fiscal structure that will drag down the network's fiscal discipline and weaken the accuracy and efficiency of ecological incentives. He proposed an alternative path PoP (Proof of Personality), which uses "who you are" as the basis of power and trust on the chain.
Gavin proposed a solution: in the short term, cut security expenses by 80%, such as setting a fixed salary for validators, limiting self-staking and super-high return expectations, introducing a "stable issuance model" for DOT, raising the threshold for validators, and introducing KYC, interviews and other mechanisms; in the medium term, introduce PoP and Individuality, and start an identity-driven security model; in the medium term, supplementary tools include closing invalid resources and introducing native stablecoins.
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