PANews reported on July 17 that according to PolkaWorld, at yesterday's Web3 Summit, Polkadot founder Gavin Wood pointed out that Polkadot's NPoS (Nominated Proof of Stake) is dragging down its security model and needs fundamental replacement and reconstruction. Polkadot pays up to $500 million in security costs annually, mainly from Staking rewards. In the current structure, this cost accounts for 85% of Polkadot's annual inflation, and this 85% is realized by validators and nominators, flowing out of the ecosystem without being converted into network usage or ecosystem activity. Gavin believes this is an "unsustainable" financial structure that will undermine network fiscal discipline and weaken ecosystem incentive precision and efficiency. He proposed an alternative path of PoP (Proof of Personality), using "who you are" as the basis for chain-based power and trust.
Gavin proposed solutions: short-term reduction of 80% security costs, such as setting fixed salaries for validators, limiting self-staking and extremely high return expectations, introducing a "stable issuance model" for DOT, raising validator thresholds, and introducing mechanisms like KYC and interviews; medium-term introduction of PoP and Individuality to launch an identity-driven security model; medium-term supplementary tools include closing invalid resources and introducing native stablecoins.
