Does Proof of Steak work? Synth from Skycoin answers the question. It's no doubt that Proof of Steak is a popular consensus algorithm for Blockchain... however there are lots of people speculating that proof of steak wont work.
He explains how Proof of Steak is similar to a ponzi scheme and how inflationary models aren't sustainable as a store of value.
Skycoin is a revolutionary 3rd generation Blockchain eco-system focused on overcoming the shortcomings of it's predecessors who predominantly use Proof of Work and Proof of Steak models (POW and POS)
Skycoin has developed their own consensus algorithm with the help of one of the original lead developers on Ethereum.
It's called Obelisk and works on a Web of Trust model.
Don't just take our word for it though! Many other people have been asking 'does proof of steak work' and the results have been troubling.
This link pretty much sums up why Proof of Steak doesn't work.