Byzcoin is interesting but like Bitcoin its security model depends on massively decentralized mining.
Mining is a function of turning electricity into coins. Since coin generation rate is fixed through a difficulty adjustment, mining becomes a winner-take-all game where only those miners with the lowest electricity costs can effectively compete. Thus the system collapses quickly into a mining oligarchy.
What does Byzcoin propose to resolve the as-yet unresolved problem of mining centralization, which is fundamental to the success of any of these coins?
Any proof-of-work based system has this problem, especially when the PoW is outsourceable.
However, I believe you are missing the point of Byzcoin,
which is that if there is a set of decentralised miners we can still get the strongly consistent, final guarantees of Byzantine agreement in a scalable way.
ByzCoin has PoW to be Bitcoin compatible, but it can change to PoS or PoA or even permissioned systems (e.g hyperledger).
Mining is a function of turning electricity into coins. Since coin generation rate is fixed through a difficulty adjustment, mining becomes a winner-take-all game where only those miners with the lowest electricity costs can effectively compete. Thus the system collapses quickly into a mining oligarchy.
What does Byzcoin propose to resolve the as-yet unresolved problem of mining centralization, which is fundamental to the success of any of these coins?