Proof of Stake not only replicates the same dynamics that Bitcoin was designed to eliminate (more wealth -> more power in system) but also can only be made secure against a maximum of ⅓ byzantine actors, compared to Proof of Work's superior ½. As for using it for Layer 1 systems, Andrew Poelstra nailed it in his conclusion [0]: "We showed that by depending only on resources within the system, proof of stake cannot be…
was this submitted to any crypto journals for peer review (CCS, Eurocrypt) or did the author arrive at this conclusion in isolation?
The linked paper was submitted to CRYPTO 2017 (https://link.springer.com/chapter/10.1007/978-3-319-63688-7_...)
The next paper Ouroboros Praos was submitted to EUROCRYPT 2018 (https://link.springer.com/chapter/10.1007/978-3-319-78375-8_...)
The next paper Ouroboros Genesis was submitted to CCS 2018 (https://dl.acm.org/doi/abs/10.1145/3243734.3243848)
I don't know about the papers after this that seem to be to other places or just eprints.