Topic: Ethereum proof of stake (Read 292 times)
Are we saying that the More we Stake ethereum, the more it influence the market movement.
I believed that POS means Proof-of-stake. currently ethereum is working towards a hard-fork this january and one of the major reason is to enable or run POS. currently, we noticed that ethereum is back on second spot in the market.
what can this proof of stake offer to ethereum and what does it stands for ?
Hardfork has already announced by core ethereum developers and it will start on 17 january. But remember this is an early hardfork to make ethereum will migrate to the POS system. The block decrease will have done asap and until it will give the miners a little reward and then ethereum will be less on its inflation. what can this proof of stake offer to ethereum and what does it stands for ?
yes you are right, this update seems to prepare the POS system. POS will make ethereum stronger than yesterday.
The question is: What will be dumped? 
The ones that will get less support and my guess the one that will remain and chosen by the people is the one that has PoS algo. I believed that POS means Proof-of-stake. currently ethereum is working towards a hard-fork this january and one of the major reason is to enable or run POS. currently, we noticed that ethereum is back on second spot in the market.
what can this proof of stake offer to ethereum and what does it stands for ?
The "Constantinople" hard-fork doesn't include PoS yet.what can this proof of stake offer to ethereum and what does it stands for ?
Progress Tracker: https://github.com/ethereum/pm/wiki/Constantinople-Progress-Tracker
Changes:
https://eips.ethereum.org/EIPS/eip-145
https://eips.ethereum.org/EIPS/eip-1014
https://eips.ethereum.org/EIPS/eip-1052
https://eips.ethereum.org/EIPS/eip-1283
https://eips.ethereum.org/EIPS/eip-1234
glad to see, a few days when I see discussing about HF I always attach the source as such you buddy. Great!!
Hardfork will improve the ecosystem by little be better, for me the most important thing ethereum was need to expand the scalability so like TPS is very limit and millions of users every second within transactions and an increase many new developers that using dApp Ethereum.
in my opinion the worst thing about this hard fork of ethereum is the fact that it has a very high chance of splitting it into another new altcoin. so in the end after this fork we can end up with 3 ethereum coins.
- the original ethereum with immutability currently called ETC
- the current ethereum fork with PoW which has the miners working on it which may not give up the revenue specially with the ASICs
- the new PoS fork of it
if this happens, since it acts as a free airdrop we may see a big dump right after the fork.
- the original ethereum with immutability currently called ETC
- the current ethereum fork with PoW which has the miners working on it which may not give up the revenue specially with the ASICs
- the new PoS fork of it
if this happens, since it acts as a free airdrop we may see a big dump right after the fork.
+1
I'm sure that miners won't let go their ASIC's for ETH, and they'll add up the new ETH to their production too. The question is: What will be dumped?
I believed that POS means Proof-of-stake. currently ethereum is working towards a hard-fork this january and one of the major reason is to enable or run POS. currently, we noticed that ethereum is back on second spot in the market.
what can this proof of stake offer to ethereum and what does it stands for ?
Hardfork has already announced by core ethereum developers and it will start on 17 january. But remember this is an early hardfork to make ethereum will migrate to the POS system. The block decrease will have done asap and until it will give the miners a little reward and then ethereum will be less on its inflation. what can this proof of stake offer to ethereum and what does it stands for ?
in my opinion the worst thing about this hard fork of ethereum is the fact that it has a very high chance of splitting it into another new altcoin. so in the end after this fork we can end up with 3 ethereum coins.
- the original ethereum with immutability currently called ETC
- the current ethereum fork with PoW which has the miners working on it which may not give up the revenue specially with the ASICs
- the new PoS fork of it
if this happens, since it acts as a free airdrop we may see a big dump right after the fork.
- the original ethereum with immutability currently called ETC
- the current ethereum fork with PoW which has the miners working on it which may not give up the revenue specially with the ASICs
- the new PoS fork of it
if this happens, since it acts as a free airdrop we may see a big dump right after the fork.
Don't they have any other mechanism?
Or they just let it happen that those who just have few ETH to stake will of course receive few % and those with huge amount gets more. The beauty I think of POS is that less users are going to sell their ETH which could result to higher value.
I think the PoS will bring more and more centralization to the ecosystem of miners / validators. I'm very worried of this new consensus protocol.
I am a little bit clueless about POS, only if it can make ethereum better and return to second place in the market then it is good to do it to completion.
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PoS or Proof of stake will get you some reward if you stake. For example, currently, I am staking DeepOnion and getting 5% reward in this year which will be halved by the end of this July 2019. By staking ETH, you will also get some ETH in rewards. I am not expert, well, it makes a coin more strong.
Tons of posts says that PoW backed ETH price, what will be with PoS implementing?
most likely that the growth of the Ethereum is now in anticipation of the fork. then there is a chance that the ETH will begin to fall again and will come back at the 3rd place
I believed that POS means Proof-of-stake. currently ethereum is working towards a hard-fork this january and one of the major reason is to enable or run POS. currently, we noticed that ethereum is back on second spot in the market.
what can this proof of stake offer to ethereum and what does it stands for ?
what can this proof of stake offer to ethereum and what does it stands for ?
It is not certain. It is preparation for POS. Ethereum developers will announce soon what will happen. We hope it will be done in this month.
as you already figure out it stands for Proof of Stake which is another alternative algorithm that cryptocurrencies use. there is a lot of discussion about it which you can find online and there are many difference of opinions about it. what i believe is that it is an inferior algorithm compared to PoW (Proof of Work that it currently uses which is the same as bitcoin) and it has many disadvantages in comparison too. for example it is basically giving the power to anyone who has the most amount of money. so technically a whale (or worse the foundation that controls more than 70 million ether which they premined) can have the full control of the coin and its future and anything else including transactions and balances.
not to mention that the way it distributes rewards (paying more money to anyone who holds more) is a bad design by nature and will harm not just the fairness of distribution but also the price.
in short term however, we may see a lot of hype and consequently a lot of pumps but that is a different discussion which would belong to speculation board.
not to mention that the way it distributes rewards (paying more money to anyone who holds more) is a bad design by nature and will harm not just the fairness of distribution but also the price.
in short term however, we may see a lot of hype and consequently a lot of pumps but that is a different discussion which would belong to speculation board.
The information you've provided let my mind refreshed about my current understanding about proof of stake, well my insight now about it is that, proof of stake I guess will going to benefit the miners better than the proof of work.
PoS is an alternative way to verify and validate transactions or blocks.
Unlike PoW which are all calculated based on work, PoS will assess Validators more based on the number of shares held by the validator and the length of share ownership (without looking at the aspect of work) and therefore ethereum will be easier to build a trusted and distributed network with loyal Validators because Validators will be encouraged to hold their shares as long as possible to get part or all transaction costs and therefore, ethereum will have a more solid community than before which will greatly affect the sustainability of ethereum and also the price
Unlike PoW which are all calculated based on work, PoS will assess Validators more based on the number of shares held by the validator and the length of share ownership (without looking at the aspect of work) and therefore ethereum will be easier to build a trusted and distributed network with loyal Validators because Validators will be encouraged to hold their shares as long as possible to get part or all transaction costs and therefore, ethereum will have a more solid community than before which will greatly affect the sustainability of ethereum and also the price
This could be the downfall of ethereum as POS will simply make the whales richer. What matters the most is if ethereum is going to sort out it's scaling issue and actually be able to cope with high numbers of transactions
as you already figure out it stands for Proof of Stake which is another alternative algorithm that cryptocurrencies use. there is a lot of discussion about it which you can find online and there are many difference of opinions about it. what i believe is that it is an inferior algorithm compared to PoW (Proof of Work that it currently uses which is the same as bitcoin) and it has many disadvantages in comparison too. for example it is basically giving the power to anyone who has the most amount of money. so technically a whale (or worse the foundation that controls more than 70 million ether which they premined) can have the full control of the coin and its future and anything else including transactions and balances.
not to mention that the way it distributes rewards (paying more money to anyone who holds more) is a bad design by nature and will harm not just the fairness of distribution but also the price.
in short term however, we may see a lot of hype and consequently a lot of pumps but that is a different discussion which would belong to speculation board.
not to mention that the way it distributes rewards (paying more money to anyone who holds more) is a bad design by nature and will harm not just the fairness of distribution but also the price.
in short term however, we may see a lot of hype and consequently a lot of pumps but that is a different discussion which would belong to speculation board.
Agree with you the rich ppl will be rich but I think dev eth and vitalik already think about it, also some time ppl need to change for better they life.
I hope eth will be more better after this hardfork
Answer question op
I think we will not spend more resources in a very long time if just for miner.
It is something waiting for a long time.
And i believe it will affect price very positively. And because ethereum is too big, it can trigger a good run for all crypto markets.
And i believe it will affect price very positively. And because ethereum is too big, it can trigger a good run for all crypto markets.
I believed that POS means Proof-of-stake. currently ethereum is working towards a hard-fork this january and one of the major reason is to enable or run POS. currently, we noticed that ethereum is back on second spot in the market.
what can this proof of stake offer to ethereum and what does it stands for ?
what can this proof of stake offer to ethereum and what does it stands for ?
Nice things started happening in Ethereum. Because of the fork, the price gradually started to rise. I think the expectation of Ethereum on the market is still too high.
And he's back at number two.
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