Topic: Ethereum's Switch to PoS. (Read 155 times)
The Proof of Stake method of validation is a definite way to save on electricity costs in the future with Master Nodes being formed to enable validation. The balance required is to have enough Master Nodes to be both secure and provide reliability. These nodes will still generate reward from the Gas fees but I expect Ethereum price to come from it's utility usage rather than its mining costs.
Yes, PoS does provide some enhancements over PoW, but it puts the light on a different problem altogether. Banks and large institutions have unfair amounts of capital compared to normal participants. A stakeholder with high stakes can have more easy execution whereas stakeholders with low stake will not. The poor stay poor. Also will it remain truly decentralized?
So I read an article a while back about Ethereum switching over to a PoS algorithm... But on Ethereum classic’s twitter feed I saw a post saying that it’s going to be a hybrid of PoW and PoS. When is this change expected? Also, the Ethereum developers have said they’ll be releasing the “difficulty time bomb” on the PoW system. What does this mean for miners?
I suggest you read the official ethereum improvement proposal through this link https://github.com/ethereum/EIPs/blob/master/EIPS/eip-1011.md and it provides the full explanation regarding the future pos system of ethereum itself. In that proposal says that ethereum will be fully moving to the PoS system and the requirement for you to be the stakers has already mentioned and it has created by ethereum PoS developer.
Thanks for the info
I think for now it can be said so but for more I think it is impossible because I see this token etherium has enormous potential because that he can hold the price so as not to jatu to the price sebulumnya. besides that right now I see the token etherium still drops steadily.
It will be probably good change which will positively affect the attractiveness and price of ethereum. So you should not be worry about this change, because it is good news, especially now when price falling
I am also curious about how ETH's network will be maintained when it switches POW mechanism and POS mechanism.
It's something I've never known.
It's something I've never known.
It seems to me that this is quite normal, because ETH wants to increase its efficiency and accelerate transactions, this must be done, because ETH must move forward, otherwise it will be bypassed.
So I read an article a while back about Ethereum switching over to a PoS algorithm... But on Ethereum classic’s twitter feed I saw a post saying that it’s going to be a hybrid of PoW and PoS. When is this change expected? Also, the Ethereum developers have said they’ll be releasing the “difficulty time bomb” on the PoW system. What does this mean for miners?
I suggest you read the official ethereum improvement proposal through this link https://github.com/ethereum/EIPs/blob/master/EIPS/eip-1011.md and it provides the full explanation regarding the future pos system of ethereum itself. In that proposal says that ethereum will be fully moving to the PoS system and the requirement for you to be the stakers has already mentioned and it has created by ethereum PoS developer.
I believe this is for the better. Better ethereum price means more possible transactions and more chances for ethereum startups to experiment and make improvements. Which is why Ethereum is made.
yeah you are right there are indeed some current rumours that ethereum is actually swtiching from proof of work to an proof of stake system. This is much better for the environment imo
This is an idea that interests me, but firstly, how much minimum Ether is required to stake? What will be the interest rate be?
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I assume you’ll will get a return on investment for handling block transactions. I believe it will raise prices since, there will be an increase in demand. The ETH staked will be locked up and decrease the circulating supply. Currently there is no supply cap.
I agree, however, no one knows as the Cryptocurrency market is unpredictable. That being said, I think that Ethereum’s switch from Proof-of-Work to Proof-of-Stake will drive its price upwards.
I've not seen them give an exact date. I don't really like proof of stake but the current system just isn't practical with the electricity usage.
The pos system is no doubt more resource-conserving than the pow system. It does not waste your computer hardware, but we all know a cost-profit method. If Ethereum uses pos, the mining costs of Ethereum will be reduced, which may affect the price of Ethereum.
Another question to pose, once Ethereum moves to a PoS system, how will Ether be generated? What will this do for Ethereum prices?
I assume you’ll will get a return on investment for handling block transactions. I believe it will raise prices since, there will be an increase in demand. The ETH staked will be locked up and decrease the circulating supply. Currently there is no supply cap.
The pos system is no doubt more resource-conserving than the pow system. It does not waste your computer hardware, but we all know a cost-profit method. If Ethereum uses pos, the mining costs of Ethereum will be reduced, which may affect the price of Ethereum.
Another question to pose, once Ethereum moves to a PoS system, how will Ether be generated? What will this do for Ethereum prices?
So I read an article a while back about Ethereum switching over to a PoS algorithm... But on Ethereum classic’s twitter feed I saw a post saying that it’s going to be a hybrid of PoW and PoS. When is this change expected? Also, the Ethereum developers have said they’ll be releasing the “difficulty time bomb” on the PoW system. What does this mean for miners?
Using a hybrid proof-of-stake & proof-of-work algorithm, it is said to eventually end the profitability for Ethereum miners. The difficulty time bomb increases the mining difficulty. The chain will eventually become impossible to mine. Implementation of this means a shift off the original PoW system to the new PoS algorithm. There is not an exact estimate of when it’ll be released
So I read an article a while back about Ethereum switching over to a PoS algorithm... But on Ethereum classic’s twitter feed I saw a post saying that it’s going to be a hybrid of PoW and PoS. When is this change expected? Also, the Ethereum developers have said they’ll be releasing the “difficulty time bomb” on the PoW system. What does this mean for miners?
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