PoW or PoS? What's best? | Bitcointalksearch.org

robro

newbie

Activity: 106

Merit: 0

Quote from: VanDeinsberg12 on December 26, 2018, 11:23:59 AM

Quote from: beachbummer on December 26, 2018, 11:18:53 AM

Quote from: shad_ow90 on December 26, 2018, 10:36:54 AM

In my opinion, POW is better than POW because it will reduce power consumption and contribute to protect environment, and it avoids the situation of centralization of big mining coin companies

I believe you meant PoS is better than PoW?

It's right, but POS less decentralized compared to the POS system. The global warming must force us move to the conservative system that called POS.
But it can be manipulated consider how much the power depends on how much your stake holders.

Did you check the Secure proof of stake?

VanDeinsberg12

hero member

Activity: 1540

Merit: 507

Quote from: beachbummer on December 26, 2018, 11:18:53 AM

Quote from: shad_ow90 on December 26, 2018, 10:36:54 AM

In my opinion, POW is better than POW because it will reduce power consumption and contribute to protect environment, and it avoids the situation of centralization of big mining coin companies

I believe you meant PoS is better than PoW?

It's right, but POS less decentralized compared to the POS system. The global warming must force us move to the conservative system that called POS.
But it can be manipulated consider how much the power depends on how much your stake holders.

beachbummer

full member

Activity: 251

Merit: 100

Quote from: shad_ow90 on December 26, 2018, 10:36:54 AM

In my opinion, POW is better than POW because it will reduce power consumption and contribute to protect environment, and it avoids the situation of centralization of big mining coin companies

I believe you meant PoS is better than PoW?

shad_ow90

member

Activity: 224

Merit: 10

dApps Development Automation Platform

In my opinion, POW is better than POW because it will reduce power consumption and contribute to protect environment, and it avoids the situation of centralization of big mining coin companies

hicies

newbie

Activity: 30

Merit: 0

Seems like Proof of work is the best to make use of. I don’t really understand this proof of stake you’re talking about, maybe you should just make this in a way it’s easy to understand or just explain further. But in my opinion, I still believe that PoW is the best cause it has proven to be secure.

robro

newbie

Activity: 106

Merit: 0

Quote from: tsaroz on December 18, 2018, 12:15:29 PM

I would say both of traditional POW and POS systems have failed.
Though some of the most successful coins like Bitcoin, Ethereum and Monero are purely POW (upto this date), POW are a burden to already limited energy sources in the world. POS on the other hand is a complete failure though some coins have succeeded implementing a different modification of it.

What's your thoughts on Secure Proof of Stake?

tsaroz

legendary

Activity: 2982

Merit: 1069

★Bitvest.io★ Play Plinko or Invest!

I would say both of traditional POW and POS systems have failed.
Though some of the most successful coins like Bitcoin, Ethereum and Monero are purely POW (upto this date), POW are a burden to already limited energy sources in the world. POS on the other hand is a complete failure though some coins have succeeded implementing a different modification of it.

joeperry

sr. member

Activity: 2142

Merit: 465

Telegram: @jperryC

In my opinion is this, I know both of these ways are used in order to support the blockchain or to create a coin but I think PoS is much better rather than the PoW since PoW needs a lot of investment and when the coins you're mining are dropping its price you're paying more in your equipment and electricity rather on what you're mining and it consumes a lot of electricity which can be used to do other good things isn't?

While the PoS uses stakes in order to earn through masternode if i'm not mistaken this kind of method is much better rather than the PoW. All of these is just according to my experience and understanding about the PoW and PoS.

Adriano2010

hero member

Activity: 1414

Merit: 516

This depends on coin price and also how much will cost to get the coin via PoS and how much is the price of coin and if total price is higher than cost to produce is ok, but for some coins is better to have PoS, less cost to produce and if price is ok, a good profit.

CuriousGeorge

sr. member

Activity: 1498

Merit: 251

KUWA.ai

Quote from: robro on December 18, 2018, 07:05:19 AM

Quote from: MainIbem on December 18, 2018, 04:49:11 AM

There is no absolute system. PoW has its advantages and disadvantages, just as PoS has. The unfortunate thing is that both cannot be combined in the same project, at least for now so that we can get the advantages synchronized.

Ethereum 2.0 tries to combine the two - there is an interesting article on this that tackles these issues. Let me know if you want a link to it

Casper POS is not removing PoW system but it makes or gives the possibility to the stake holders to get the benefit from the blockchain. That's why the core developer of ethereum has called that as a hybrid system.

CryptoRama

full member

Activity: 453

Merit: 100

Quote from: styca on December 18, 2018, 03:36:39 AM

PoW is best short-term because it has been shown to work. However it is energy-intensive and not really sustainable indefinitely, so PoS - either pure PoS or else some hybrid or modified system - is the way to go in the long-term.

I think PoW is ok, but the problem is machines are so expensive and you don't get anything from them and also power consumption is very high with bitcoin mining machines than others... Can't they develop better bitcoin machines? Or is bitcoin mined so much now, you can't get anywhere if you don't invest big? Because I think mining bitcoin now is a lot of work...

https://www.asicminervalue.com/

There are currencyes that uses both PoW and POS, but I think currency should use only one. By my opinion both are great, you don't get anything without work, much better than XRP.

robro

newbie

Activity: 106

Merit: 0

Quote from: slaman29 on December 18, 2018, 07:34:16 AM

To me, people always start about how bad PoW is by stating that it is totally an expensive way to secure the network, that it is power hungry and makes the environment bad. Fair points, if POW was nothing but mining but in the case of the biggest POW coin of all, Bitcoin, it provides so much more than that, namely first and foremost, security of the entire network.

POS I think can never be as secure because there is so little attraction for the latter owners, everybody thinks they can earn by staking. So did I! I bought so many POS coins and thought I was being smart by earning from nothing but even during the bull run, their price just kept getting lower and lower and interest from staking just never caught up.

I think serious miners will only do POW. And serious coins won't trust POS. That's just my feeling.

Did you check the Secure Proof of Stake principle? - Give us a shout about your thoughts on that

slaman29

legendary

Activity: 2674

Merit: 1226

Livecasino, 20% cashback, no fuss payouts.

To me, people always start about how bad PoW is by stating that it is totally an expensive way to secure the network, that it is power hungry and makes the environment bad. Fair points, if POW was nothing but mining but in the case of the biggest POW coin of all, Bitcoin, it provides so much more than that, namely first and foremost, security of the entire network.

POS I think can never be as secure because there is so little attraction for the latter owners, everybody thinks they can earn by staking. So did I! I bought so many POS coins and thought I was being smart by earning from nothing but even during the bull run, their price just kept getting lower and lower and interest from staking just never caught up.

I think serious miners will only do POW. And serious coins won't trust POS. That's just my feeling.

robro

newbie

Activity: 106

Merit: 0

Quote from: 10c on December 18, 2018, 07:18:23 AM

I think that the POW is an outdated model. POS will help technology move much faster. I think that Vitalik chose the transition to this mechanism for a good reason

But is it viable tho?

10c

full member

Activity: 658

Merit: 100

BuyAnyLight - Blockchain LED Marketplace

I think that the POW is an outdated model. POS will help technology move much faster. I think that Vitalik chose the transition to this mechanism for a good reason

sulis sudibyo

member

Activity: 882

Merit: 11

Volare.network

IMO, POS is a very fragile consensus unlike a very strong POW. we can see coins that have a POS system are very easily destroyed if the market starts to fall. because people prefer to dump their coins into the market rather than keep hold.

robro

newbie

Activity: 106

Merit: 0

Quote from: MainIbem on December 18, 2018, 04:49:11 AM

There is no absolute system. PoW has its advantages and disadvantages, just as PoS has. The unfortunate thing is that both cannot be combined in the same project, at least for now so that we can get the advantages synchronized.

Ethereum 2.0 tries to combine the two - there is an interesting article on this that tackles these issues. Let me know if you want a link to it

MainIbem

sr. member

Activity: 1316

Merit: 379

#SWGT PRE-SALE IS LIVE

There is no absolute system. PoW has its advantages and disadvantages, just as PoS has. The unfortunate thing is that both cannot be combined in the same project, at least for now so that we can get the advantages synchronized.

Little_king

copper member

Activity: 224

Merit: 0

I think PoW is still much OK than PoS which really do reward for every node create in the blockchain but pos is base on the number of what you stake and the reward is fixed to the stakes and will stay with Pow as it is a way much advance to improve the technology .

robro

newbie

Activity: 106

Merit: 0

Quote from: cafechino on December 18, 2018, 03:53:15 AM

Of course POS is the best and we can earn easy rewards from Proof of stake... it has high security and 100% transparency...
In POS there is no need of super computer and high speed internet to do staking...

I think even POS has its limitations - thus we've worked on that and created Secure Proof of Stake

Topic: PoW or PoS? What's best? (Read 382 times)