Proof of Stake vs. Proof of Work | Bitcointalksearch.org

Crypto4K

copper member

Activity: 247

Merit: 12

decentralize money

Quote from: JaredStein on November 06, 2017, 05:00:50 PM

Proof of Stake is a centralized way to secure your network. Proof of Work is a decentralized way to secure your network, and actually requires real work, real energy, put into it and this is what secures the Bitcoin network and makes it so hard to change. You have to change the cumulative proof of work behind the Bitcoin blockchain in order to make any changes to the consensus rules.

Can't PoS be decentralized as well? What about the method Gridcoin is using? (Proof of Research)

JaredStein

sr. member

Activity: 379

Merit: 251

Proof of Stake is a centralized way to secure your network. Proof of Work is a decentralized way to secure your network, and actually requires real work, real energy, put into it and this is what secures the Bitcoin network and makes it so hard to change. You have to change the cumulative proof of work behind the Bitcoin blockchain in order to make any changes to the consensus rules.

ColdZerk

full member

Activity: 364

Merit: 100

The more ETH you have - the more ETH you will earn.
But firstly u need ~1000 ETH...

POS is good way to stop feed miners.

Eatbatterys

full member

Activity: 406

Merit: 170

Quote from: asayoyaasa on November 06, 2017, 03:23:02 PM

ill go with PoS, cause that mean we can saving more power there no need to buy any of high price hardware and pay for the electricity and a safer network as attacks become more expensive: if a hacker would like to buy 51% of the total number of coins, the market reacts by fast price appreciation. But yeah there something i dont like, rich ppl can have more coin than small player Cry

That's just how the world works. You have to spend money to make money. In this case, people with more money are able to acquire more mining hardware or more coins than you are.

asayoyaasa

copper member

Activity: 648

Merit: 159

ill go with PoS, cause that mean we can saving more power there no need to buy any of high price hardware and pay for the electricity and a safer network as attacks become more expensive: if a hacker would like to buy 51% of the total number of coins, the market reacts by fast price appreciation. But yeah there something i dont like, rich ppl can have more coin than small player Cry

Eatbatterys

full member

Activity: 406

Merit: 170

Quote from: bennybeezy on November 06, 2017, 02:14:02 PM

I've been coming across the term Proof of Stake quite often as of late. ETH is going in that direction. What are the advantages and disadvantages of POS vs. POW?

There are a few different ways of looking at it.

Proof of Work gives people with mining hardware a fairer chance at collecting whatever coin they're mining whereas Proof of Stake provides additional coins for those that already hold them.

Advantages of PoS is that it effectively eliminates electricity usage because you're no longer having to power hardware to mine. Disadvantages is that you have to buy into whatever coin you're trying to accumulate if you're planning on accumulating more via PoS.

There's no perfect in between. PoW is going to have mining farms driving difficulty up and profitability down for the Average Joe and PoS is going to result in wealth accumulation more for the already wealthy than it will for the Average Joe, but at least they won't have to purchase hardware and pay higher electricity bills to be able to do so.

bennybeezy

newbie

Activity: 57

Merit: 0

I've been coming across the term Proof of Stake quite often as of late. ETH is going in that direction. What are the advantages and disadvantages of POS vs. POW?

Topic: Proof of Stake vs. Proof of Work (Read 271 times)