Actually Proof of work is very old system based on this systems many systems have been developed based on this crypto market also adapt proof of stake for their benefits because the previous system had various types of problems also people suffered a lot.
Topic: Proof of Work or Proof of Stake? (Read 200 times)
Personally i have not been able to understand how proof of stake exactly works and how it helps in solving and completing a transaction, while proof of work seems more logical, legit and real thing where complex calculations and processes are streamlimed to complete a transaction and in return a reward is generated.
Peoples are love proof of stake because they are not spent long time for any particular hardware peoples can use proof of stake in a very easy way. That’s why its demand increasing day by day.
To be honest, I'd like to listen to discussions and pieces of advice about that. It seems clear what you're talking about, but I haven't managed to understand this issue in detail due to lack of time. However, it's an interesting and important topic! Hopefully, I'll read opinions of cool experts!
Proof of work require a high amount of electricity to be consumed by a hardware in order to keep blockchain working and secure. It also require a giant network hash power to keep network secure , which is not an easy task nowadays , when you can buy a computing power in nicehash service and make 51% attack on any coin with low network hashpower by paying only few thousands usd . Proof-of-stake is a more modern protocol , but it also have many issues. I think a new , more perfective security protocol will be developed soon to allow crypto industry move forward .
Proof of work is old system but now most of the cryptos are trying to use the proof of stake. The old system is now transforming in the new system in the blockchain. Actually in the proof of work, people have to suffer from spamming problem but in this pos system such problem will not occur.
Nowadays people use proof of stake more. It does not consume much energy. But many people prefers proof of work more.
POW and POS are rather old methods of network operation and confirmation of events. There are more cunning and progressive. For example, the tremendous solution is DPOS at the EOS. They make it possible to obtain scalability of the network by orders of magnitude higher than the currently working POW.
Some of the top coin on market cap uses proof of work and I think it's awesome but as it consume more data and electricity there might be need to adopt something more simple in the future. That's why I think proof of stake is here to stay. And something better might still show up in the future
More often what we see with new coin releases are hybrids of Proof of Work and Proof of Stake known as masternode coins where miners are rewarded for proof of work while coin holders are rewarded for meeting a threshold of collateral. It is more structured than POS since we know there is a set quantity required to attain the reward. It is also more appealing to a wider audience since there are people who will mine it to either hold it and/or sell it and there can also be the population who will be content to simply buy the collateral and hold it for passive income.
This is why the application of masternodes is so prevalent and derived of both POW and POS models even though some may argue it's not really POS and that MN is a class of it's own.. the principal is similar.. just with better structure and that is hodl a set quantity and benefit from rewards for that.
This is why the application of masternodes is so prevalent and derived of both POW and POS models even though some may argue it's not really POS and that MN is a class of it's own.. the principal is similar.. just with better structure and that is hodl a set quantity and benefit from rewards for that.
i think the word of proof of work or proff of stake was used for count or check the work from bounty participant on bounty program right? 
Proof of work is a protocol that has the main goal of deterring cyber-attacks such as a distributed denial-of-service attack (DDoS) which has the purpose of exhausting the resources of a computer system by sending multiple fake requests. And Unlike the proof-of-Work,where the algorithm rewards miners who solve mathematical problems with the goal of validating transactions and creating new blocks, with the proof of stake, the creator of a new block is chosen in a deterministic way, depending on its wealth, also defined as stake.
However what proofing method is most suitable and used these days? Deciding the proofing method is application specific?
However what proofing method is most suitable and used these days? Deciding the proofing method is application specific?
Proof of stake is actually people used these days, since only pc or laptop is required no need for a rig or any machines, and also their is a VPS , no need to consume energy you can stake even when you close your pc or laptop as long as your wallet is in VPS.
Proof of work is a protocol that has the main goal of deterring cyber-attacks such as a distributed denial-of-service attack (DDoS) which has the purpose of exhausting the resources of a computer system by sending multiple fake requests. And Unlike the proof-of-Work,where the algorithm rewards miners who solve mathematical problems with the goal of validating transactions and creating new blocks, with the proof of stake, the creator of a new block is chosen in a deterministic way, depending on its wealth, also defined as stake.
However what proofing method is most suitable and used these days? Deciding the proofing method is application specific?
However what proofing method is most suitable and used these days? Deciding the proofing method is application specific?
Proof of stake is actually people used these days, since only pc or laptop is required no need for a rig or any machines, and also their is a VPS , no need to consume energy you can stake even when you close your pc or laptop as long as your wallet is in VPS.
Proof of work is a protocol that has the main goal of deterring cyber-attacks such as a distributed denial-of-service attack (DDoS) which has the purpose of exhausting the resources of a computer system by sending multiple fake requests.
I don't know how accurate the above statement is. Wikipedia has a similar sentence describing PoW, which I find weird. IMO, proof of work doesn't have as its main goal to deter DDoS attacks. Proof of Work secures the network against double spending and makes the public ledger immutable, but I'm not sure PoW has anything to do with DDoS attacks. DDoS can prevent a node from functioning by deliberately flooding it with data, like fake transactions. An attacker with enough resources could probably temporarily disable a full node with DDoS, but the network has countermeasures to protect itself, and PoW is certainly not one of these measures. Hopefully some of the more experienced members of this forum can clarify this. Thanks.
I prefer proof of stakes because you don't have to spend with the high spec or specialized hardware and the difficulty could easily go up compare to proof of stakes it's much easier any machine or even laptop can stake a new coin you only have to invest on the coin.
4 of TOP-6 on coinmarketcap coins are POW so it's better now then POS. But POW has scaling and low speed problems so i see the best way is hybrid POW+POS like Etherium is working on Casper release.
Proof of work currently consumes some fantastic amounts of electricity. Both the Bitcoin network and the Ethereum network. It goes beyond any reasonable standards. Therefore, the future of the industry is obvious for the POS. Ecology is a very important aspect for the planet in the context of the future.
Proof of work is a protocol that has the main goal of deterring cyber-attacks such as a distributed denial-of-service attack (DDoS) which has the purpose of exhausting the resources of a computer system by sending multiple fake requests. And Unlike the proof-of-Work,where the algorithm rewards miners who solve mathematical problems with the goal of validating transactions and creating new blocks, with the proof of stake, the creator of a new block is chosen in a deterministic way, depending on its wealth, also defined as stake.
However what proofing method is most suitable and used these days? Deciding the proofing method is application specific?
However what proofing method is most suitable and used these days? Deciding the proofing method is application specific?
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