What is the Best consensus in your opinion? POW, DPOW or POS?

CreamIce

jr. member

Activity: 126

Merit: 1

Quote from: yla1974 on October 17, 2018, 02:15:37 AM

Quote from: ThachSanhTp on October 17, 2018, 01:58:31 AM

As the title, we are talking about the popular consensus - as I know now that includes POW, DPOW and POS. So what is the Best consensus in your opinion?
I my idea:
- POW: Consume much electric energy of our world => unnecessary wastage.
- DPOS: Does not consume much energy but quite centralized (There are some validators)
- POS: Does not consume much energy + More decentralized.
Have I understood right?

For me, the most reliable protocol is Fiat cash. Decentralization is the same myth as democracy. Although of course there are huge advantages for the blockchain, one cannot argue here. Of all the protocols, the most reliable POW. The rest is just not good enough.

But the actual strength of blockchain would come with decentralization, don't you think? What is the point if the blockchain is still controlled? (just trying to understand)

TamaraKul

member

Activity: 322

Merit: 10

POW is the most reliable one, so it is the obvious option for the most of modern projects on the market. It should not change fast.

Levyathan

jr. member

Activity: 434

Merit: 1

There are no best consesus in my opinion since most of them are the same one. The most profitable one is the developer who made the coin POW,DPOW, or POS.

Hiylchis

member

Activity: 154

Merit: 10

POS is very good right now, bu I am sure that it may become even better in the nearest future and we all need to help it. I believe that chances are high.

CryptoRama

full member

Activity: 453

Merit: 100

I'm using only POS, at the moment. Also POW is not so bad either, but with POW you need miners witch it's a big minus, because miners are expensive and since POS needs only funds.

bayu7adi

hero member

Activity: 1470

Merit: 558

dont be greedy

Proof Of Work is fairer than all, the thing that influences us in getting money is how intentional and diligent we are in doing work, not saving money in a place and hoping that money comes by itself
POW does require a lot of energy, but it is the art of making money, we must be good at managing and also controlling all our abilities

danfred

member

Activity: 304

Merit: 10

Quote from: ThachSanhTp on October 17, 2018, 01:58:31 AM

As the title, we are talking about the popular consensus - as I know now that includes POW, DPOW and POS. So what is the Best consensus in your opinion?
I my idea:
- POW: Consume much electric energy of our world => unnecessary wastage.
- DPOS: Does not consume much energy but quite centralized (There are some validators)
- POS: Does not consume much energy + More decentralized.

Have I understood right?

Today there are a lot of new consesuses, so I consider that one of them will be able to become as popular as those three that you have mentioned.

slaman29

legendary

Activity: 2674

Merit: 1226

Livecasino, 20% cashback, no fuss payouts.

There is no "best" consensus. Only the consensus that works for your network because it is suitable for it within all the context of network security versus userbase versus costs versus scalability. Ethereum used POW for a long time and found it unsuitable and now want to move to POS. But POW worked for Bitcoin for a very long time and they said costs were just going up but hashrate does drop as it is now when Bitcoin price itself is low. And the network is super secure the most secure among all coins.

hanomnom

member

Activity: 294

Merit: 11

Quote from: ThachSanhTp on October 17, 2018, 01:58:31 AM

As the title, we are talking about the popular consensus - as I know now that includes POW, DPOW and POS. So what is the Best consensus in your opinion?
I my idea:
- POW: Consume much electric energy of our world => unnecessary wastage.
- DPOS: Does not consume much energy but quite centralized (There are some validators)
- POS: Does not consume much energy + More decentralized.

Have I understood right?

Most of people do not care about energy. In addition, you may build a farm in a country, where energy is cheap, so the issue will be solved.

cryptohunter

legendary

Activity: 2100

Merit: 1167

MY RED TRUST LEFT BY SCUMBAGS - READ MY SIG

POW - distribution - - the only trustless way

POS3 or posp - long term security

forget the rest

Never let a project require a period of trust else it is fucked forever

ThachSanhTp

jr. member

Activity: 364

Merit: 4

Quote from: beachbummer on October 24, 2018, 09:15:42 AM

Quote from: ThachSanhTp on October 23, 2018, 09:49:16 PM

Quote from: beachbummer on October 20, 2018, 04:31:39 AM

However, the probability of successfully staking under POS also depends on the amount of coins you have. However, some coins have a dPOS algo that allows you to delegate your stake to another party, or you can also pool your stake with other coins.

Lisk and EOS are examples of dPOS coins, while NEO, Gridcoin, Blackcoin and Peercoin are some examples of POS coins.

Oh, I do not understand clearly here. I think the reward of staking should be equally divided for the stakers.
For example:
total coin: 2000, annual inflation = 1%
=> Each year has 2000*1% = 20 new coin created.

If there are only 2 stakers:
A with 100 coin in his wallet
B with 900 coin in his wallet

=> Then the reward will be divided for the stakers as below:
A = 20 * (100/(100+900)) = 2 coin
B = 20 * (900/(100+900)) = 18 coin.

Right?

Some PoS algos may differ, but in general, PoS is similar to a "lottery" concept.

To simplify an explanation:
In your example, the total staking pool is 1000 coins (100+900).

For every block, A has a 10% chance of staking a block while B has a 90% chance due to their staking balance. On average, A will get the block reward for 1 block out of every 10 blocks while B will get the block reward for 9 blocks.

This is different from what you mentioned about the stake rewards being divided equally because in the practical sense, if there was a third staker with 0.0000001 coins, it does not mean that he will get a proportionately small block reward for every block. It means that he may have to wait a very long time before he successfully stakes a block.

Probably a way for a very small staker to get rewards will be to join a staking pool, but even then there will probably be a minimum withdrawal amount so it might still take a long time to see any real rewards!

Understood. Thanks

alian17

full member

Activity: 448

Merit: 100

I like POS mode. Because it will not pollute the environment like POW mining. There is almost no cost. I think this is the future development mode.

beachbummer

full member

Activity: 251

Merit: 100

Quote from: ThachSanhTp on October 23, 2018, 09:49:16 PM

Quote from: beachbummer on October 20, 2018, 04:31:39 AM

However, the probability of successfully staking under POS also depends on the amount of coins you have. However, some coins have a dPOS algo that allows you to delegate your stake to another party, or you can also pool your stake with other coins.

Lisk and EOS are examples of dPOS coins, while NEO, Gridcoin, Blackcoin and Peercoin are some examples of POS coins.

Oh, I do not understand clearly here. I think the reward of staking should be equally divided for the stakers.
For example:
total coin: 2000, annual inflation = 1%
=> Each year has 2000*1% = 20 new coin created.

If there are only 2 stakers:
A with 100 coin in his wallet
B with 900 coin in his wallet

=> Then the reward will be divided for the stakers as below:
A = 20 * (100/(100+900)) = 2 coin
B = 20 * (900/(100+900)) = 18 coin.

Right?

Some PoS algos may differ, but in general, PoS is similar to a "lottery" concept.

To simplify an explanation:
In your example, the total staking pool is 1000 coins (100+900).

For every block, A has a 10% chance of staking a block while B has a 90% chance due to their staking balance. On average, A will get the block reward for 1 block out of every 10 blocks while B will get the block reward for 9 blocks.

This is different from what you mentioned about the stake rewards being divided equally because in the practical sense, if there was a third staker with 0.0000001 coins, it does not mean that he will get a proportionately small block reward for every block. It means that he may have to wait a very long time before he successfully stakes a block.

Probably a way for a very small staker to get rewards will be to join a staking pool, but even then there will probably be a minimum withdrawal amount so it might still take a long time to see any real rewards!

ThachSanhTp

jr. member

Activity: 364

Merit: 4

Quote from: beachbummer on October 20, 2018, 04:31:39 AM

However, the probability of successfully staking under POS also depends on the amount of coins you have. However, some coins have a dPOS algo that allows you to delegate your stake to another party, or you can also pool your stake with other coins.

Lisk and EOS are examples of dPOS coins, while NEO, Gridcoin, Blackcoin and Peercoin are some examples of POS coins.

Oh, I do not understand clearly here. I think the reward of staking should be equally divided for the stakers.
For example:
total coin: 2000, annual inflation = 1%
=> Each year has 2000*1% = 20 new coin created.

If there are only 2 stakers:
A with 100 coin in his wallet
B with 900 coin in his wallet

=> Then the reward will be divided for the stakers as below:
A = 20 * (100/(100+900)) = 2 coin
B = 20 * (900/(100+900)) = 18 coin.

Right?

beachbummer

full member

Activity: 251

Merit: 100

Quote from: ThachSanhTp on October 19, 2018, 11:30:19 PM

Quote from: X-ray on October 17, 2018, 02:15:01 AM

POS is the best consensus mechanism, we know that in this time global warming has become the real problem an with the POS system and it will be more suitable because we will not waste our energy to secure the decentralization of blockchain. It's conservative. Have you seen how much energy that has already consumed to secure the blockchain? Roll Eyes

I totally agree with you.
Some people said POS is for wealthy people. But I disagree with them that, because:
To mine (POW) => we need Money to buy Mining machines (ASIC, GPU...)
To stake (POS) => we need Money to buy Coins, send it to a wallet to start staking.

However, the probability of successfully staking under POS also depends on the amount of coins you have. However, some coins have a dPOS algo that allows you to delegate your stake to another party, or you can also pool your stake with other coins.

Lisk and EOS are examples of dPOS coins, while NEO, Gridcoin, Blackcoin and Peercoin are some examples of POS coins.

ThachSanhTp

jr. member

Activity: 364

Merit: 4

Quote from: X-ray on October 17, 2018, 02:15:01 AM

POS is the best consensus mechanism, we know that in this time global warming has become the real problem an with the POS system and it will be more suitable because we will not waste our energy to secure the decentralization of blockchain. It's conservative. Have you seen how much energy that has already consumed to secure the blockchain? Roll Eyes

I totally agree with you.
Some people said POS is for wealthy people. But I disagree with them that, because:
To mine (POW) => we need Money to buy Mining machines (ASIC, GPU...)
To stake (POS) => we need Money to buy Coins, send it to a wallet to start staking.

beachbummer

full member

Activity: 251

Merit: 100

We should also consider PoUW (Proof of Useful Work), which utilises the computing resources to perform calculations that are actually useful and not just for the sake of solving a difficult hashing puzzle.

Some examples of cryptocurrencies using PoUW will be Gridcoin, Primecoin and Byteball, just to name 3 off the top of my head (but there is some debate on whether Primecoin calculations are truly "useful").

juliyett

jr. member

Activity: 166

Merit: 1

“The Premier Digital Asset Management Ecosystem”

POS is the best here because I use it for so long and there are not any problems with it if you are ready to support it with all necessary resources and others.

Rahees

member

Activity: 238

Merit: 10

All of them are not so clear and all of them have their own minuses and disadvantages. I use each one because they are completing the full picture for the work.

Gavyn Pace

newbie

Activity: 24

Merit: 1

I think the most reliable protocol is Fiat cash. We know that in this time global warming has become the real problem an with the POS system it will be more suitable. Of all the protocols,the most reliable is POS. The rest is just not good enough.

Topic: What is the Best consensus in your opinion? POW, DPOW or POS? (Read 308 times)