Topic: Which do you think is safer? POW or POS? (Read 163 times)
In PoS-based coins, there are no miners but rather stakeholders that help validate and process transactions in the network. The larger amount of coins you have staking in your wallet, the larger the reward is for you because you are processing a huge numbers of transactions by just leaving your wallet idle. However in PoW-based coins, this is done by miners with their dedicated machines on hashing out tx in the network. On paper, both of them are secure and both also has its faults. The former can easily be gamed by a single whale controlling a huge portion of the coins while on the latter, a 51% attack from the miners can decide the fate of a coin.
Both POW and POS can't distinguish who is safe. Personally feel that both ways have their own suitable people.
Both methods require investment. POW need to be invested in mining equipment. POS needs to purchase coins in advance.
Since I do not have mining equipment, I currently participate in the POS a little bit more, but I can only get very few coins.
Both methods require investment. POW need to be invested in mining equipment. POS needs to purchase coins in advance.
Since I do not have mining equipment, I currently participate in the POS a little bit more, but I can only get very few coins.
For now, pow is safer because she has been running this way for many years without problems. However, pos is still very little to run and there is no way to completely believe it.
Is it prone to abuse since there will be no mining that will happen?
Perhaps it's not about safety, but about saving resource: POS is more economical. Therefore, I'm more inclined towards PoS mechanism, or even Delegated Proof of Stake (DPoS) used by such cryptocurrency as BitShares.
You are right but in the end it really doesn't matter how economical if your investments aren't safe. I guess this is really the trend now and more people are adopting into it cos most of new innovations are already in PoS or DPoS.
Does Casper protocol play a vital role on the security when it comes to POS?
probably a smart move. they can minimize the shock of transitioning away from POW, and also quarantine problems if the casper rollout sees unexpected bugs.
Casper is still so young and hasn't been fully implemented and tested. We can't really tell if there are still exploitable bugs or areas that can be abused by anyone.
Does Casper protocol play a vital role on the security when it comes to POS?
for those depending on it for consensus/transaction validation, yes.
but at this point, it's not clear whether casper extends to ethereum as a whole, or rather a hypothetical casper sidechain or casper consensus shard. the core devs may be rolling it out as a new system overlaying (rather than replacing) the core POW-based protocol.
probably a smart move. they can minimize the shock of transitioning away from POW, and also quarantine problems if the casper rollout sees unexpected bugs.
I think pos is safer, because it does not depend on hardware, but it holds quantity, just like the current ownership structure, it is safe.
Perhaps it's not about safety, but about saving resource: POS is more economical. Therefore, I'm more inclined towards PoS mechanism, or even Delegated Proof of Stake (DPoS) used by such cryptocurrency as BitShares.
For now, pow is safer because she has been running this way for many years without problems. However, pos is still very little to run and there is no way to completely believe it.
Does Casper protocol play a vital role on the security when it comes to POS?
Without knowing the technical details too much, Proof of Stake sounds like the currently only option for a viable future growth in crypto?
considering how much electricity Bitcoin consumes as an example.
but I don't know too much about the security and such.
Couldn't a "bad actor" simply just get an equally large amount of power from mining if it's PoW,
compared with just staking a large amount?
considering how much electricity Bitcoin consumes as an example.
but I don't know too much about the security and such.
Couldn't a "bad actor" simply just get an equally large amount of power from mining if it's PoW,
compared with just staking a large amount?
Proof of stake seems more safer and rewarding than proof of work. With proof of work, you need to mined with your computing power while with proof of stake ,you just get reward by the staking your already hold coins.
Can Casper protocol really make a difference when it comes to security?
read more in here: https://blockgeeks.com/guides/proof-of-work-vs-proof-of-stake/
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