Topic: Which Proof of Stake System is the Most Viable (Read 25785 times)

I even determine not entertain the billet between TF and DPoS. They feel close to me. Just newspeak

There are tons of proof of stake variants not at the list:

lowest amount of coins you had at the last X days is the stake
amount of coins you had at X days ago is the stake

amount of transactions your wallet made is the stake
amount of transactions your wallet made is the stake, transaction fees goes back to be mined after Z days
amount of transactions your wallet made at the last X days is the stake
amount of transactions your wallet made at the last X days is the stake, transaction fees goes back to be mined after Z days
amount of transactions your wallet made between X days ago and X - Y days ago is the stake
amount of transactions your wallet made between X days ago and X - Y days ago is the stake, transaction fees goes back to be mined after Z days

at any time send coins to a place that cant be traded or get back, all coins there are stake
at any time send coins to a place that cant be traded or get back, coins spend X days there before being destroyed, all coins there are the stake
at any time send coins to a place that cant be traded or get back, coins there X days ago are the stake.
at any time send coins to a place that cant be traded or get back, having coins there keep increasing variable and this variable is use to stake
at any time send coins to a place that cant be traded or get back, coins spend X days there before being destroyed, having coins there keep increasing variable and this variable is use to stake
at any time send coins to a place that cant be traded or get back,  having coins there X days ago keep increasing variable and this variable is use to stake

at any time send coins to a place that can't be traded, after X days you get back the coins to your wallet, all coins at this place are the stake
at any time send coins to a place that can't be traded, after X days you get back the coins to your wallet, all coins you had there Y days ago are the stake
at any time send coins to a place that can't be traded, after X days you get back the coins to your wallet, having coins at this place keep increasing variable and this variable is use to stake
at any time send coins to a place that can't be traded, after X days you get back the coins to your wallet, having coins at this place Y days ago keep increasing variable and this variable is use to stake

Damelon of the Nxt Foundation did it again, creating good exposure for Nxt in the media! 
An article on blockchain governance was published in the renowned French "Revue Banque et Stratégie".
http://www.revue-banque.fr/management-fonctions-supports/article/gouvernance-des-blockchains-perspective-nxt

Mainnet is live, but it's not yet listed on an exchange, only OTC trades so far.

Thanks for the discussion, let's not derail this thread further.

If IOTA is using something different , they should call it something else to avoid confusion.
Po?,  I know call it PoT , Proof of Tangle  

Has IOTA even been released or is it still vaporware?
Coinmarketcap does not have any listing for them.


 

You are thinking of PoW as the PoW used for regular blockchains. Your points are totally valid for blockchains and I share your view there, but the tangle works differently.

1. There is no mining in IOTA, there are no fees, there is no block reward. No need for expensive hardware as there is zero profit to be made from it. You can even use IOTA if you own nothing at all (sending data over IOTA is free).
2. The point is that running IOTA does not use much energy at all. The ONLY PoW that has to be done is a small amount of work when doing a transaction.

Working , but ignoring the fact China completely controls it, just like the yuan.

If IOTA uses PoW, then it still has all of the weaknesses,
1.  PoW mining will be out of the reach of all but the ultra rich.
2. The coin itself is completely useless without the work provided by PoW device, which draws excessive energy and requires constant updating to stay competitive.
ASICS Arms Race

Proof of Stake the value is directly in the coin , not the PC it resides on,
As far as TPS, that is really a non issue that can easily be solved with off-chain transactions.

Example: Gift Card System (Allows Unlimited Transactions Off-Chain)
A Gas company can issue me a card , I send them ZEIT to fund the card,  (This Transactions is on-chain and recorded in the blockchain)
they record the balance and credit my gas card with that amount.  

When I buy the gas with their card , it deducts the amount of ZEIT from my balance,
and issues me a receipt from their record keeping system.
(This Transaction is Off-Chain and not recorded in the blockchain , only on their internal record keeping system.)
(Meaning there is now No Limits to Off-Chain Transactions)    


 

Well I'd not go that far, it's seems to be working, but with flaws and serious limitations, and a huuuge waste of energy.
Anyway, I'm still fond of PoS like you, but in general blockchains are limited (scalability, growth of the chain, fees).

The way IOTA uses PoW is totally different, because there are no blocks and you only need to do very little PoW when doing a tx, so no energy gets "wasted", and the network is already proven to handle 30+ tps without any fees (100 tps are possible right now).

Bitcoin itself has proven PoW a failure.
As the entire BTC community completely ignores the fact that China has had the capability to 51% attack it for close to a year.
Some communities are even starting to raise the electric rates for PoW Mining operations.
https://www.americascardroom.eu/blog/2016/07/utility-rates-raised-for-bitcoin-miners-in-washington-state/
PoW is just not a sustainable solution, and already controlled by China. (Might as well just buy the Yuan.)

Proof of Stake is the only Viable Solution to the failure know as Proof of Work.
With PoS, the Value is in the Coin itself, with PoW the Value is in the constantly decreasing value of the ASICS not the coin.
Requiring no more electricity to operate than a PC per household.

Time will make this abundantly clear to the short sighted.  

 

FYI:
IMO,
ZEIT PoS Specs will outshine them all.  

It's the only way for the concept to work. Remember, there are no blocks that are generated every x minutes. No need to prove your stake in order to forge a block.
But you have to have a barrier for sending transactions as an anti DDOS measure. Even more so because there are no tx fees.

Anyway, the amount of PoW you have to do is quite small, and you only have to do it when you want to attach something to the tangle. A modern GPU can do the necessary PoW for a transaction in a tenth of a second.
I claim that it's not as wasteful as the PoW in bitcoin, because in IOTA there are no fees, so there's no arms race in doing the most PoW possible. And all PoW is directly neccessary for doing transactions, whereas on traditional blockchain the miner has do to PoW even if there's no transaction in the block.

Oh interesting, thanks for clarifying.

Anyone knows why they chose for POW?

IOTA is actually PoW. In order to attach a transaction to the tangle, you have to do some work. Each attached transaction confirms two previous.

There's IOTA now, made by dev of NXT 'Come From Beyond', not sure it's POS, it's without blockchain I think. Transactions are validated, not based on how many coins you have, but based on past transactions? I don't really get it yet but it seems solid as multiple people came up with this same idea.

any updates on other POS coins? is nxt still king of the crop?

The "penalty" is if a miner doesn't mint a block when he can then he is prevented from minting future blocks for a period of 2 days ON THAT CHAIN.   

This poll was set up in April. Create a new one to get updated results

We can just choose between those 3 ?

What about all those other coins around?

Absolutely useless poll until you add all POS-coins.

Trying to derail the thread, troll harder!

is Bitshares and Ethereum going to be one system?

it'll be an epic battle of the giants to behold: NXT vs Bitshares/Ethereum. Stay tuned in

Any new thoughts on this question? My money's still on BitShares.