NeuCoin Whitepaper Reignites Proof-of-Work vs. Proof-of-Stake Debate
A little more than a week after release of NeuCoin's technical whitepaper, an intense debate been sparked between the proponents of the two main crypto technologies, proof-of-work (PoW) and proof-of-stake (PoS). Online forums including Bitcointalk, Peercointalk and Reddit, as well as NeuCoin’s own forum, have been playing host to the exchanges, which have drawn in not only lay community members but several of its household names. On Reddit, Bitcoin core developer Jeff Garzik began by fiercely defending Bitcoin from PoS supporters’ allegations that PoW is becoming centralized. “Transaction....
Related News
NeuCoin, an extensively modified proof-of-stake cryptocurrency based on Peercoin, released its 39-page whitepaper Wednesday, following a year of development. NeuCoin, its developers say, has the potential to “realize Satoshi’s original vision” by addressing the issues of increasing transaction fees, centralization of mining and divergence of interests between miners and regular coin holders in Bitcoin. Through the utilization of proof-of-stake as opposed to Bitcoin’s proof-of-work, separate parties become united and transaction costs are reduced to a negligible amount. “We believe....
What is delegated proof of stake? “(DPOS) Delegated proof of stake is a new consensus algorithms that allows shareholders (or the users of the system) to have control over who is certifying the ledger. it allows us to have 10 second block times, process 10 transactions per second or more, and allows the network to scale; to have dedicated nodes that are highly efficient and specialized yet remain in control of the shareholders. We can actually have 10 second confirmation on your blocks that is more secure than bitcoin.” How is DPOS different than proof of stake or proof of work? “Proof of....
The proof is in the pudding when it comes to Bitcoin’s proof-of-work mechanism versus a proof-of-stake consensus mechanism debate.
Proof-of-work is the innovation that drives energy innovation. Proof-of-stake ensures the richest among us will continue their control over others.
Not that anyone is asking, but Coin Center inserted itself into the debate at hand. Is the Post-Merge Ethereum a security now? Moving from Proof-Of-Work to Proof-Of-Stake without pausing the operation was quite a feat, but it came with a cost. Many things are completely different at this stage, and those new characteristics might put […]