Bitcoin's Future: Proof-of-stake vs Proof-of-work
It's no secret that merchants who immediately sell their Bitcoin for fiat currency create downward pressure on the Bitcoin price, but the merchants aren't the only people to blame. The proof-of-work (POW) system used by Bitcoin and other cryptocurrencies fails to create an incentive for miners to hold onto their coins. That means that as much as 3,600 BTC may be sold per day to pay for electricity and rent, alone. The mined bitcoins alone has a value of more than 180 000 USD. Depending on the type of pool used, some miners sell their coins instantly after being awarded their coins. Others....
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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....
Proof-of-work is the innovation that drives energy innovation. Proof-of-stake ensures the richest among us will continue their control over others.
A technical and in-depth analysis of the trade-offs that Ethereum’s consensus mechanism makes in its switch to proof-of-stake and how proof-of-work differs.
It is evident that proof-of-work is a pure representation of free-market forces as opposed to the control of proof-of-stake.
Bitcoin Magazine Pro hosted a Twitter Spaces that brought the biggest names in Bitcoin and crypto to converse about the Ethereum move to proof-of-stake.