Bitcoin's Code Is Immutable And Can Withstand Attempts To Make It Proof Of Stake
Attacks to make Bitcoin change its issuance mechanism to proof of stake are futile. History has shown that this type of attack will not work.The below is a direct excerpt of Marty's Bent Issue #1186: "They're trying to 'change the code' again." Sign up for the newsletter here. Greenpeace and Ripple co-founder attacking Bitcoin's PoW algorithm We meet here in this dark corner of the Internet a little less than two months away from the 5th year anniversary of the New York Agreement, which led to a Summer of heated battle between major corporations in the Bitcoin space who believed they....
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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....
The Blackcoin Developers have announced that their coin is adopting what they are calling proof-of-stake protocol v2 in response to concerns from critics that say Proof-of-stake coins aren't secure. Blackcoin is one of the most exciting altcoins in the cryptospace right now. It has a 30 second confirmation time, large market cap, their BlackHalo project is keeping it in the forefront of the Bitcoin 2.0 space and they seem to be the only team to get altmining pools done in a responsible way that doesn't harm other coins. “With PoS Protocol V2.0, we wanted to plug any searing vulnerabilities....
This week, Bitcoinist has published two excellent articles on the topic of DPOS, or delegated Proof of Stake. Both written by Alberto Mata, DPOS is a new feature that Bitshares is talking about, which they believe solves problems of both proof or work and proof of stake systems alike, adding another layer of security by countering the negative effects of trust centralization. One fact that is pointed out however is that it a DPOS system is still vulnerable to 51% attacks, but the cost would be much higher compared to another systems. To read more visit the following articles: Dan Larimer....
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.
Proof-of-work is the innovation that drives energy innovation. Proof-of-stake ensures the richest among us will continue their control over others.