The Environmental Myth Of Proof Of Stake
Enriching people for low-energy services won’t save the environment, only proof of work builds a sustainable future.This is an opinion editorial by Level39, a researcher focused on Bitcoin, technology, history, ethics and energy.The notion that Ethereum’s recent “Merge,” from proof of work to proof of stake, reduces energy consumption by 99.95% is a myth. Nevermind that this calculation excludes expensive enterprise server farms, corporations and the increased work involved in completing proof of stake transactions on a global scale. Follow the money — the cost to make a transaction has....
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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....
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.
A lot has been made of Bitcoin's environmental impact. With the mining network now more powerful than all of the world's top supercomputers combined, it's understandable that some people would become concerned about power consumption and waste. Shouldn't there be a better way to do this, and is it even worth it, at all? First, to answer the former question. One alternative to using processing power to mint coins-known as proof-of-work-is the proof-of-stake system. In proof-of-stake, new coins are minted (and the network secured) by those holding coins in the same place for a period 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.