A Bitcoiner’s Guide To Proof-Of-Stake

A Bitcoiner’s Guide To Proof-Of-Stake

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.This is an opinion editorial by Scott Sullivan.Normally Bitcoiners don’t care too much about what goes on in Shitcoin-land, but now that Ethereum has merged to proof-of-stake (PoS), there’s been quite the buzz on Bitcoin Twitter. Of course, the Bitcoin network itself will remain unaffected, but I think this “upgrade” is still worth paying some attention to. Now that Ethereum has cleansed itself of the “dirty” and “wasteful”....

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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....

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