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The different hashing algorithms have different power requirements. Scrypt (LTC) and KECCAK-256 (ETH) are less power intensive than SHA-256 (BTC). Those are ju
by brownbat 9y ago
The different hashing algorithms have different power requirements.
Scrypt (LTC) and KECCAK-256 (ETH) are less power intensive than SHA-256 (BTC). Those are just proof-of-work.
Proof-of-stake or proof-of-importance would have barely any power footprint, but there are still debates about whether they could replace PoW and offer similar security guarantees.
- MBCook 9y agoProof of steak is basically the kind of system I was thinking of. Proof of work seems like a very good solution as long as people are relatively equal, but you could use proof of steak to ensure that. Of course that means that you need some way to set up the initial steaks and decide who gets them. And that means it isn't as democratic like bitcoin is, which I know is a big plus for many people.