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This blog post fails to mention anything about alternative consensus mechanisms to Proof of Work (PoW). Proof of Work requires the energy expenditure of a smal
by robcohen 7y ago
This blog post fails to mention anything about alternative consensus mechanisms to Proof of Work (PoW).
Proof of Work requires the energy expenditure of a small country.
Proof of Stake requires far far less power, negligible amounts of power.
https://spectrum.ieee.org/computing/networks/ethereum-plans-to-cut-its-absurd-energy-consumption-by-99-percent https://spectrum.ieee.org/computing/networks/ethereum-plans-...
- AndrewUnmuted 7y agoAnd yet, proof of stake has led to no cryptocurrency that can claim anywhere near the activity of Bitcoin.
- montenague 7y agoBecause they are still building it dude. These are significantly difficult game theory problems to wrestle with. There are one or two I follow that are getting very close.
- Hitton 7y agoAh, yes. Argumentation by number of users. Reminds me of Facebook conclusively proving that federated social networks are dead end by its own merits, definitely not by the fact that when you start using social network you are more likely use one that your friends already use.
- AndrewUnmuted 7y agoI was simply pointing out a fact, not looking to argue. You won't hear any support for centralized media - be they social networks or cryptocurrencies - out of me. However, I'll also point out that when it comes to things which claim to be effective means of exchange, buy-in from users is pretty dang important.