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There's an even better alternative than Proof-of-Stake, which is Open-Representative-Voting (ORV) consensus, used by Nano. No fees, no inflation, no mining. ht
by alexmingoia 6y ago
There's an even better alternative than Proof-of-Stake, which is Open-Representative-Voting (ORV) consensus, used by Nano. No fees, no inflation, no mining.
https://docs.nano.org/protocol-design/introduction/ https://docs.nano.org/protocol-design/introduction/
- brabel 6y agoThis is, according to this link you posted yourself, a work-in-progress. There's no evidence this system is resilient to attacks or that it will work at scale. Only time will tell that. While this is definitely better than the outrageous waste of energy promoted by BitCoin and other proof-of-work crypto coins, the fact that BitCoin has been so popular for so long proves that it doesn't matter if it actually is "good" as a crypto coin or not: all that matters is whether people believe its price will keep going up - even on HN you see people who couldn't care less if its energy consumption is on par with Argentina's as long as they can make a few bucks betting on it.
- alexmingoia 6y agoThe documentation is a work-in-progress. Nano network has been running succcessfully since inception 5 years ago, its core mechanics unchanged. It's no more a work-in-progress than Bitcoin. Each attack vector and its risks are addressed in detail: https://docs.nano.org/protocol-design/attack-vectors/ https://docs.nano.org/protocol-design/attack-vectors/