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The only way PoW crypto is superceded is if someone finally implements PoS. There is a lot of hope in ethereum "moving to" proof of stake, but I think a move wi

The only way PoW crypto is superceded is if someone finally implements PoS. There is a lot of hope in ethereum "moving to" proof of stake, but I think a move will never happen. Miners will not allow it. It'll be a fork. Then, if it has to be forked why not start from scratch with something better? I imagine/hope many people are working on better crypto protocols at the moment.

wrnr 6y ago
Etherium has a grim trigger in to form of a future parabolic increase in difficulty that is perpetually delayed by a signed patch to prevent miners from being too conservative.
xiphias2 6y ago
It will happen, because the developers will get the same fees what the miners get right now without spending energy (which is a risky and low margin industry). Good luck getting real institutional money getting into PoS based systems though, PoW took 10 years to get accepted as a secure store of value for the tresuries.
cfcosta 6y ago
Both Cardano and BNB use proof of stake, with Cardano being much more decentralized (but smart contracts are coming next few months), and BSC/BNB being the most popular currently. You can also use BTC as a wrapped asset (backed by a smart contract) on both the BSC/Eth networks. PoW is going away quickly, but Bitcoin is not going to move, the "difficulty" is by design at least in the current concept of it as a storage of value. Edit: By the way, it is possible (or will be in the future) to run staking pools on Cardano on Raspberry Pis, and get the same benefits as bigger hardware. Currently it needs 4~8gb of ram afaik, but pis are getting faster every release, next one might be good.
intotheabyss 6y ago
Even if it forked, that would be working as intended. Anyone can fork Ethereum, but there's currently billions locked in staking on the Beacon Chain, so there's at least a large segment of the community that will support PoS, so there will be a PoS chain, even if there's also a forked PoW chain. I just doubt the PoW chain will remain useful, as the PoS chain will have obvious benefits and would likely remain the dominant Ethereum.

wrnr 6y ago

Etherium has a grim trigger in to form of a future parabolic increase in difficulty that is perpetually delayed by a signed patch to prevent miners from being too conservative.

xiphias2 6y ago

It will happen, because the developers will get the same fees what the miners get right now without spending energy (which is a risky and low margin industry). Good luck getting real institutional money getting into PoS based systems though, PoW took 10 years to get accepted as a secure store of value for the tresuries.

cfcosta 6y ago

Both Cardano and BNB use proof of stake, with Cardano being much more decentralized (but smart contracts are coming next few months), and BSC/BNB being the most popular currently. You can also use BTC as a wrapped asset (backed by a smart contract) on both the BSC/Eth networks. PoW is going away quickly, but Bitcoin is not going to move, the "difficulty" is by design at least in the current concept of it as a storage of value. Edit: By the way, it is possible (or will be in the future) to run staking pools on Cardano on Raspberry Pis, and get the same benefits as bigger hardware. Currently it needs 4~8gb of ram afaik, but pis are getting faster every release, next one might be good.

intotheabyss 6y ago

Even if it forked, that would be working as intended. Anyone can fork Ethereum, but there's currently billions locked in staking on the Beacon Chain, so there's at least a large segment of the community that will support PoS, so there will be a PoS chain, even if there's also a forked PoW chain. I just doubt the PoW chain will remain useful, as the PoS chain will have obvious benefits and would likely remain the dominant Ethereum.