4 ms·

A domain where its default home page is a PDF? That's a new one... ps. And I'm not buying the "environmentally friendly" argument until proof-of-stake is actua

A domain where its default home page is a PDF? That's a new one... ps. And I'm not buying the "environmentally friendly" argument until proof-of-stake is actually live and completely displaces PoW in mainline production.

fumblebee 5y ago
If the issue is whether PoS will work is troubling you: other PoS chains like Algorand have been successfully running for well over a year. Seems in no doubt.
- needle0 5y ago
  Maybe so, but that still doesn't change that PoS on Ethereum itself has been "coming soon" forever. Until the switch actually happens in full, it's still a power-guzzling PoW chain.
  - casi 5y ago
    Youll be happy to hear there is a hackthon going on right now testing out the move onto PoS. https://rayonism.io/ https://rayonism.io/
- runeks 5y ago
  The potential issue isn't spontaneous breakage, but rather a determined attacker exploiting the incentive structure in an unexpected manner. And the financial motivation to do this is much greater for ETH since it's around 100 times more liquid than ALGO.
  - inter_netuser 5y ago
    It will likely not fail due to a direct attack on PoS. Ethereum has shown they are willing to rollback the chain in case of attacks. What's more concerning is that Proof of Wealth (which is what Stake really is), is just going to lead to those with biggest balances dictating rules to everyone else. Exactly what happened in EOS, Steem, etc... It will become a plutocracy with cute emojis.
    - birracerveza 5y ago
      >It will become a plutocracy with cute emojis. Three comments repeating the same point are not enough, you should spam this argument some more, maybe then it will make sense.
      - inter_netuser 5y ago
        Do you have any actual counterpoints w.r.t previous numerous failures of POS?
    - Kbelicius 5y ago
      > What's more concerning is that Proof of Wealth (which is what Stake really is), is just going to lead to those with biggest balances dictating rules to everyone else. So if PoW and PoS both suffer the same problem of minority dictating rules to everyone else do you know of any consensus algorithm used in crypto that avoids that problem?
    - mratsim 5y ago
      EOS and Steemit are delegated Proof-of-Stake, people elect "grand stakers" that will do everything, and this lead to briberies.
- sickygnar 5y ago
  Algorand has a handful of validator nodes which are chosen by the creators. You can't participate in validating even if you want to. It's completely centralized, which as far as I'm concerned defeats the purpose of cryptocurrency. Why do you think, despite the hype, it hasn't taken off in price like others, despite "appearing" technically superior? Massive sell pressure from these behemoth validator node holders, who receive the lion's share of the stake rewards for... running a vps
ddrdrck_ 5y ago
Cosmos.network,since 2019. I am amazed so few people are aware of Cosmos SDK and ecosystem

fumblebee 5y ago

If the issue is whether PoS will work is troubling you: other PoS chains like Algorand have been successfully running for well over a year. Seems in no doubt.

needle0 5y ago
Maybe so, but that still doesn't change that PoS on Ethereum itself has been "coming soon" forever. Until the switch actually happens in full, it's still a power-guzzling PoW chain.
- casi 5y ago
  Youll be happy to hear there is a hackthon going on right now testing out the move onto PoS. https://rayonism.io/ https://rayonism.io/
runeks 5y ago
The potential issue isn't spontaneous breakage, but rather a determined attacker exploiting the incentive structure in an unexpected manner. And the financial motivation to do this is much greater for ETH since it's around 100 times more liquid than ALGO.
- inter_netuser 5y ago
  It will likely not fail due to a direct attack on PoS. Ethereum has shown they are willing to rollback the chain in case of attacks. What's more concerning is that Proof of Wealth (which is what Stake really is), is just going to lead to those with biggest balances dictating rules to everyone else. Exactly what happened in EOS, Steem, etc... It will become a plutocracy with cute emojis.
  - birracerveza 5y ago
    >It will become a plutocracy with cute emojis. Three comments repeating the same point are not enough, you should spam this argument some more, maybe then it will make sense.
    - inter_netuser 5y ago
      Do you have any actual counterpoints w.r.t previous numerous failures of POS?
  - Kbelicius 5y ago
    > What's more concerning is that Proof of Wealth (which is what Stake really is), is just going to lead to those with biggest balances dictating rules to everyone else. So if PoW and PoS both suffer the same problem of minority dictating rules to everyone else do you know of any consensus algorithm used in crypto that avoids that problem?
  - mratsim 5y ago
    EOS and Steemit are delegated Proof-of-Stake, people elect "grand stakers" that will do everything, and this lead to briberies.
sickygnar 5y ago
Algorand has a handful of validator nodes which are chosen by the creators. You can't participate in validating even if you want to. It's completely centralized, which as far as I'm concerned defeats the purpose of cryptocurrency. Why do you think, despite the hype, it hasn't taken off in price like others, despite "appearing" technically superior? Massive sell pressure from these behemoth validator node holders, who receive the lion's share of the stake rewards for... running a vps

ddrdrck_ 5y ago

Cosmos.network,since 2019. I am amazed so few people are aware of Cosmos SDK and ecosystem