4 ms·
Even if no existing coins switch to PoS (spoiler: many will), the PoS coins will suck up fee-paying users from the PoW coins, reducing the returns on mining, wh
by Acrobatic_Road 5y ago
Even if no existing coins switch to PoS (spoiler: many will), the PoS coins will suck up fee-paying users from the PoW coins, reducing the returns on mining, which will result in lower network hashpower. It may also bring a second-order effect of reducing the prices of PoW coins, which will reduce dollar-denominated block rewards on those networks, and that will bring hashpower down even farther.
- toolz 5y agoETH continues to grow its hashrate every day. Even in the face of growing competition, hashrate grows. It's an interesting theory, but there's no evidence of you being right. We already have many extremely high market-cap PoS coins, many with more features than ETH will have even after it's PoS transition, yet PoW hash continues to skyrocket.
- Acrobatic_Road 5y agoBecause ETH is still the king, and those coins haven't proven themselves yet. Next year ETH will be PoS and there will be no other major PoW coins outside of Bitcoin in the top 10. At which point, other PoS coins will lose their competitive advantage. So from a user and developer perspective, there's no reason to jump ship.