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You realize supply growth was significantly larger with PoW, right? It's like saying "Ethereum uses energy too!" completely ignoring the fact that it uses 99.9%
by mudrockbestgirl 4y ago
You realize supply growth was significantly larger with PoW, right? It's like saying "Ethereum uses energy too!" completely ignoring the fact that it uses 99.9% less energy.
- sph 4y agoWhat has supply growth anything to do with how the network is secured (PoW specifically)? There is no correlation nor relation whatsoever between the two.
- zeroclip 4y agoSecurity is strongly correlated with issuance i.e. supply growth. If miners must spend X amount of value to compute hashes and secure the network, and the issuance or protocol reward is not sufficient to justify this spending, the security of the network is at risk.
- mudrockbestgirl 4y agoMiners/stakers get paid for securing the network and that's exactly what determines how much ETH is issued.
- DennisP 4y agoEthereum lowered the issuance rate dramatically when it changed to PoS. The reason it was able to do this without lowering the cost of a 51% attack is that it no longer has to rely on rewards alone. It can also apply penalties. Certain provable attacks result in automatic destruction of stake. In PoW terms, it's as if a 51% attack caused the attacker's mining rig to burn down.