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What happened with Ethereum's proof of stake? Have there been successful alternatives that eliminate the need for mining?
by fromMars 3y ago
What happened with Ethereum's proof of stake? Have there been successful alternatives that eliminate the need for mining?
- cwbriscoe 3y agoEthereum is using proof of stake now.
- almenon 3y agoEthereum switched to proof of stake a while ago. So yes. Hardcore crypto fans don't like it because theoretically it could be subject to the 51% attack. Personally, Ethereum is big enough where A) I don't think that attack is likely and B) the efficiency gains are worth the risk Disclaimer: I have Ethereum so i benefit from other people buying it. I do honestly think it's better for the environment.
- FabHK 3y agoPoS instead of PoW is about 1000x more efficient, meaning that instead of being about 1,000,000,000x more wasteful than the work it effectively does it's only about 1,000,000x more wasteful.
- patriksvensson 3y agoIt's running proof of stake, successfully for over 512 days! Uses validators instead of mining, the power footprint of the ENTIRE network was reduced by 99.995%. Crypto isn't power inefficient, BITCOIN MINING is power inefficient. Can't wait for the typewriter (Bitcoin) to be replaced by the computer (Ethereum).