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Title: Will PoW be replaced by PoS et al.? Post by: minerman121 on April 24, 2017, 05:46:27 PM My question is on the future of PoW. Whatever your Poll answer, please provide an explanation.
PoW and PoS have their inherent problems. But as a Miner who wishes to move forward, I am questioning the future of PoW, due to the influx of PoS coins that are hitting the market, and the big Elephant in the room; ETH switch to Casper. Nothing lasts forever. But in terms of medium to long term viability of PoW, what's your opinion. Side note; ETH miners will not switch their rigs off. They will shift to another PoW coin. My spidey sense leads me to conclude that all you XMR miners out there, are going to see one heck of a difficulty influx, very soon. Title: Re: Will PoW be replaced by PoS et al.? Post by: bathrobehero on April 24, 2017, 05:54:59 PM Of course not.
Staking is very different from mining. In staking you need, well a stake instead of a tangible investment like mining hardware. PoW can also be an initial distribution method (launch a coin and people will mine it). With staking, you can't do that, you have to give people coins in some way (PoW/ICO/airdrop/etc) before they can make more coins. But even post initial distribution, in staking the rich gets richer which is not great for distribution. And considering how fast we're flying towards cheap renewable energy, it's safe to say that PoW is here to stay. |