Title: [PPC] How does POS work to confirm transaction if POW miner are all gone? Post by: hl5460 on July 07, 2013, 10:35:18 AM Hi Guys,
I noticed that there is a sudden increase of PPC dif from ~400k on 2nd July to 660k as of now. a 60% rise in just a few days. I went through the design paper of PPC and I have to admit that I couldn't understand them all. It's claimed that PPC network will maintain its integrity even POW goes down to zero. Such unique feature render PPC the first long-term energy efficient currency. "Energy Efficiency When the proof-of-work mint rate approaches zero, there is less and less incentive to mint proof-of-work blocks. Under this long term scenario energy consumption in the network may drop to very low levels as disinterested miners stop mining proof-of-work blocks. The Bitcoin network faces such risk unless transaction volume/fee rises to high enough levels to sustain the energy consumption. Under our design even if energy consumption approaches zero the network is still protected by proof-of-stake. We call a crypto-currency long-term energy-efficient if energy consumption on proof-of-work is allowed to approach zero. " --from design paper of PPC As far as I understand, POW worker must use cgminer or something to do the POW work to confirm transactions. POS only works when one launch the PPC client. My question is: How does POS confirm transactions if the network doesn't have a single POW worker? Maybe I took it wrong. So enlighten me! Title: Re: [PPC] How does POS work to confirm transaction if POW miner are all gone? Post by: TheSeven on July 07, 2013, 03:26:50 PM In PPC, PoW and PoS are mostly independent, except for serving the same purpose (to confirm transactions).
If you look at http://theseven.bounceme.net/~theseven/pool/netstats, you see the dots in the two charts. Each dot is a block. You can see that there is some amount of both, with the vast majority being PoS blocks these days. Both kinds confirm transactions. If there wouldn't be any PoW blocks, nothing much would happen except for the upper chart being a flat line without any dots. Title: Re: [PPC] How does POS work to confirm transaction if POW miner are all gone? Post by: hl5460 on July 08, 2013, 12:16:22 AM In PPC, PoW and PoS are mostly independent, except for serving the same purpose (to confirm transactions). If you look at http://theseven.bounceme.net/~theseven/pool/netstats, you see the dots in the two charts. Each dot is a block. You can see that there is some amount of both, with the vast majority being PoS blocks these days. Both kinds confirm transactions. If there wouldn't be any PoW blocks, nothing much would happen except for the upper chart being a flat line without any dots. Thanks, that's the first time I saw POS block. Interesting... |