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Title: Proof of Work and Proof of Stake explained for beginners Post by: ofirbeigel on October 14, 2014, 01:10:50 PM I've just came up with a new video tutorial about POW and POS (http://99bitcoins.com/proof-of-work-proof-of-stake/). It's pretty basic but will get you at least understanding the concepts.
I've also linked to a discussion on BitcoinTalk regarding the future of Bitcoin and Proof of Work. Title: Re: Proof of Work and Proof of Stake explained for beginners Post by: tripppn on October 14, 2014, 05:16:13 PM Great Video for new people. We need more tutorial videos like this to bring new people into crypto. That way the same questions don't get asked 100x. There should be a site dedicated to teaching with multiple videos for all different aspects of crypto.
Title: Re: Proof of Work and Proof of Stake explained for beginners Post by: btchris on October 14, 2014, 05:45:38 PM Nice production values, and easy to understand, but I can't say much positive about the content of the latter half of the video.
For one thing, it's very one-sided, claiming that proof-of-stake is strictly superior to proof-of-work. The link to the forums below isn't very useful, either. I might suggest a more recent thread which includes more enlightened views on proof-of-work and proof-of-state (and proof-of-idle too): https://bitcointalk.org/index.php?topic=776541.0 (https://bitcointalk.org/index.php?topic=776541.0) There's also a strong implication that Bitcoin is on its way towards switching to a proof-of-stake system, which seems extremely unlikely to happen given the problems it has (see that link for details). Title: Re: Proof of Work and Proof of Stake explained for beginners Post by: jbrnt on October 14, 2014, 06:04:39 PM There's also a strong implication that Bitcoin is on its way towards switching to a proof-of-stake system, which seems extremely unlikely to happen given the problems it has (see that link for details). I agree that the video sounded a bit biased towards PoS. It didn't mention a word on the problems of PoS like forking and distribution problems. Bitcoin forking to PoS is very unlikely at the moment. I can imagine all miners staying on the PoW fork and nothing happening on the PoS fork. Title: Re: Proof of Work and Proof of Stake explained for beginners Post by: ofirbeigel on October 14, 2014, 11:12:35 PM Nice production values, and easy to understand, but I can't say much positive about the content of the latter half of the video. For one thing, it's very one-sided, claiming that proof-of-stake is strictly superior to proof-of-work. The link to the forums below isn't very useful, either. I might suggest a more recent thread which includes more enlightened views on proof-of-work and proof-of-state (and proof-of-idle too): https://bitcointalk.org/index.php?topic=776541.0 (https://bitcointalk.org/index.php?topic=776541.0) There's also a strong implication that Bitcoin is on its way towards switching to a proof-of-stake system, which seems extremely unlikely to happen given the problems it has (see that link for details). Thanks for the feedback. I didn't mean to sound biased, I personaly don't think there's any solution to this problem yet. The whole idea was just to explain the concepts. I've taken your discussion link and replaced it on the site - thanks for that info. Title: Re: Proof of Work and Proof of Stake explained for beginners Post by: Monkeynutz on October 15, 2014, 12:51:42 PM Thanks, I need this man
Title: Re: Proof of Work and Proof of Stake explained for beginners Post by: apsvinet on October 15, 2014, 11:03:58 PM Very good video, not the easiest stuff explained in a very understandable manner.
Would've preferred this over all the reading I did for sure, haha. |