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May 04, 2017, 05:24:30 PM |
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precise on mining modes:
Proof of Work > leads to competitive concentration of mining and squeezes towards a monopoly of patented hardware, at a minimum it is the expenditure of energy at lowest cost, might makes right. End game is mining returns diminish, TRAGEDY of the COMMONS. As the labor that maintains the network secure moves onto better yielding fields. SLASH and BURN_out. Retired or Legacy hardware can move in and salvage. Entropy in play.
Proof of Stake > the squeeze is toward dominate shares, or stakes, that prevent entry of lesser hands. Abuse of capital, dumping, can lead to reduced yields, the pattern plays out the same as POW, lesser stakes can pick up the pieces. Entropy in play.
Proof of Service > provides nodes, complete chain copies, mixing services(ANON), and even governance staffing services, perhaps more given adaptive constitution of protocols. Entropy in play.
DASH is the leading representative of a combined modes of distribution of supply, yet lacks POS, PIVX includes all 3 modalities.
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