Proof of stake(POS) vs than proof of work(POW) ?

[waynechong1995]

How is proof of stake(POS) better than proof of work (POW)? I saw alot new alts are introducing their coin mostly in the form of POS.

Is it only in terms of energy consumption?

[Ayers]

yeah onyl energy saving, but not actually better POS, have worse security hole regarding exchange holding many coin, and doing big pos stake, also it's far easy to do a 51% attack with pos than POW, because you just need to buy, and if the coins are cheap it's easy to have people holding 51% and do an attack

[imhoneer]

I apologize in advance for Google translation.

There is a new algorithm of consensus POA (Proof Of Auction). https://bitcointalk.org/index.php?topic=1934810.0

Here are its benefits:

- light clients from users , who can install them on simple phones. And that there were no problems with the loss of keys, then we need to apply the chip NXT,
Namely the user can optionally give a file with the keys or restore them by entering a phrase or a piece of text. Thus, it is enough just to remember where the text and your keys are never lost (for example, the text for creating the key can be a passage from the Bible).

- no forks . The algorithm gives an unambiguous answer, Who build their block with transactions in the blockroom.

- automatic scaleability . The number of transactions in the block is equal to the number of Blockmakers in the network. When transactions become larger and with this the number of Blockmakers increases, the commission can maintain the former low value for the user,
But due to the increase in transactions in the block, Blockmaker's profit of this unit and the network as a whole grows.

- compensation of an unplayed transaction for a certain time . Even if the user transaction has not passed, then he receives compensation for this.
This allows you to reduce the negative experience of using the network and show your responsible attitude to this person.

- transaction attack spam . Strangely enough, but from spam attacks, transactions are good for everyone except this spammer. Blockmakers receive part of the commission from each block,
Moreover, thanks to the auction, this amount is maximum, users whose transactions do not pass receive compensation, and our spammer pays maximum for all this pleasure.

- passive and active income of Blockmakers . If you just become a Blockmaker and maintain the network,
Then you will receive a passive income from the distribution of the amount from the auction to 60% of Blockmakers. Distribution is random, one is not paid twice at a time. Active income is obtained when collecting user transactions and winning an auction form the unit.

[h311m4n]

How is proof of stake(POS) better than proof of work (POW)? I saw alot new alts are introducing their coin mostly in the form of POS.

Is it only in terms of energy consumption?

From what I understand, it's the main reason eth are moving to pos (officially).

Unofficially...it's taking decentralization away from the ETH network. Today anyone can participate in the network and validate transactions, wherever you are. With POS, you're given transactions to validate only if you have coins that you stake. So the theory is, that when a big corp is staking 10'000 ETHs, they have no interest in not fulfilling their contract, because if they do, they lose their stake and will no longer get work their way.

However, this also means that a few big corps will probably buy up all the coins to get more work than the others, effectively centralizing the ether network. There's too much money involved in ETH today for this not to happen imo. And let's not forget that ETH went rolled the blockchain back when the dao happened, which created the ETC fork. This happened even though the core principle of the blockchain, as I understand it, was also that it could and should not be changed, whatever happened...so can you really trust ETH? Not so sure...

This in turn might drive the ETH prices up through the roof and all the eth devs will be very happy. Or will take ETH down...hard to predict.

[kelseydustin]

Well, In my opinion, Proof-of-stake is more effective than proof-of-work. Using the POS will help us to reduce the amount of electricity used every year and the world will be cooler, the environment will be more clean. Therefore, I support proof of stake

[jackychanxxx]

From the security point of view, PoS/PoW hybrid is the most secure way.

[lizardbtc]

With PoS everyone earn depending on how many coins they hold. I don't like this thing as it goes that PoS is a rich getting richer scheme in a way + with PoS people are actually forced to have their client open to stake their coins  - > so there is more nodes which is positive but on the other hand people just tend to put their coins lying around as they earn they are not willing to spend it as with more they have the more they will earn.


While with PoW aka proof of work people need to mine the blocks which is hard to do in case of big competition and because of the difficulty. And with PoW people are not just willing to put their coins they actually tend to use it more often.  But again the major downside is that it costs enormous amounts of electricity costs and also the repairs here and there with buying better and better miners...

If you ask me I like PoW more as with PoS it is just a scheme to earn and accumulate more money, I don't see that crypto currency is made to be just an investment and a thing to flip the money. I rather see the cryptocurrency and I want to see it as a currency where I will use it rather than put it a side and let the coins to stake.