Which Proof of Stake System is the Most Viable

[achimsmile]

Bitcoin itself has proven PoW a failure.

Well I'd not go that far, it's seems to be working, but with flaws and serious limitations, and a huuuge waste of energy.
Anyway, I'm still fond of PoS like you, but in general blockchains are limited (scalability, growth of the chain, fees).

The way IOTA uses PoW is totally different, because there are no blocks and you only need to do very little PoW when doing a tx, so no energy gets "wasted", and the network is already proven to handle 30+ tps without any fees (100 tps are possible right now).

[kiklo]

Bitcoin itself has proven PoW a failure.

Well I'd not go that far, it's seems to be working, but with flaws and serious limitations, and a huuuge waste of energy.
Anyway, I'm still fond of PoS like you, but in general blockchains are limited (scalability, growth of the chain, fees).

The way IOTA uses PoW is totally different, because there are no blocks and you only need to do very little PoW when doing a tx, so no energy gets "wasted", and the network is already proven to handle 30+ tps without any fees (100 tps are possible right now).

Working , but ignoring the fact China completely controls it, just like the yuan.

If IOTA uses PoW, then it still has all of the weaknesses,
1.  PoW mining will be out of the reach of all but the ultra rich.
2. The coin itself is completely useless without the work provided by PoW device, which draws excessive energy and requires constant updating to stay competitive.
ASICS Arms Race

Proof of Stake the value is directly in the coin , not the PC it resides on,
As far as TPS, that is really a non issue that can easily be solved with off-chain transactions.

Example: Gift Card System (Allows Unlimited Transactions Off-Chain)
A Gas company can issue me a card , I send them ZEIT to fund the card,  (This Transactions is on-chain and recorded in the blockchain)
they record the balance and credit my gas card with that amount.  

When I buy the gas with their card , it deducts the amount of ZEIT from my balance,
and issues me a receipt from their record keeping system.
(This Transaction is Off-Chain and not recorded in the blockchain , only on their internal record keeping system.)
(Meaning there is now No Limits to Off-Chain Transactions)    


 

[achimsmile]

If IOTA uses PoW, then it still has all of the weaknesses,
1.  PoW mining will be out of the reach of all but the ultra rich.
2. The coin itself is completely useless without the work provided by PoW device, which draws excessive energy and requires constant updating to stay competitive.
ASICS Arms Race

You are thinking of PoW as the PoW used for regular blockchains. Your points are totally valid for blockchains and I share your view there, but the tangle works differently.

1. There is no mining in IOTA, there are no fees, there is no block reward. No need for expensive hardware as there is zero profit to be made from it. You can even use IOTA if you own nothing at all (sending data over IOTA is free).
2. The point is that running IOTA does not use much energy at all. The ONLY PoW that has to be done is a small amount of work when doing a transaction.

[kiklo]

If IOTA uses PoW, then it still has all of the weaknesses,
1.  PoW mining will be out of the reach of all but the ultra rich.
2. The coin itself is completely useless without the work provided by PoW device, which draws excessive energy and requires constant updating to stay competitive.
ASICS Arms Race

You are thinking of PoW as the PoW used for regular blockchains. Your points are totally valid for blockchains and I share your view there, but the tangle works differently.

1. There is no mining in IOTA, there are no fees, there is no block reward. No need for expensive hardware as there is zero profit to be made from it. You can even use IOTA if you own nothing at all (sending data over IOTA is free).
2. The point is that running IOTA does not use much energy at all. The ONLY PoW that has to be done is a small amount of work when doing a transaction.

If IOTA is using something different , they should call it something else to avoid confusion.
Po?,  I know call it PoT , Proof of Tangle  

Has IOTA even been released or is it still vaporware?
Coinmarketcap does not have any listing for them.


 

[achimsmile]

Has IOTA even been released or is it still vaporware?
Coinmarketcap does not have any listing for them.

Mainnet is live, but it's not yet listed on an exchange, only OTC trades so far.

Thanks for the discussion, let's not derail this thread further.

[farl4web]

Damelon of the Nxt Foundation did it again, creating good exposure for Nxt in the media! 
An article on blockchain governance was published in the renowned French "Revue Banque et Stratégie".
http://www.revue-banque.fr/management-fonctions-supports/article/gouvernance-des-blockchains-perspective-nxt

[inashed]

There are tons of proof of stake variants not at the list:

lowest amount of coins you had at the last X days is the stake
amount of coins you had at X days ago is the stake

amount of transactions your wallet made is the stake
amount of transactions your wallet made is the stake, transaction fees goes back to be mined after Z days
amount of transactions your wallet made at the last X days is the stake
amount of transactions your wallet made at the last X days is the stake, transaction fees goes back to be mined after Z days
amount of transactions your wallet made between X days ago and X - Y days ago is the stake
amount of transactions your wallet made between X days ago and X - Y days ago is the stake, transaction fees goes back to be mined after Z days

at any time send coins to a place that cant be traded or get back, all coins there are stake
at any time send coins to a place that cant be traded or get back, coins spend X days there before being destroyed, all coins there are the stake
at any time send coins to a place that cant be traded or get back, coins there X days ago are the stake.
at any time send coins to a place that cant be traded or get back, having coins there keep increasing variable and this variable is use to stake
at any time send coins to a place that cant be traded or get back, coins spend X days there before being destroyed, having coins there keep increasing variable and this variable is use to stake
at any time send coins to a place that cant be traded or get back,  having coins there X days ago keep increasing variable and this variable is use to stake

at any time send coins to a place that can't be traded, after X days you get back the coins to your wallet, all coins at this place are the stake
at any time send coins to a place that can't be traded, after X days you get back the coins to your wallet, all coins you had there Y days ago are the stake
at any time send coins to a place that can't be traded, after X days you get back the coins to your wallet, having coins at this place keep increasing variable and this variable is use to stake
at any time send coins to a place that can't be traded, after X days you get back the coins to your wallet, having coins at this place Y days ago keep increasing variable and this variable is use to stake

[sensei]

I even determine not entertain the billet between TF and DPoS. They feel close to me. Just newspeak