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Is PoS safer over PoW?
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Topic: Is PoS safer over PoW? (Read 192 times)
kimochidesh
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Re: Is PoS safer over PoW?
May 31, 2018, 07:11:36 PM
#21
Yes, the Proof-of-stake eliminates some of the major security issues associated with the Proof-of-work scheme. The most obvious of them is the 51% attack. If an attacker was to hack a cryptocurrency network today, for instance, the Bitcoin network, he would have to gain 51% of the computing power. This can be made possible if some of the largest mining pools join together to attack the network. While this is highly unlikely politically, technically, it is still a possibility.
Robin,Hood
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Re: Is PoS safer over PoW?
May 31, 2018, 07:34:34 PM
#22
Quote from: kimochidesh on May 31, 2018, 07:11:36 PM
Yes, the Proof-of-stake eliminates some of the major security issues associated with the Proof-of-work scheme. The most obvious of them is the 51% attack. If an attacker was to hack a cryptocurrency network today, for instance, the Bitcoin network, he would have to gain 51% of the computing power. This can be made possible if some of
the largest mining pools join together to attack the network
. While this is highly unlikely politically, technically, it is still a possibility.
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marydarli
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Re: Is PoS safer over PoW?
May 31, 2018, 08:55:54 PM
#23
Video sharing is the process of uploading, publishing, and sharing video clips online.
There are many video sharing websites/platforms out there such as YouTube, Vimeo, Dailymotion, and Verasity.
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hihitao40
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Re: Is PoS safer over PoW?
June 01, 2018, 12:17:47 PM
#24
I think the security is pretty much the same.
Both POW and POS have their advantages, so long as it is a token of the underlying technology of the blockchain, it is worth investing, because no one knows that there will be a big increase in the future generation.
rucapri0
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Re: Is PoS safer over PoW?
June 05, 2018, 08:41:33 AM
#25
Soon Ethereum testament hard change to PoS, and I can't wait to card what happens. pow right applications means very frequently thrilling.
moshk555
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Re: Is PoS safer over PoW?
August 09, 2018, 06:22:24 AM
#26
The bitcoin although does not cover the majority of the market it covers nearly 40 percent of the market so imagine that overnight 40 percent of the market value f the cryptocurrency market dis appease the trust of the people cryptocurrency will be destroyed and money retraction will occur
BitcoinHodler
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Re: Is PoS safer over PoW?
August 09, 2018, 06:42:01 AM
#27
i don't think we can prefer one over the other. both are good algorithms and both have pros and cons of themselves. there simply isn't some perfect magical algorithm that you can use.
for example PoS in my opinion has a bad design when it comes to distribution which is totally unfair. and i am not alone in this. and that is not all the algorithms out there. there is a lot more. in fact someone recently made a list of all of them here:
https://bitcointalk.org/index.php?topic=4776600.0
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Kryten12
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Re: Is PoS safer over PoW?
August 09, 2018, 06:44:56 AM
#28
I don't think there should be any difference in security issues between Proof of Stake and Proof of Work you are using an encrypted algorithm for both. Proof of stake is far less power hungry as you only need to run 1 machine virtual or actual per node I am involved in 2 proof of stake coins at the moment.
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CryptoAlphaStar
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Re: Is PoS safer over PoW?
August 09, 2018, 07:05:04 AM
#29
I can easily imagine a huge debate will develop over this topic.
Essentially both can be 51% attacked with.... having enough money and desire to own 51% of the resources needed to crack the system. It doesn't matter if you will buy hardware equipment (PoW) or just buy coins (PoS).
Tone147
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Re: Is PoS safer over PoW?
August 09, 2018, 07:14:16 AM
#30
I think the POW mechanism is more secure because even though the POS mechanism does not consume energy.
However, the POS mechanism may face a situation where most tokens are concentrated in the hands of a few people.
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