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Author Topic: What is the Best consensus in your opinion? POW, DPOW or POS?  (Read 249 times)
ThachSanhTp
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October 17, 2018, 06:58:31 AM
 #1

As the title, we are talking about the popular consensus - as I know now that includes  POW, DPOW and POS. So what is the Best consensus in your opinion?
I my idea:
- POW: Consume much electric energy of our world => unnecessary wastage.
- DPOS: Does not consume much energy but quite centralized (There are some validators)
- POS: Does not consume much energy + More decentralized.

Have I understood right?
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October 17, 2018, 07:06:33 AM
 #2

I like POW. 

The amount of energy put into it is up to the miners, it can run on any spare capacity - a lot or a little.  For a currency to require some work to produce makes some sense really.. 

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October 17, 2018, 07:15:01 AM
Last edit: October 17, 2018, 09:41:17 AM by X-ray
 #3

As the title, we are talking about the popular consensus - as I know now that includes  POW, DPOW and POS. So what is the Best consensus in your opinion?
I my idea:
- POW: Consume much electric energy of our world => unnecessary wastage.
- DPOS: Does not consume much energy but quite centralized (There are some validators)
- POS: Does not consume much energy + More decentralized.

Have I understood right?
POS is the best consensus mechanism, we know that in this time global warming has become the real problem an with the POS system and it will be more suitable because we will not waste our energy to secure the decentralization of blockchain. It's conservative. Have you seen how much energy that has already consumed to secure the blockchain?  Roll Eyes

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October 17, 2018, 07:15:37 AM
 #4

As the title, we are talking about the popular consensus - as I know now that includes  POW, DPOW and POS. So what is the Best consensus in your opinion?
I my idea:
- POW: Consume much electric energy of our world => unnecessary wastage.
- DPOS: Does not consume much energy but quite centralized (There are some validators)
- POS: Does not consume much energy + More decentralized.
Have I understood right?
For me, the most reliable protocol is Fiat cash. Decentralization is the same myth as democracy. Although of course there are huge advantages for the blockchain, one cannot argue here. Of all the protocols, the most reliable POW. The rest is just not good enough.
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October 19, 2018, 04:17:48 AM
 #5

After thinking about all three of the consensus and their way of working, POS seems like the best option. While it does not consume much energy, it is more centralized than any other consensus here. All in all it provides with the best performance.
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October 19, 2018, 11:13:07 AM
 #6

I think the most reliable protocol is Fiat cash. We know that in this time global warming has become the real problem an with the POS system it will be more suitable. Of all the protocols,the most reliable is POS. The rest is just not good enough.
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October 19, 2018, 01:30:38 PM
 #7

All of them are not so clear and all of them have their own minuses and disadvantages. I use each one because they are completing the full picture for the work.
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October 19, 2018, 02:01:01 PM
 #8

POS is the best here because I use it for so long and there are not any problems with it if you are ready to support it with all necessary resources and others.

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October 19, 2018, 02:23:32 PM
 #9

We should also consider PoUW (Proof of Useful Work), which utilises the computing resources to perform calculations that are actually useful and not just for the sake of solving a difficult hashing puzzle.

Some examples of cryptocurrencies using PoUW will be Gridcoin, Primecoin and Byteball, just to name 3 off the top of my head (but there is some debate on whether Primecoin calculations are truly "useful").
ThachSanhTp
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October 20, 2018, 04:30:19 AM
 #10

POS is the best consensus mechanism, we know that in this time global warming has become the real problem an with the POS system and it will be more suitable because we will not waste our energy to secure the decentralization of blockchain. It's conservative. Have you seen how much energy that has already consumed to secure the blockchain?  Roll Eyes

I totally agree with you.
Some people said POS is for wealthy people. But I disagree with them that, because:
 To mine (POW) => we need Money to buy Mining machines (ASIC, GPU...)
 To stake (POS) => we need Money to buy Coins, send it to a wallet to start staking.

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October 20, 2018, 09:31:39 AM
 #11

POS is the best consensus mechanism, we know that in this time global warming has become the real problem an with the POS system and it will be more suitable because we will not waste our energy to secure the decentralization of blockchain. It's conservative. Have you seen how much energy that has already consumed to secure the blockchain?  Roll Eyes

I totally agree with you.
Some people said POS is for wealthy people. But I disagree with them that, because:
 To mine (POW) => we need Money to buy Mining machines (ASIC, GPU...)
 To stake (POS) => we need Money to buy Coins, send it to a wallet to start staking.



However, the probability of successfully staking under POS also depends on the amount of coins you have. However, some coins have a dPOS algo that allows you to delegate your stake to another party, or you can also pool your stake with other coins.

Lisk and EOS are examples of dPOS coins, while NEO, Gridcoin, Blackcoin and Peercoin are some examples of POS coins.
ThachSanhTp
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October 24, 2018, 02:49:16 AM
 #12


However, the probability of successfully staking under POS also depends on the amount of coins you have. However, some coins have a dPOS algo that allows you to delegate your stake to another party, or you can also pool your stake with other coins.

Lisk and EOS are examples of dPOS coins, while NEO, Gridcoin, Blackcoin and Peercoin are some examples of POS coins.

Oh, I do not understand clearly here. I think the reward of staking should be equally divided for the stakers.
For example:
total coin: 2000, annual inflation = 1%
=> Each year has 2000*1% = 20 new coin created.

If there are only 2 stakers:
A with 100 coin in his wallet
B with 900 coin in his wallet

=> Then the reward will be divided for the stakers as below:
A = 20 * (100/(100+900)) = 2 coin
B = 20 * (900/(100+900)) = 18 coin.

Right?
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October 24, 2018, 02:15:42 PM
 #13


However, the probability of successfully staking under POS also depends on the amount of coins you have. However, some coins have a dPOS algo that allows you to delegate your stake to another party, or you can also pool your stake with other coins.

Lisk and EOS are examples of dPOS coins, while NEO, Gridcoin, Blackcoin and Peercoin are some examples of POS coins.

Oh, I do not understand clearly here. I think the reward of staking should be equally divided for the stakers.
For example:
total coin: 2000, annual inflation = 1%
=> Each year has 2000*1% = 20 new coin created.

If there are only 2 stakers:
A with 100 coin in his wallet
B with 900 coin in his wallet

=> Then the reward will be divided for the stakers as below:
A = 20 * (100/(100+900)) = 2 coin
B = 20 * (900/(100+900)) = 18 coin.

Right?

Some PoS algos may differ, but in general, PoS is similar to a "lottery" concept.

To simplify an explanation:
In your example, the total staking pool is 1000 coins (100+900).

For every block, A has a 10% chance of staking a block while B has a 90% chance due to their staking balance. On average, A will get the block reward for 1 block out of every 10 blocks while B will get the block reward for 9 blocks.

This is different from what you mentioned about the stake rewards being divided equally because in the practical sense, if there was a third staker with 0.0000001 coins, it does not mean that he will get a proportionately small block reward for every block. It means that he may have to wait a very long time before he successfully stakes a block.

Probably a way for a very small staker to get rewards will be to join a staking pool, but even then there will probably be a minimum withdrawal amount so it might still take a long time to see any real rewards!
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October 24, 2018, 02:23:25 PM
 #14

I like POS mode. Because it will not pollute the environment like POW mining. There is almost no cost. I think this is the future development mode.


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ThachSanhTp
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October 26, 2018, 12:26:50 PM
 #15


However, the probability of successfully staking under POS also depends on the amount of coins you have. However, some coins have a dPOS algo that allows you to delegate your stake to another party, or you can also pool your stake with other coins.

Lisk and EOS are examples of dPOS coins, while NEO, Gridcoin, Blackcoin and Peercoin are some examples of POS coins.

Oh, I do not understand clearly here. I think the reward of staking should be equally divided for the stakers.
For example:
total coin: 2000, annual inflation = 1%
=> Each year has 2000*1% = 20 new coin created.

If there are only 2 stakers:
A with 100 coin in his wallet
B with 900 coin in his wallet

=> Then the reward will be divided for the stakers as below:
A = 20 * (100/(100+900)) = 2 coin
B = 20 * (900/(100+900)) = 18 coin.

Right?

Some PoS algos may differ, but in general, PoS is similar to a "lottery" concept.

To simplify an explanation:
In your example, the total staking pool is 1000 coins (100+900).

For every block, A has a 10% chance of staking a block while B has a 90% chance due to their staking balance. On average, A will get the block reward for 1 block out of every 10 blocks while B will get the block reward for 9 blocks.

This is different from what you mentioned about the stake rewards being divided equally because in the practical sense, if there was a third staker with 0.0000001 coins, it does not mean that he will get a proportionately small block reward for every block. It means that he may have to wait a very long time before he successfully stakes a block.

Probably a way for a very small staker to get rewards will be to join a staking pool, but even then there will probably be a minimum withdrawal amount so it might still take a long time to see any real rewards!

Understood. Thanks
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October 26, 2018, 12:37:10 PM
 #16

POW - distribution - - the only trustless way

POS3 or posp  - long term security

forget the rest

Never let a project require a period of trust else it is fucked forever

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November 27, 2018, 06:47:22 AM
 #17

As the title, we are talking about the popular consensus - as I know now that includes  POW, DPOW and POS. So what is the Best consensus in your opinion?
I my idea:
- POW: Consume much electric energy of our world => unnecessary wastage.
- DPOS: Does not consume much energy but quite centralized (There are some validators)
- POS: Does not consume much energy + More decentralized.

Have I understood right?

Most of people do not care about energy. In addition, you may build a farm in a country, where energy is cheap, so the issue will be solved.
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November 27, 2018, 06:53:45 AM
 #18

There is no "best" consensus. Only the consensus that works for your network because it is suitable for it within all the context of network security versus userbase versus costs versus scalability. Ethereum used POW for a long time and found it unsuitable and now want to move to POS. But POW worked for Bitcoin for a very long time and they said costs were just going up but hashrate does drop as it is now when Bitcoin price itself is low. And the network is super secure the most secure among all coins.

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November 27, 2018, 07:57:40 AM
 #19

As the title, we are talking about the popular consensus - as I know now that includes  POW, DPOW and POS. So what is the Best consensus in your opinion?
I my idea:
- POW: Consume much electric energy of our world => unnecessary wastage.
- DPOS: Does not consume much energy but quite centralized (There are some validators)
- POS: Does not consume much energy + More decentralized.

Have I understood right?

Today there are a lot of new consesuses, so I consider that one of them will be able to become as popular as those three that you have mentioned.
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November 27, 2018, 08:02:06 AM
 #20

Proof Of Work is fairer than all, the thing that influences us in getting money is how intentional and diligent we are in doing work, not saving money in a place and hoping that money comes by itself
POW does require a lot of energy, but it is the art of making money, we must be good at managing and also controlling all our abilities
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