Proof Of Transaction "kills POW and POS"

[cryptoaddictchie]

Hi all I dont know if you heard this new mechanism protocol by TAUCOIN project, probably some will argue of its worth but I think its concept strand the lack of major consensus such as POW and POS. POT, refer to the new experimental consensus algorithm that determine the mining club that will generate next block. Primary purpose is to increase the number of transactions on the network over time. Since this tech still on their testnet, the transactions accumulated as of now were 888,859 thousands since its inception. That tx was acquired from more than 100k users since its introduction.

The concept is the more transaction amount is high, time interval between blocks will shrink to achieve the more transactions, the higher speed and known as an eco friendly creation since  it doesnt consume energy cost compared to POW. Maybe some of you can actively disagree but I found their creation useful as it depends on the network transactions and not by power and holding scheme (POS) to benefit from earning rewards.



Here is their ongoing whitepaper for tech's clarity https://www.taucoin.io/whitePaper

[mixoftix]

Any single idea that introduces a new PROOF protocol is valuable and enriches the whole ecosystem, especially when the new protocol tries to work in transaction level.

Also, there is a part in page 8 of the whitepaper entitled “Abusive Transactions” that says: “With new POT consensus, TAU can be susceptible to new types of attacks that are based on manipulation of transactions.” I think at least the control attacks (51%) will solve by the mining club market entity that TAU introduces in diagram 3, page 7 of the PDF – entitled “Economy in TAU” – which could also shift the whole network into a centralized topology, and this is what I have found discussable in document.

-- Shahin

[vit05]

This topic belongs to the altcoins section. Or rather, the shitcoins section. This "kil" title is just a clickbait. The reality is that this is another token ( ERC-20) with a paper without major technical specifications. And an account that serves only to shill creating various topics about this project that no one knows or discusses about.

[KingZee]

This topic belongs to the altcoins section. Or rather, the shitcoins section. This "kil" title is just a clickbait. The reality is that this is another token ( ERC-20) with a paper without major technical specifications. And an account that serves only to shill creating various topics about this project that no one knows or discusses about.

In general the word "kill" is always going to be clickbait.

The one and biggest example to cite against that is Ethereum. It comes with a MASSIVE boost to functionality compared to bitcoin. If bitcoin is a decentralized transaction ledger, Ethereum is like a decentralized master computer where a "transaction ledger" can be a tiny small application of its full potential.

AND YET, look at bitcoin price going up. Regardless of whatever new altcoins come up with, they will never override existing coins. Purely because of the sheer amount of money being moved around. Its ironic how this used to be said about banks, but can now be said about both btc and eth, "They're too big to fail."