Proof-of-StakeWork for miners!

[bluebeagle]

Hello miners!

Here's an interesting article about POW, POS, and Proof-of-StakeWork!

https://diode.io/mining/2019/05/06/introducing-proof-of-stakework.html

"Proof-of-StakeWork is, at its core, a POW protocol but also employs POS economics to allow miners to grow their mining operation by reinvesting the block reward instead of having to buy more hardware and consume more electricity"

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[CLywaTeLb]

Well, well, this is what I was waiting for. Perhaps in the future it will be further improved, so that a small amount of energy is consumed for both the PoS and the blockchain reliability for PoW. PoSW as the type of existence of the blockchain looks the most attractive of all existing at the moment.

[Awesomus Maximus]

This is the first time I have heard about this concept that tries to merge Pow and Pos. Let me clear some things up. You say that miners have a choice to cash out the mining reward or to reinvest it by stacking it. Are only the miners allowed to stake? Or every other network participant can stake even if not being a miner? 

[X-ray]

This is the first time I have heard about this concept that tries to merge Pow and Pos. Let me clear some things up. You say that miners have a choice to cash out the mining reward or to reinvest it by stacking it. Are only the miners allowed to stake? Or every other network participant can stake even if not being a miner? 

I believe if that concept is about to reinvest the incentive that already got by the miner into the staking address and they can get more from there. Just try to take reinvest as the main key in this concept but what will be the different between try to use the coin that already mined and then put it into the new staking wallet? in staking process will available for all of the users.

[Lucasgabd]

Well, well, this is what I was waiting for. Perhaps in the future it will be further improved, so that a small amount of energy is consumed for both the PoS and the blockchain reliability for PoW. PoSW as the type of existence of the blockchain looks the most attractive of all existing at the moment.

this reminds me of the old project PoSW,now rebranded to StakeNet.
but you probably didn't mean it, right?

[CLywaTeLb]

Yes, I meant the basic organization of mining for all coins. If the miner has the ability to do staking, it will save the price of the coin. If miners gain an advantage for the staking (for example, double reward for newly minted coins), this will increase the blockchain's resistance to attacks.

[shaheer001]

Proof of stack is designed to solve the energy consumption issue associated with POW.Article is very rich and well explained thanks to share.

[lobat999]

Since this is a new consensus algorithm, I want to ask if there a comparison sheet with regards to its mining profitability? Did it undergo testnet mining first or is it already on with the mainnet? And what benefits will miners get if they mine this network altogether?

[irixo10]

Sincerely this is my first time of hearing such, but having gone through the article I must say the concept is one of its kind.
They believe by merging the benefits of PoW and PoS they will enable miners grow their mining by reinvesting. Also, with their concept 51% attacks will also be a thing of the past and other advantages.
I think its worth the attention, waiting to see how it plays out.

[Christinebeauty]

High electrical energy consumption is one of the challenges for miners. It makes miningless profitable in areas where electricity is very expensive. If this innovation is going to cut down electricity cost for miners, then this is a good news.

[asriloni]

High electrical energy consumption is one of the challenges for miners. It makes miningless profitable in areas where electricity is very expensive. If this innovation is going to cut down electricity cost for miners, then this is a good news.

Have you understood what has already written by OP? the new concept is not removing the POW but it was adding POS that can be used only by the miners. there must not be a lot of differences with a platform that used POW only. but that new concept was bring more profit to the miners and the stake holders get nothing from their own pocket. That's a useless concept.

[Galantin]

High electrical energy consumption is one of the challenges for miners. It makes miningless profitable in areas where electricity is very expensive. If this innovation is going to cut down electricity cost for miners, then this is a good news.

Have you understood what has already written by OP? the new concept is not removing the POW but it was adding POS that can be used only by the miners. there must not be a lot of differences with a platform that used POW only. but that new concept was bring more profit to the miners and the stake holders get nothing from their own pocket. That's a useless concept.

Why do not get nothing. After all, they can continue to mine on their investments with the help of POS. In general, I am now interested in projects that allow you to earn on investments with the help of PoS. Right now, one of the top Harmony projects will be built POS on mining.

[asriloni]

High electrical energy consumption is one of the challenges for miners. It makes miningless profitable in areas where electricity is very expensive. If this innovation is going to cut down electricity cost for miners, then this is a good news.

Have you understood what has already written by OP? the new concept is not removing the POW but it was adding POS that can be used only by the miners. there must not be a lot of differences with a platform that used POW only. but that new concept was bring more profit to the miners and the stake holders get nothing from their own pocket. That's a useless concept.

Why do not get nothing. After all, they can continue to mine on their investments with the help of POS. In general, I am now interested in projects that allow you to earn on investments with the help of PoS. Right now, one of the top Harmony projects will be built POS on mining.

POS only applied for miners only and I meant about that. Basically that POS is not allowed to be used by a common holders. As far as I know there are some hybrid platforms that used POW combined with POS and you can do both at the same time. But the fact that this system looks similar with it.