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Author Topic: Is there a better consensus based on mining? show your opinion!  (Read 200 times)
paskah01
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December 19, 2019, 11:00:05 AM
 #21

I have never been minning and I might not be included here. but based on what I read, minning consumes a lot of electrical energy which is certainly not a good impact on the environment. if it is continued, then the effect will be global warming. in my opinion what should be emphasized here is how to optimize the lowest possible electrical energy. so, it doesn't cost a lot of electricity and also has a lot of electricity.

You ever heard about Proof of Participation? It's energy sufficient, probably greener than any other consensus Smiley
https://blogchainzoo.com/proof-of-participation/

Is it fundamentally different from DPOS? I think people who might support DPOS can accept Proof of Participation.
Forgive me do not have much time to carefully analyze.

Yes, quiet different. And nope, i don't think so for DPOS is way more centralized than PoP which is (from my opinion) the best option for decentralized system..



Blockchain is a reflection of a social organization, not just technology itself.
Based on the reality of the situation, POS chain's health arenot very good.
So before the POS is better, I still agree with the security of POW.
Hope ETH2 can change something..



I agree. PoW's security has been proven to be the longest secured track. But i think it won't last for so long, the fact that somebody with more processing power can take over the minority is a risky point for a decentralized network. Also considering the electricity consumption...

In this case i speak about decentralization.

The  important thing  is to have as many random people as possible participate in mining for the sake of decentralization and security  of a cryptocurrency. Bitcoin is not enough!


Yep in order to maintain the decentralize system, but it's also really possible to get centralized or 51% attack (though nearly impossible ya), i just think it's not a good mechanism for decentralization. https://www.youtube.com/watch?v=0sDtorfzG7w&t=788s

You should read about PoP seriously, it haven't been implemented by many but i am somehow sure it's a future consensus alogrithm for decentralization. Just google, Proof of Participation Blockchain Zoo . it is new but on 2008 bitcoin also weren't as hype and big as now, i'm sure they will find their way to the stars

Cheesy

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December 19, 2019, 11:06:51 AM
 #22

Mining ETH and XMR is the most profitable but other algos like x11 and others are not profitable at all, using whattomine website says it all, mining is not encouraging now unless you have access to free electricity
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December 20, 2019, 02:46:13 AM
 #23

Mining ETH and XMR is the most profitable but other algos like x11 and others are not profitable at all, using whattomine website says it all, mining is not encouraging now unless you have access to free electricity
Please, read the context carefully and this is not about how profitable mining is. This was discussing about a new consensus that can be used to mine crypto.
I think you should put more effort to write something that is not become a non sense thing. X11 is an old algo compared with X20

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f2f.mirrors
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December 20, 2019, 06:12:52 AM
 #24

Mining ETH and XMR is the most profitable but other algos like x11 and others are not profitable at all, using whattomine website says it all, mining is not encouraging now unless you have access to free electricity
Please, read the context carefully and this is not about how profitable mining is. This was discussing about a new consensus that can be used to mine crypto.
I think you should put more effort to write something that is not become a non sense thing. X11 is an old algo compared with X20

When I was google proof of space time, I noticed the SPACEMESH project. They claimed that mining can be done with ordinary PCs, which requires CPU and hard disk space.
Do you think the consensus of this project is a better choice in the future?

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f2f.mirrors
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December 20, 2019, 06:20:56 AM
 #25

I think that the main point of energy-saving should be on the algo, if you are seeing more and more developers are creating new algos with more and more efficiency compared with the old algo. Remember when it comes to the algo that is having a very high efficiency that can reduce energy consumption.
I think that you must try to see X20 or X11 algorithm. both have been used by some coins too.




I agree with you that X20 is a good algorithm, but it is still not decentralized.
If there is an algorithm that allows existing ordinary computers to participate in mining at home or in the workplace, it is foreseeable that this method has unparalleled advantages.
To achieve this goal, low energy consumption is necessary, and another necessary condition is that no professional equipment can have higher efficiency. The 10%, 20% advantage may be acceptable, but 100%, 200%, or higher is not acceptable.
In addition, the waste of social resources caused by ASIC is great. Not only energy waste, but also competition with IC production capacity, the price of iPhone may therefore be higher.
if that was not yet decentralized and what make it becomes decentralized? if you are implementing such algo to the POW and that will be enough decentralized as bitcoin. 100% efficientcy is not acceptable and more than it can be catagorized as a non sense thing.
What makes the blockchain becomes decentralized is not the consensus and i think that algo has nothing to make blockchain becomes decentralized but the node does it to make blockchain becomes decentralized.

Get it. The number of node is the key point. No matter what the algo is, as long as it is a mining pool model, it's difficult to make changes.

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f2f.mirrors
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December 20, 2019, 07:52:13 AM
 #26

I think that the main point of energy-saving should be on the algo, if you are seeing more and more developers are creating new algos with more and more efficiency compared with the old algo. Remember when it comes to the algo that is having a very high efficiency that can reduce energy consumption.
I think that you must try to see X20 or X11 algorithm. both have been used by some coins too.




There is a question, why X20 is energy efficient? who is compared with, ethash,sha256 or other?

Weakness and ignorance are not barriers to survival, but arrogance is.
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