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Author Topic: PoW and PoS  (Read 230 times)
Grumlin
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April 21, 2024, 04:34:09 AM
 #21

Pow and Pos it’s Decred! Grin

If to be honest, pos almost the same like Pow, different only what give you power to “vote” in the chain.


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April 24, 2024, 05:41:52 AM
Merited by Kruw (1)
 #22

PoW vs. PoS should be an important topic, when reviewing a coin.

Pro and Contra Pos vs. PoW

Quite contrary to PoS, PoW is very hard or almost impossible to compromise. Not so for PoS, where more attack vectors can be found.

For example, PoS can be abused by rich stakers. Many PoS projects have a so-called pre-mining of coins allocated to the team and the team can abuse such pre-mined coins to gain influence about project decisions.
A large pre-mine is making a project centralized in many ways and devs can gain much influence by staking a large amount of PoS coins.
PoW is not having such issues.

A similar problem is called "nothing at stake", where attackers benefit from no cost to stake ETH or similar PoS coins. Should a fork occur, no matter if the fork is a friendly, accidental or a malicious attempt to rewrite history and reverse transactions, it’s a given strategy for any staker to stake on every chain. By doing so, he will get a reward no matter which fork will succeed and he will have no additional cost to do so.
In PoW, such a problem is not happening because PoW always means work (spending electricity) needs to be done. A cost occurs for every miner and he can’t mine on multiple chains because mining of a different chain means an extra cost.

Do you have more reason against / pro PoW / PoS?

PoW consensus algorithm is a backbone of a decentralised blockchain network. It's robust and unstoppable.

PoS reward distribution mechanism is a backbone of an unregistered security market. It's often used to conceal a central authority and distribute profits to shareholders in a public company.
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April 24, 2024, 08:21:50 PM
 #23

POW has attack vectors.

clogging the mempools with ordinals and hashrate manipulation is being done as I type.

I am a fan of POW not pos but POW has flaws.

POS is simply a terrible idea 💡.
I agree, POW isn't perfect but this is way better than POS. The POS is simply made for the developers that have baghold those tokens of theirs and have got a pre-mined supply on their side already. With PoW, it gives more security to the blockchain of the project even if there are attacks and spam, this is still better than POS.



 

 

 

 

 

 


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April 24, 2024, 09:25:48 PM
 #24

POW has attack vectors.

clogging the mempools with ordinals and hashrate manipulation is being done as I type.

I am a fan of POW not pos but POW has flaws.

POS is simply a terrible idea 💡.

Phil I agree.  PoS is probably my protocol of choice.  I think PoS encourages hoarding and benefits early holders of coins.  Most of the time at least nowadays a lot of the PoS coins have terrible distribution which discourages people from onboarding.  PoS has its issues especially with newer coins and lower profitability but I think the good outweighs the bad there.

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