Proof of Transaction: the future?

[precrime3]

It seems that to use the coin and support the network should be the best proof, as doing it will keep the network alive. I think we should start migrating off of POW and go towards POS, POT, etc. Is it feasible to run a network off of just these too? IT seems there's not a need for wasting electricity and energy if you could just use it or hold it and get the same effect.

[Kiki112]

why not?

for those not understanding
POS= point of sale
POT= point of transit
POW= point of waiting

[precrime3]

why not?

for those not understanding
POS= point of sale
POT= point of transit
POW= point of waiting

Lol troll much?

ITs POS = Proof of Stake
POT = Proof of Transactions (from fluttercoin)
OIW = Proof of Work

[Kiki112]

why not?

for those not understanding
POS= point of sale
POT= point of transit
POW= point of waiting

Lol troll much?

ITs POS = Proof of Stake
POT = Proof of Transactions (from fluttercoin)
OIW = Proof of Work

damn

I wasn't even trolling

google lied to me, you should be more clear on these things when even google can't explain them

[precrime3]

IT says your a full member, surely you know the basic POW/POS? And POT is in the title...

[Kiki112]

I don't, what is it?

[precrime3]

Proof of work : Hardware verifies the blockchain and transactions, bread and butter of all proofs
Proof of stake: Hold coins, works as interest basically. needs a way to distribute, either by mining and distributing the geneis block, or POW/POS hybrid.
Proof of transaction : Transactions sent via further strengthen the blockchain and rewards user for using it. Sorta like cash back rewards point.