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JUST_DO_IT.MP3

JUST_DO_IT.MP3

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[–] 1 pt

crypto as a whole is moving from proof-of-work (mining) to proof-of-stake (staking).

staking is drastically more efficient and does not require mining to process transactions. because of this efficiency, it is drastically quicker (some PoS blockchains finalize within 2.5 seconds).

eth 2.0 moving to PoS is a full concession that it's the future.

[–] 3 pts (edited )

Counterpoint: Proof of work requires a miner to select one branch of a blockchain to dedicate his hardware to. So counterfeit branches will always be ignored by the majority of miners.

Proof of stake allows miners to back as many branches as they like, since they'll have a stake in all of them.

Also, the energy consumption of POW is massively overstated. I've seen articles saying crap like "each bitcoin transaction costs the equivalent of a month's electricity for an average household." Unless bitcoin miners are kind minded philanthropists making hundreds of thousands of dollars in losses per block, those kind of statements just don't make any sense.

[–] 0 pt (edited )

pure proof of stake blockchains do not utilize miners or mining at all to process transactions. they use nodes, which do not function the same way at all.

examples would be cardano or algorand.

i do agree the energy use argument is wildly overstated and is a virtual non-issue for PoW, though. it's still just slow and shitty compared to PoS.