@binance: #Binance is excited to announce the launch of Binance Pool, offering Proof of Work (PoW) and Proof of Stake (PoS) services for a variety of coins and tokens. Binance Pool’s first product offering will be #Bitcoin mining, using a FPPS payment method. https://t.co/PBIJQkixWY
"Although Bitcoin was intended to be a decentralized digital currency, in practice, mining power is quite concentrated ... [O]ur work further motivates the study of protocols that minimize 'orphaned' blocks, proof-of-stake protocols, and incentive compatible protocols." [abstract + link to PDF]
Hey everyone, this post about bitcoin PoW mining in r/environment is shedding other cryptos like Ethereum in a negative light due to power consumption. Let's get loud about proof of stake and let them know about it by upvoting the comments about it.
Would proof of stake decrease the risk of the mining centralisation we are currently seeing with Bitcoin
It scares me that you can have 80%+ of bitcoin miners represented on a single stage, and due to economies of scale could become worse over time. It seems like bitcoin is no longer a decentralised currency. Would PoS lessen this risk?
Is there any need for mining any more? What if Bitcoin switched to a Proof of Stake system?
I've been growing concerned lately in regards to the amount of energy being used for Bitcoin mining as well as concerned about the GHASH 51% fiasco. It makes sense that initially a proof of work system allows the coins to be distributed in a way that no one person will have them all, but now that mining is mainly being done by a handful of larger players wouldn't it be better to switch to a Proof of Stake system where coins are distributed and mined by proving ownership? I know other coins use systems like this such as NXT, Bitshares, and Peercoin. If mining continues to increase in cost it seems Bitcoin may HAVE TO switch to something else or be at constant risk of a 51% attack. We've already seen it get dangerously close once. Thoughts?
"Mining" ist die Erschaffung von Coins von Kryptowährungen, wenn man es grob umschreiben möchte. Doch es steckt viel mehr dahinter. In unserem Special erfahrt ihr, was es für Möglichkeiten zum ... Bitcoin Proof of Stake. Innovative payment technology, today. The world needs transformative digital payment technology today, not tomorrow. That’s why Bitcoin PoS is here. It delivers a transformative proof of stake blockchain backing the original Bitcoin codebase for a cryptocurrency payment network without compromises. Proof of Stake explained. Proof of Stake is similar to Proof of Work — it’s used to maintain consensus and keep the cryptocurrency ledger secure — but with one major difference: There’s way less Work!. Instead of using a specialized mining rig to calculate a targeted hash, a miner who wants to create a new block chooses to stake an amount of the cryptocurrency they want to mine. With Proof of Stake (POS), Bitcoin miners can mine or validate block transactions based on the amount of Bitcoin a miner holds. Proof of Stake (POS) was created as an alternative to Proof of Work ... In this section, we're going to talk about a technique called proof-of-stake mining puzzles. In a variety of related techniques which all together I'll call virtual mining because they don't involve any computational work at all. Now, the motivation for this is that Bitcoin mining seems to have an unnecessary step. If you look at the ecosystem of Bitcoin mining economics, the coin miners earn ...
In diesem Tutorial schauen wir uns Bitcoin's Lösung zum Double-Spend Problem an - den Proof of Work. ACHTUNG: Kleine Korrektur: Die Difficulty wird alle 2016 Blöcke angepasst, das entspricht 14 ... This short video explains the concepts of Proof of Work (POW) and Proof of Stake (POS) in the Bitcoin terminology. for more information visit http://99bitcoi... Cryptocurrency Altcoins Proof of Stake Mining overview and selling of coins. Genesis Mining upgrade videos will be my next video. Mine now on https://www.gen... The Cryptoviser on YouTube. Daily Cryptocurrency, Blockchain, Investing and Finance News and Discussions. ***** Want to help support The Cryptoviser, there are 3 ways: 1. CashApp me directly ... An explanation of cryptographic proof-of-work protocols, which are used in various cryptographic applications and in bitcoin mining. More free lessons at: ht...