Proof-of-Stake (vs proof-of-work)
* O link do vídeo está no final desse post.
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Cryptocurrencies use a ton of electricity because of mining. In recent years people started working on a different technique called Proof-of-Stake. Not only does it use less energy, it can also be more secure.
(This video is a re-upload to fix a mistake I made in the previous one. Sorry about that!)
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Vídeo
I'm not too sure about the 51% attack. Why would any miner (or group of miners) do that if that would destroy the worth of bitcoin entirely? That's like saying "I'm going to make some fraudulent transactions to earn extra bitcoin at the cost of destroying bitcoin's worth entirely."
whats to stop people from creating wealth pools for this ?
I don't understand how this changes the situation, someone with a giant bitcoin mining warehouse will still have more bitcoin/money, thus be the one to invest more into stake. They can afford to lose more on transactions than the average user. Not to mention if this is enacted it could split the chain. PoS seems like a speedrun to centralization rather than vice versa and continues the use of crypto as a speculative asset rather than something that will be usable.
Yeah 79 billion is 50% of all bitcoin… good times back then
some day people will realize why transactions use centralized and regulated systems. Blockchain has enough hype and buzz to attract usage but there's better methods for nearly every use type.
I guess this guy never heard of staking pools
So what ARE the validators? Software on our computers? And we are chosen to receive a transaction and validate it manually, but we are chosen to validate it with the algorithm?
Why can't there be a world wide mining pool instead
I have not understood
Proof of wok
&
Proof of steak
Is this edible raw or more like medium metal as pans and puns once were?
Is this English or maybe Asian? Is this well done?
Isn't that proof, admittedly everyone is just it themselves, because isn't that the way it is, that everyone is the architect of their own luck, where life is like pizza, flat and with too much cheese everywhere.
I bet the initial comments to QuantumMechanic were "That's a terrible idea and would never work.", as usual.
suppose I am the validator and I put fraudulent transactions in the blockchain, how will I be busted?
OK silly question so how does a validator know if they are doing fraudulent work for example by accident not on purpose?
Is there the potential for people doing the right thing to be penalised wrongly due to others bad actions? This seems to be the most obvious flaw to mind if this be so.
More questions stem from this regarding fraudulent transactions which the existing fiat currency has had to deal with for centuries.
Very nice video 😊. But boi so many things wrong. PoW is much more secure and it's incetivizing renewable energy development which many BTC miners are running on already anyway.
Good, try to keep an authentic accent, at some point I had the feeling that you were copying the ton of the "scandinavian investor", wich is quite frankly weird and quite ugly (speaking of him). Also a realistic exemple would have been welcome to deeper the comprehension, for not it's still not enough. Thanks anyway for your work !
@Simply Explained Is their a future for pow if all coins follow suit to pos? Some please help and answer, I was planning on putting a nice amount on a mining rig but after this video I may be reconsidering.
Sense
On the POS (needs a better acronym) it isn’t that “rich people” are a problem, it’s that it can lead to a concentration in validating, which in turn may lead to less transparency, and also seems at risk to gaming.
there is hope we may be able to buy gpus one day
Thank you!
How are fraudulent transactions detected?
So in Proof of Stake if a validator is chosen and they have a really poor performing pc, does it take longer for the coin to be minted?
nuclear energy does provide enormous amounts of electricity
It's safer to store my coins/tokens in my Atomic wallet.
what if there are transactions that are higher than any stake in the system?