Post
Topic
Board Speculation
Re: Debunking the waste of energy argument against Bitcoin
by
d5000
on 01/03/2018, 17:20:45 UTC
2. Proof-of-work is superior to other consensus algorithms like Proof-of-Stake and offers less attack vectors
2. Can you prove that? Can you? Or is it just your belief? How do explain the recent rise of new PoS coins, and even the ETH plans to transition to PoS? I'm guessing all these guys are stupid... right? PoW is an obsolete consensus mechanism, there are better alternatives. Period!
I support PoS (and PoC) research, and as I said in my last post I don't rule out that at the end it could be a better mechanism and PoW would then be regarded as "useless". But PoW without doubts has some advantages to PoS, like a higher "objectivity" when determining the longest chain (it is a full consensus method, while PoS can achieve only partly consensus and needs some subjectivity, in all its variants), and as a possibility for a relative "fair" coin distribution (compared to ICOs).

So I would be careful to describe it as "obsolete". For me, the discussion between PoW and alternative security mechanisms is still ongoing. It's not that I support theft, but I would really like to see an attack on a big PoS coin (let's say, NEM or Cardano) only to know how it plays out. Wink