Post
Topic
Board Altcoin Discussion
Re: Bitcoin PoW alternatives?
by
ETFbitcoin
on 17/07/2018, 16:11:38 UTC
are there any efforts being made in order to fight against the ongoing centralization of bitcoin???

There are many, even though none are applied to Bitcoin due to various reason (community consensus, security concern, etc.). Few members on this forum also make an interesting idea such as https://bitcointalk.org/index.php?topic=4438334

With bitmain controlling way more than 40% of mining power and most of mining being in china  Im asking myself if there are any thoughts to actually switch to a PoS or a sort of hybrid system for bitcoin, or have an asic resistant fork that is accepted by the community.

There are many thoughts, but acceptance by community has always been difficult part.

PoS or hybrid (such as PoW & PoS) have security/decentralization concern and IMO there aren't any PoW algorithm which truly ASIC resistance, besides Bitcoin Gold already prove "ASIC resistance" algorithm don't stop centralization or 51% attack.
Furthermore, even though there are various consensus method and various PoW algorithm on cryptocurrency/blockchain world, but there's no consensus method that can't be centralized (at least on theory).