Post
Topic
Board Altcoin Discussion
Re: POW and POS, which is better?
by
Mariahenry86
on 10/08/2018, 08:49:43 UTC
I encourage more POS because:

- PoW can't be used on small and weak devices such as smartphones. These devices not only lack the space to store hundreds of gigabytes of blockchain data but they also do not have enough computing power to dig effectively. Phone battery will run out very fast but not really accomplish anything.
- PoW is very slow. With Bitcoin, every 10 minutes a block, and only transactions in that block are processed. Everything else must wait for the next block. The consequences are long waiting times or expensive transaction fees (higher transaction costs are processed faster).
- PoW is consuming a huge amount of electricity. Only one single block has consumed more electricity than the demand of some countries for a whole year. This will only get worse. The dependence of pre-coding on electricity is unsustainable in most stable environments. This dependency also means that higher electricity bills or government-imposed limits on types of electricity can "kill" an entirely digital currency.