Quote from: Vishnu.Reang on Today at 04:58:15 PM

Quote from: kokojie on Today at 03:32:24 PM

I think Elon Musk is right, and I agree with him. PoW is the cancer of Bitcoin, and it needs to go away, or Bitcoin will die with it.

Proof of Stake is the way to go for the future. There's a reason why Ethereum is undertaking huge amount of development risk and pow miner backlash to move away from PoW into PoS.

You have no idea about the issues that are present in PoS coins. There is a reason why almost all the top cryptocurrencies use the PoW algorithm. PoS is vulnerable to manipulation and those who enjoy the majority stake can gang up and do whatever they want, ignoring the requests from the community. With PoW, doing so is near impossible. And also, try to find why Ethereum delayed the shift from PoW to PoS repeatedly. They had to postpone it indefinitely, because the best developers still don't have the confidence to make the PoS algorithm risk-free, despite working on it for many years.

I'm not talking about how hard it is to convert from a PoW crypto into a PoS crypto, I know it's hard, especially in a extremely complex system like Ethereum. I'm talking about WHY they are still going ahead and doing it, despite such big development risk and effort.