Post
Topic
Board Bitcoin Discussion
Re: Issues with Proof-of-Work
by
NotATether
on 31/01/2023, 12:00:53 UTC
Is the crypto/blockchain community not open to new type of consensus? It seems like POW and POS just keep getting updated rather than addressing the real issue and switching base mechanisms. Do others just not see issues with POW or POS?

What other option is there, really?

In order to see whether another consensus algorithm will work out, it's gotta be shoved into a top 5 (not even 10) cryptocurrency on CoinMarketCap and then we see how the coin performs. Not in terms of price, but in activity. The problem with that is that most altcoins have too small of a userbase for any novel consensus to be truly seen under the microscope.