Post
Topic
Board Bitcoin Discussion
Merits 1 from 1 user
Re: Proof of Stake (PoS) Discussion
by
BlackHatCoiner
on 05/10/2024, 09:48:41 UTC
⭐ Merited by d5000 (1)
How does Proof of Stake (PoS) improve scalability compared to Proof of Work (PoW)?
If by "scalability", you refer to the ability to handle a growing number of transactions efficiently, then it does not.

Quote
What are the environmental advantages of PoS over PoW, particularly in terms of energy consumption?
It is very difficult to succinctly summarize this in a few words, but here's by best attempt: Proof-of-Stake requires no energy, so there's little to say about that. Proof-of-Work, however, is an interesting mechanism. While it does require the consumption of decent amount of energy, it also incentivize on the development and adoption of cheaper energy, like renewable. So, even if both mechanisms produced the same result (which is not true, as Proof-of-Stake is fundamentally flawed), Proof-of-Work may be a net benefit for the environment.

Quote
How does PoS contribute to network security?
Those with the most coins need to be trusted on not attacking the network, or need to be trusted on properly protecting their coins in the scenario of a hacker compromising them, and using their votes for his advantage. Pretty much worse security than Proof-of-Work. Also, the "vote pie" can be divided into more pieces, as long as those with the most coins are willing to sell them.

Quote
Can a malicious attack be carried out under this consensus?
A malicious attack can be carried out regardless the mechanism.

Quote
What role do validators play in PoS, and how does staking align their incentives with the network’s stability?
AFAIK, validators just use their coins to vote on the order of the transactions. The incentive is that, those with the most coins, would rather have the network stable, and not attack it, as that would undermine their wealth.