Quote from: chaoscoinz on January 08, 2020, 12:01:17 PM

I think that proof of work is starting to become obsolete, proof of stake is better and delegated proof of stake seems to be the top contender. I know Bitcoin is the foundation but I think in the future better algorithms will come and replace both proof of stake and proof of work. You also have Byzantine Fault Tolerance and proof of weight. I think the best consensus algorithm is delegated proof of stake, Tron and EOS seem to have the most Dapps on the market and receive the most support.

Hi chaoscoinz,

I respectfully want to point out to you that the reason Proof of Stake, BFT, Proof of Weight, DPOS appear attractive relative to Proof of Work to you, is because you have not really studied any of them.

A signature-based security model can be fine in a limited group. In contrast, a digital currency's blockchain is public and open. Proof of Work means a connection with reality, a reality proof. Meanwhile cryptographic signatures are free and outside of a specific context don't prove anything.

Regarding PoS please see https://github.com/libbitcoin/libbitcoin-system/wiki/Proof-of-Stake-Fallacy and https://nakamotoinstitute.org/static/docs/on-stake-and-consensus.pdf . PoS has a "proof of nothing" issue which makes it impossible to sync PoS chains from their genesis block. In other words, there is no security at all.

Also EOS is a billion dollar scam, and Tron according to its founder is a shitcoin.

Just wanted to help you get these clear. Glad to see you in this space, always keep learning,

Asterisk

a.s.t.e.r.i.s.k

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