Quote from: avikz on Today at 02:08:02 PM

Quote from: Oshosondy on Today at 09:13:32 AM

Quote from: avikz on Today at 07:18:13 AM

It all depends on the algorithm itself. If the developer of a coin wants to implement POS algorithm, you will be able to stake. For example, ETH is now a POW coin so you can mine it. But in 2022 (hopefully) they will be moving to POS mechanism, so you will be able to stake the coin and won't be able to mine it using your computing power.

What many people were hopeful about ethereum 2.0 was that people will be able to stake ethereum and also pay low transaction fee, but now still getting longer and ethereum fee is very high like nothing has been changed. Let us hope ethereum will finally move to PoS by 2022, but just that PoW is far better than PoS as the equipment used for mining are bought and help the companies producing the equipments to also gain unlike PoS that only deals with staking, also that electricity companies are also paid to produce more electricity, PoW helps in the progrey of these companies.

But that high electricity consumption from POW mining has become a weapon for the environmentalists. Whenever the bad side of POW is discussed, electricity consumption and increase carbon emissions remains the top concerns amongst others. So I personally think that POS is far better than POW.

POS may be better in some aspects but there's no doubt that POW is much more secure than POS. The only vulnerability to POW is 51% attacks, but for a completely decentralized network such as Bitcoin itself, it's nearly impossible for one group to have 51% hashing power of the network. Whereas in POS it's far easier to just buy a majority of the coin on a network, become a validator, and validate fraudulent transactions.

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