Zooko talking about PoS. PoS vs PoW Discussion


#142

I disagree. Let’s examine the POW spending pressure:

  • you have pressure from your current/future hardware investment
  • you have monthly pressure paying electricity bills.
  • you have pressure paying mining pools while mining, 1-2% isn’t that low if you think about it.
  • some others minor issues and expenses…

Analyzing this sell pressure doesn’t do any good for yourself. You don’t buy or use anything of the above for yourself, absolutly nothing of this, neither you paid your taxes with it, nor anything. Even worse, it’s a sell pressure that forces huge amounts of money out of crypto space. Worst case for every crypto believer that thinks a bit more about it.

IF you want crypto to be used, the sell to FIAT pressure must be eleminated in my opinion. Crytpo should stay in Crypto and this would really free up resources/crypto to purchase other things.

Come on, i’am a POW miner myself. Sometimes i think about using my mined crypto and than i have to do the calculation that at current price my investment didn’t ROI yet and that at this price with the current expenses i can’t use that given coin yet… And as said in the post above this, i allready spend daily my POS rewards for other things, absolutly daily, and i’am pretty sure that’s more real spending than most POW miners are doing.


#143

Why would you need to use a VPN? What are you hiding? Sorry I just see the need.


#144

I think he meant VPS, that costs 5$ / month not sure why he would need VPN.


#145

to connect from outside to home?


#146

Sorry, typo, VPS of course, was writting while drinking my morning coffee.


#147


“We began a coordinated disclosure in October 2018 to notify development teams of affected cryptocurrencies ahead of this public release. The majority of them (weighted by marketcap) have already deployed mitigations.”
Heres the paper
180-preproceedings.pdf (109.5 KB)


#148

Thx a lot for this article. Exactly the coins someone anyway should avoid seem to use a copy & paste POS approach, at least more or less without much dev involved.

Only coin that made me wonder being on the list is PIvx, thought they had a better approach on POS than this…


#149

Idea - a second, independent blockchain assigned half the reward that operates a PoR algo like GRC

GRC isnt suitable for a payment system because of long indeterminate block times (due to the meaningful work executed by all sorts of devices taking indeterminate time) but may be ideal for timelocking, also currently incorporates PoS and Zerocash protocol (for account protection from hijacking)
Once released, the reward could be staked or sent to the main chain but no Zcash could ever return (? About this), seems it would incentivize staking while permanently limiting the amount staked as no main chain Zcash can go to chainB (maybe timelock releases to a zb addy, maybe the only that exist for chainB, then the only possibilities are stake or send to a zs only so stakes could never be merged)
The only 51% attack for this system is a stake buyout and if the payouts are equal from point of implementation, then chainB will never have >51% so perhaps disallowing the transference around on chain may be unnecessary or perhaps even detrimental to pools and such idk (or scrap the pools we probably dont need them for this system) https://altcoinwiki.org/en/Proof-of-Research
Thoughts?


#150

Uhmmm, i have some problems understanding the whole thingie, lol. Any chance you describe it easier?

I more or less abondanded the thought ZEC + something POS like as it’s clear by now that something else than pure POW isn’t the target the next 2 years …


#151

It’s described as a standalone pow where basically the results fill the block and the staker’s verify, its security seems somewhat founded in its slowness, things take a while like averaging a workers RAC ( might be the equivalent to a sol rate) which kinda plays into the long term timelocking incentive


#152

I know this (harmony mining) is off the table for NU3 as final approval for it will happen soon (or perhaps already did)