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xBDT Script

Which one is better? PoW vs PoS? Discussion

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Both the process PoW and PoS are different has their own benefits. This is not a debate though. Let me share some insights which is my personal observation. I may be wrong as well because I am not much into these mining activity.

Cost Effectiveness-
In term of mining cost, PoW required a lot of equipment as well as a lot of electricity is consumed in the mining process. On the other hand, in PoS system, you don't need much equipment and the electricity is not much needed as proportion with PoW.

Waste of resources-
In PoW, a lot of miners try to solve puzzle at once to get the block reward but not everyone gets it, but everyone has the cost of electricity, electricity is wasted here. On the other hand, with PoS, depending on your stake weight, algorithm will choose a random node. So, not much resource is being wasted here.

There are a lot of reasons where PoW is good but PoS is not, and vice versa. Feel free to share some more basic differences between both these.

Edited by xBDT Script

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2 hours ago, Iv4n said:

Now mining equipment can be expensive, add to that electricity, and you will have some big expenses before you get first coins. Depending on mining equipment there will be some ROI, so you will have to keep that miners running for months before you get in some profit, all that time you will need to pay for electricity from your own pocket.

PoS is easier, all you need is a wallet and of course starting investment in coins. You fill your wallet with those coins and that`s it. Some wallets stake even offline, while some asks for wallet to run in order to stake.

About decentralization nature of PoW, I agree that's true although there are a lot of debates on it that PoW is not that decentralized as people speculate it.

But have you noticed that we are wasting a lot of our resources with PoW? You may or may not get block reward but you have to continue, a lot of people will try and one will get which wastes the other resources used by miners who don't get reward, in PoS, it's not happening.

I am not really aware of offline wallet staking, please name some. I would appreciate.

2 hours ago, alther said:

PoS production can sometimes reach billions of coins which can make the price drop. Unlike PoW which generally limits the number of coins so that the impression is limited.

PoS doesn't mean that the supply of the coins will be limited, there are a lot of PoS coins with limited supply. It depends on the creator of a coin.
 

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I think POW is better. Because Pow is well-tested and used in many cryptocurrency projects. The PoS algorithm provides for a more scalable blockchain with higher transaction throughput, and a few projects have adopted it.  And it's less secure than the completely decentralized Pow algorithm.

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I still think that POW is better than POS, the only difference is that for POS you will only get coins if you store your coin wallet, but for the process both POS and POW need a device that is active 24 hours to be able to process transaction blocks

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in 2015-2016 PoW coins and PoS coins were very popular. i always mined PoW coins that its wallet is supported to stake it. but since ICO goes hype, it's hard to find this kind of coins. there were ICO everywhere.

Edited by I-KUN

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Pow is better than pos to me. in proof of work there may need high performance device and also need high electricity consumption but pow is better than proof of stakes.

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POW is completely decentralization and more secure than POS. But pos has higher transaction throughput because of which it will be successful for long term over pow.

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On 10/31/2019 at 1:41 PM, xBDT Script said:

Both the process PoW and PoS are different has their own benefits. This is not a debate though. Let me share some insights which is my personal observation. I may be wrong as well because I am not much into these mining activity.

Cost Effectiveness-
In term of mining cost, PoW required a lot of equipment as well as a lot of electricity is consumed in the mining process. On the other hand, in PoS system, you don't need much equipment and the electricity is not much needed as proportion with PoW.

Waste of resources-
In PoW, a lot of miners try to solve puzzle at once to get the block reward but not everyone gets it, but everyone has the cost of electricity, electricity is wasted here. On the other hand, with PoS, depending on your stake weight, algorithm will choose a random node. So, not much resource is being wasted here.

There are a lot of reasons where PoW is good but PoS is not, and vice versa. Feel free to share some more basic differences between both these.

Thanks for your info. I didnt know about it. But now that you have told me, I would look into it. 

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On 11/22/2019 at 3:10 AM, Aceventura said:

I think POW is better. Because Pow is well-tested and used in many cryptocurrency projects. The PoS algorithm provides for a more scalable blockchain with higher transaction throughput, and a few projects have adopted it.  And it's less secure than the completely decentralized Pow algorithm.

I agree with you POW is better rather that PoS because PoS is really complex i mean both of them are but POW is really easy to analyze and navigate.

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I know both PoW and PoS are popular. In my opinion, PoW is better than PoS. It's just that I feel PoW is safer, its profit is higher so I feel it's better.

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I prefer POS and I also think I will choose it. I also had a confusion between POW and POS, but I chose POS, I found it more secure and cheaper.

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Finally, I will then explain why I believe Proof of Stake is a much better model than Proof of Work, as well as giving some real-world examples of each model.

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I think pos coins are much better. We need to reduce our energy consumption to protect the environment pos coins are consuming more energy than many countries today.   Use pos coin for nature

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On 10/31/2019 at 8:41 AM, xBDT Script said:

Both the process PoW and PoS are different has their own benefits. This is not a debate though. Let me share some insights which is my personal observation. I may be wrong as well because I am not much into these mining activity.

Cost Effectiveness-
In term of mining cost, PoW required a lot of equipment as well as a lot of electricity is consumed in the mining process. On the other hand, in PoS system, you don't need much equipment and the electricity is not much needed as proportion with PoW.

Waste of resources-
In PoW, a lot of miners try to solve puzzle at once to get the block reward but not everyone gets it, but everyone has the cost of electricity, electricity is wasted here. On the other hand, with PoS, depending on your stake weight, algorithm will choose a random node. So, not much resource is being wasted here.

There are a lot of reasons where PoW is good but PoS is not, and vice versa. Feel free to share some more basic differences between both these.

proof of stake is way better than PoW, for the reasons that you already mentioned but also because anyone can run a node or just take part to blockchain by voting a node. and you also earn some coins while staking. so PoS wins without any doubts 

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On 2/22/2020 at 8:47 AM, kadayakito said:

I prefer POS and I also think I will choose it. I also had a confusion between POW and POS, but I chose POS, I found it more secure and cheaper.

Wow, you are wrong. 

How is OOS cheaper than POW. Miners are miners, you will still have to buy miners. Even in POS, you need to stake. Also POS is not secured than POW. Do mot even talk about security this time. 

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On 3/19/2020 at 7:21 PM, Rickso said:

proof of stake is way better than PoW, for the reasons that you already mentioned but also because anyone can run a node or just take part to blockchain by voting a node. and you also earn some coins while staking. so PoS wins without any doubts 

I also agree that proof of stake is only cheaper but as for the better you talked about I prefer POW, all I need I to get good miners to mine profitable cryptocurrencies. 

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