Tx 89916d4eecfa9f35c52ed10480ce855d81c3ff66@57828097
Included in block
57,828,097
at 2021-09-28 20:35:03 (UTC)
Raw transaction
| ref_block_num | 25,327 |
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| ref_block_prefix | 2,801,456,190 |
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| expiration | 2021-09-28 20:44:57 |
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| operations | | 0. | | 0. | comment |
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| 1. | | parent_author | "" |
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| parent_permlink | hive-167922 |
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| author | bitcoinflood |
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| permlink | is-the-age-of-pow-over |
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| title | "Is The Age Of PoW Over?" |
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| body | ".png)
<h1>Is The Age of PoW Over?</h1>
I think we can all agree that PoW benefits that use to be there many years ago are no longer in play and that PoW has become very resource intensive and wasteful. Now I wont get into the whole pollution thing and all of that but I will firmly agree with people that it's extremely wasteful!
Once there was a day where you could turn on your own computer and mine a bit with your CPU and GPU and get a decent chunk of a proof of work coin like bitcoin. However as soon as ASIC came on board that went out the window and all we have seen since then has been narrower and narrower amount of people that own control over the mining via pools.
Unless you have free energy and unless you have a few thousand dollars laying around you don't care about you're simply not going to compete or be profitable against all of these mega companies who are buying thousands of miners for every one of yours.
To me this is Unfortantlly because I love the fact before that anyone with a PC pretty much had equal chance to mine some bitcoin or another Proof of Work crypto. It made wealth spreading and also security of the network so much better having thousands of unique people instead of a few hundred at best companies.
### Proof Of Stake
At first proof of stake sounds great you stake your crypto in exchange for securing the network with your own computer and when you're selected for a block you get the full reward!
In fact I run a $300 computer that uses 13 watts a hour to power over 7 proof of stake coins right now and it's quite and energy efficient.
The major drawback however is the more tokens you hold the better chance you have at getting the reward. What ends up happening in these cases are only the wealthy get to stake as they buy more and more coins or early adaptors.
This also seems to be the way Ethereum is headed and I hope not instead I would like to see more of the following.
### Delegated Proof Of Stake
With the DPoS system anyone can take part and earn their fair share. Have 10 tokens or 1,000,000 you both still earn 6% or so on those tokens. Sure you may get a larger piece of the pie but you've also invested more money and effort into the platform and so you should be rewarded for it.
By using your tokens you can stake them for a period of days and delegate out to what person or company you want to be in control of the network.
This is a more even playing field however there is still one big issue with this. Nearly no one pays attention to who they are voting for and what they are up to. Instead they just stake and collect their rewards.
So what's the next optimal?
That's still something we are trying to decide however there are innovative ways people are attempting to now do this. Such as ADA Cardano and other Proof Of Stake systems with delegation and securing of the network.
What method do you like the best or what method do you think would be better then DPoS?
Posted Using [LeoFinance <sup>Beta</sup>](https://leofinance.io/@bitcoinflood/is-the-age-of-pow-over)" |
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| extensions | [] |
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| signatures | | 0. | 200a774e5a94ade26fc11b0e2b463585136e925b294ffbd74e0e40c4a5469620ac1bcd45eea6cb42e4c9fe4a3ee45bcfdb5780132434ccd73d58de7b1abb37b463 |
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| transaction_id | 89916d4eecfa9f35c52ed10480ce855d81c3ff66 |
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| block_num | 57,828,097 |
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| transaction_num | 27 |
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