Proof of Work vs Proof of Stake: What's Better? | 3-min crypto 

For sureee

Yes please, Excellent!

Yes!!!

Matt Damon only

This was an excellent video, simple yet in depth! Great job coingecko, keep up the good work!

Either way, you need fiat. Banks control currency. Governments and companies lend from Banks. Governments and companies pay employees. Employees buy crypto and transact. Crypto miners buy hardware. Hardware company pays the Bank with Fiat. This is because the Bank will not accept payment in a form it does not control (i.e it must be in fiat). You see how this is pointless? And even if you replace the Bank with a Crypto Bank, you still have Centralization, be it with coin or in compute. Fiat is the way. It is way, way less resource intensive than Crypto. Crypto is a humungous drain on the Grid for a service that is already provided.

@@seer775 In 2021 Nasdaq published an article whereby the banking system was estimated to consume approximately 260TWh/yr of energy. Currently, the Bitcoin network is estimated to consume 143TWh/yr of energy. Other networks that run more modern consensus algorithms run orders of magnitude more efficiently than Bitcoin. The Ethereum network is estimated to use 99.9% less energy than Bitcoin, in April 2023 CoinDesk estimated that the consumption of the Ethereum network would be approximately 6.5GWh/yr a shocking 0.0025% of that which banks use. There are crypto networks such as Avalanche that run even more modern consensus engines and therefore use even less energy still while maintaining security. Avalanche for example has already reached net-zero emissions. Next time I suggest doing some research before talking out your ass.

True

This is a good one. Has been wondering the difference of bitcoin and ethereum at fundamental levels. Knowing this, so basically bitcoin is like early day capitalism (more means of production will make you powerful) while ethereum is kinda like modern capitalism (more currency you have will make you powerful)

The security of either anti sybil deterrent is ultimately determined by the cost to attack and roll back blocks leading to a double spend. There's nothing inheritantly stopping the cost to attack in proof of stake from being higher than the cost to attack in proof of work. Actually due to liquidity constrains on crypto markets it would cost substantially more to acquire enough tokens in proof of stake than it would be to acquire enough compute power in proof of work for two crypto projects with the same fully diluted market cap - so your claim that bitcoin is more secure is actually missfounded. The truth is, it depends what you're comparing it against. Many proof of stake networks already have higher costs to attack than bitcoins, although they use newer consensus algorithms and anti sybil mechanisms such as "avalanche consensus" and "proof of stake" respectively. These are technically very secure however they have not yet been tested for 10+ years in free market conditions like nakamoto consensus and proof of work has been.

@@PvMLad pos attacks can either cost more, or less. which is useless. markets can be manipulated. stakers can come and go because no skin in the game. pos will fail if it grows bigger.

@@CG-uy6nk pow attacks can either cost more or less, which is useless. Markets can be manipulated. Miners will come and go because variable block rewards don't always pay energy costs. pow will fail when the block rewards are outweighed by the profits from an attack.

​@@PvMLad no because you can't manipulate the cost of energy like you can manipulate the price of a token or just steal it. pow 1 pos 0. miners that invested machines and energy will be incentivized to do their best to compete and become profitable because they've invested real valuable ressources initially. pow 2 pos 0. a 51% attack isn't supposed to be profitable in any consensus type. pow 3 pos 1.

@@CG-uy6nk Energy prices being manipulated or not is not a factor. The only thing that matters is if a dishonest actor can make more money with an attack than they can by being honest and farming block rewards either via mining (pow) or minting (pos) of new tokens. Attackers will prioritise profits regardless of morality. okay miners are incentivised to be efficient, so what? Stakers are too. Moot point. 51% attack is both possible and profitable against bitcoins consensus "nakamoto consensus". Against modern consensus algorithms such as "Avalanche consensus" it's neither possible or profitable as the attack threshold is more like 81%. Pow/pos are not consensus algorithms, they are Sybil deterrents, as I explained in my original comment.

Definitely not more decentralized. Mining pools make it centralize.

ERG is a better useful PoW coin.

hahahahahaaaaa

Man is talking the truth

Math by rich people investment,, both can manipulate by richer

even you trust in math, bitcoin already be manipulated by sharps and whales

The new Pow tech it’s bringing to the blockchain is never seen before being able to handle multiple blocks at once instead of being linear is excellent utility. Kaspa it is.

Glad you enjoyed it! More awesome videos coming your way!

The creator of the video greatly misunderstood. There are several publicly traded bitcoin mining companies who are very profitable. Proof of work mining incentivises miners to seek abundant and low cost energy sources, increasing energy availability for the whole world and driving the cost of electricity down.

What's POR?

PoS. PoW is like a human that can't spell.

@@Taipan303 pow. POS is for suckers that want to get rugged

The problem with your argument is that you don't consider the economic differences. In pos, the rich don't have to spend any money to get richer. In pow, the rich have to buy hardware, keep it running, house it, pay staff to maintain etc. All this economic activity is an expense that contributes to the economy and gives the commodity a base value. PoW is real. PoS is a scam.

It's whatever ETH is since it runs on the ETH blockchain...which his now POS.

If you ever want to know the consensus of a coin/token, go to coin checkup and find it. After you find the coin, along the top select analysis. Then select coin facts and figures. The consensus method is the 9th thing listed.

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Ох, это вопросы к Буталику Витерину

Yes

You dont know what you are talking about.

So long as carbon exists - which it always will - Coal has an Infinite supply.

@@atleticofa he's doesn't realize most cities still run on coal. What a clown. No wonder he's pro-POS lmfaoo

🤡

I like the pow security but man pos is faster and more scalable

@@noggfresh Time will prove me right

@@jirikulach9005 time has already proven you wrong multiple times. Esp ETH bc of failure upon failure. Your hopes of POS saving them will be proven again. As another failed attempt to bring success to ETH's garbage blockchain. (Btw laser eyes are displayed because of faith in BTC/POW take those eyes off ya pfp , poser!)

@@noggfresh Ok .. the main thing is that we all invest only our money. So I don't really care what anyone thinks .. I don't need to convince anyone ..

🤡

@@noggfresh USA 🤡

@@noggfresh the US nation is a warlord nation. no problem, send me BTC to my wallet i support both.

@@AssaultUPC wtf does my response have to do with the US? Imbecile? You have no rebuttal? I knew you were a 🤡 thanks for the proof!

@@noggfresh rebutal, i dont speak so good english. Can you speak russian? Can you send me btc?