If proof of stake was to use only 1% of processing power where proof of work would have used 100%. What prevents people from running 100 times more proof of stake nodes?
this post was submitted on 01 May 2021
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to use only 1% of processing power where proof of work would have
Each validator is required to lock up 32 eth. If the validator miss-behaves they will lose some of there deposit (or all depending on the violation).
Now 32 eth is a lot of money, most ppl don't have that much. But if you have less you still help participate in securing the network and transitioning to PoS. There is a decentralized staking pool, lido that allows multiple ppl to pool together there eth until it reaches a multiple of 32 which is then bound. There are also centralized pool that allow you to do the same but you need to trust whatever entity that is running the pool. So I think contributing to centralized pool doesn't necessary contribute to the decentralization and security of the protocol.
Ethereum is still pow, everything else is just speculations. Btw market is full of smart contract platforms utilizing pos already, like tron for ex... So no need to promote ethereum, you can create wrong picture for people new to crypto.
Yes ETH is still half pow (the beaconchain is running) but pos on ETH is making solid progress. For example, There is a pos only testnet now. I would except to pos on mainnet late q4 early q1 next year.
As for Tron and the likes (bsc, eos, ect) are all base off dpos, which can only support a few number of validators making them questionable when it comes to their claim on decentralization. There are few others projects that are interesting though for example avalanche.
As for creating the wrong picture for ppl new to cryto... ETH is in my opinion the best place to get started. Tron is a scam that is ran by sociopath. Eos is worse. I defiantly don't want to create the wrong picture by leading ppl to use a platforms that have no value when it comes to decentralization and only exist to make their founders rich. I'm also most comfortable talking ETH, since I know it fairly well.
Factually ETHEREUM is pow, it not half pow half pos, whole operations are depending on pow consensus mechanism. Period.
Any interactions with ethereum from sending eth to calling smartcontracts are depending on pow and miners and energy waste.
Facts are objective, and not rely on your personal sympathy.
What you are doing is promoting one of coins by providing misleading information.
What is considered a waste is also subjective and a personal sympathy as well. You can indeed send ETH without pow although its still just testing. Pow is on its way out. period. How am I being misleading?