Ethereum is currently adopting a Proof of Work (POW) method, and the Ethereum Foundation and development team have been told that they aim to change it to a Proof of Stake (POS) method later. What is the difference between the two ways and when will it change?
Source: https://stackoverflow.com/questions/33802343/when-will-ethereum-switch-to-proof-of-stake This question is authorized to change the same condition (Available under the https://creativecommons.org/licenses/by-sa/3.0/deed.ko ) license.
ethereum
Currently, Ethereum uses a "Proof of Work" mining method. This is how miners use graphics cards to match random numbers before anyone else gets them right. Each inference is based on the Ethereum trading books of the past, so the "vote" that miners do will soon determine the "right" chain. It is economically good for miners to infer based on the "right" chain because they are not rewarded if they make inferences based on the "right" chain. This is the key to keeping the books untouched.
The downside of PoW is that it requires a huge amount of energy because you have to turn your graphics card around 24 hours a week. Proof of Stake (PoS) is a different type of mining based on Ethereum shares. Depending on the hash power of the graphics card, you don't have miners predicting the next block, you have miners decide based on their Ethereum stake. You no longer need a graphics card.
Ethereum is currently a PoW method, and it will be changed to PoS in mid-2016, but it will be difficult if miners like the competitive system as of March 2018 (actually, it is still a PoW method) This article was written in 2015 and has this reply.)
The main developer who proposed the Proof of Stake algorithm (CASPER) is Vlad Zamfir. His radio interview is here https://www.reddit.com/r/ethereum/comments/3t2cph/vlad_zamfir_bringing_ethereum_towards/ and the slide material published by DEVCON day 1 is https://docs.google.com/presentation/d/1bV_vXJBko-DmhAgnOFYg8ZNbAvCZCZrlf0KBFPqwVIw/edit Here you go (Devconday 1 video has been deleted from YouTube for some reason).
Correction: Ethereum did not enter the Homestead phase until March 14, 2016, and still has the Metropolis phase and Serenity phase to go to the final phase of PoS. Therefore, it seems impossible to be replaced by PoS in mid-2016. I'll leave here an announcement about the stage three years ago. Information on my correction is available in this link: https://www.reddit.com/r/ethereum/comments/2xsin2/the_ethereum_launch_process_vinay_gupta/
© 2024 OneMinuteCode. All rights reserved.