Why was the title changed from the accurate actual title of the article? It is neither misleading nor linkbait.
Ethereum Plans to Cut Its Energy Consumption by 99 Percent
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Re: Ethereum Plans to Cut Its Energy Consumption by 99 Percent
#12We’re cobstantly dealing with environmental issues and global warming yet burn incredible amounts of energy and carbon compared to the value this gives us. It would probably be more environmentally friendly to not use crypto currencies then to stop using all the electricity you do each day...
Just goes to show how short sighted some people can be. Make money now, or give up that chance so future me or my possible future kids might have a slightly better world to live in. Now multiply that by a lot and- it's hard.
Re: Ethereum Plans to Cut Its Energy Consumption by 99 Percent
#13We’re cobstantly dealing with environmental issues and global warming yet burn incredible amounts of energy and carbon compared to the value this gives us. It would probably be more environmentally friendly to not use crypto currencies then to stop using all the electricity you do each day...
Just goes to show how short sighted some people can be. Make money now, or give up that chance so future me or my possible future kids might have a slightly better world to live in. Now multiply that by a lot and- it's hard.
To many people, the world in which they have more money is probably the "better" world to live in, even if that world as a whole is less healthy.
Re: Ethereum Plans to Cut Its Energy Consumption by 99 Percent
#14Why was the title changed from the accurate actual title of the article? It is neither misleading nor linkbait.
Note that only the word “absurd” was removed.
Re: Ethereum Plans to Cut Its Energy Consumption by 99 Percent
#15We’re cobstantly dealing with environmental issues and global warming yet burn incredible amounts of energy and carbon compared to the value this gives us. It would probably be more environmentally friendly to not use crypto currencies then to stop using all the electricity you do each day...
Just goes to show how short sighted some people can be. Make money now, or give up that chance so future me or my possible future kids might have a slightly better world to live in. Now multiply that by a lot and- it's hard.
You assume that the people that use cryptocurrencies also tend to be the people that want kids.
Re: Ethereum Plans to Cut Its Energy Consumption by 99 Percent
#16I wonder how it compares to Cardano's Ouroboros proof-of-stake system.
Compared to PoW almost every PoS protocol is only going to marginally differ wrt power usage. As for other metrics my bet's on Cardano but right now it's anyone's game.
Re: Ethereum Plans to Cut Its Energy Consumption by 99 Percent
#17Some good criticism of PoS in @TuurDemeester's thread from last week: https://threadreaderapp.com/thread/1078682801954799617.html
And HN discussion: https://news.ycombinator.com/item?id=18780489
Re: Ethereum Plans to Cut Its Energy Consumption by 99 Percent
#18I want to write a snarky or skeptical comment about how it's probably going to fail, but honestly I kind of love the way Proof of Stake works.
Instead of mining, those who want in put down a stake of ether that they can mine it and get a better chance of winning based on the size of the stake. If they get caught cheating, they lose their stake. There probably going to be some fun when the first serious exploits happen (oh shoot, what happens if someone does [whatever]?) but I think the premise is solid enough that it's worth trying.
I do still have serious concerns over things like the DAO hard fork and the expectation that non-expert developers can or should be writing smart contracts, etc. Ethereum isn't perfect. But if they can provide the same service without the need for mining, all the power to them.
Re: Ethereum Plans to Cut Its Energy Consumption by 99 Percent
#19Earlier quoted context omitted.
It is, and exactly these kind of experiments are what crypto cryptocurrencies should be about.
That's not true. Pure, non hybrid PoS has never been deployed on any crypto at scale. The fact that Ethereum is on their 3rd iteration and still can't figure out how to make it work years after promised delivery should be alarming at least.
They changed from the previous version because they figured out how to have ten times as many shards, lower the minimum stake from 1500 ETH to 32 ETH, and remove code duplication that the previous version would have required.
It's incorrect to say they "can't figure out how to make it work." They figured out one way, then a much better way. Right now they have a near-complete spec; the remaining changes are small optimizations. Eight independent teams are working on implementations in various languages.
Re: Ethereum Plans to Cut Its Energy Consumption by 99 Percent
#20Earlier quoted context omitted.
That's not true. Pure, non hybrid PoS has never been deployed on any crypto at scale. The fact that Ethereum is on their 3rd iteration and still can't figure out how to make it work years after promised delivery should be alarming at least.
Is Tezos not pure PoS?
Tezos uses delegated PoS, so no, I don't think it qualifies. D-PoS is sort of antithetical to the idea of decentralized blockchain due to a small number of nodes and very questionable process of node (witness) selection.