Tag: consensus mechanism

May 26 2022

Proof Of Work Vs. Proof Of Stake: Why Bitcoin Won’t Change

As politicians and environmentalists have argued Bitcoin should move away from proof of work, they miss what makes the network so innovative.Bitcoin’s consensus mechanism, proof of work (PoW), tends to bring about divisive opinions in society. While some argue it is a core aspect of Bitcoin’s success, others claim the network would retain most of its properties while reaping new benefits if...

Apr 28 2022

Bitcoin Ignites The Impulse For Social Justice Movements

Bitcoin’s decentralized public ledger dismantles current oppressive financial tools by providing people a tool of empowerment. Bitcoin leaves no one behind.In recent years, controversy around critical race theory (CRT) has sparked fierce political debates across America. On the education front, surrounding issues of teaching...

Jan 15 2022

Why Proof-Of-Work Is A Superior Consensus Mechanism For Bitcoin

The proof is in the pudding when it comes to Bitcoin’s proof-of-work mechanism versus a proof-of-stake consensus mechanism debate.There have been countless arguments surrounding both the proof-of-work (PoW) and proof-of-stake (PoS) as a means of gaining consensus on a blockchain network. Many people have been asking themselves which one is better, and why? In this article, I'll go over some of the...

Nov 23 2021

TALKING HEADS: Do You Consider The Lightning Network A Proof-Of-Stake System?

It’s time to find out what the protagonists have to say. In TALKING HEADS, Bitcoinist will ask the experts about the cryptoverse’s overarching themes and latest news. This time, we have an all-star cast that’s as diverse as the times we’re living in. Prepare to have your mind electrified by these talking heads’ ideas and reasoning. Related Reading |...

Sep 12 2021

Delegated Proof-of-Stake: Can We Be Free Under A Benign Master?

The consensus mechanism used by Bitcoin is the only way to ensure true lasting freedom.Delegated proof-of-take (DPoS) is a fundamentally different consensus protocol from proof-of-ork (PoW). The difference between the two presents itself in the kind of freedom they promote; while DPoS is freedom under a benign master, PoW is freedom from domination.What Is Freedom?Freedom can be understood in...

Feb 12 2021

Discussing Bitcoin Softchains, Sidechains Using PoW Fraud Proofs

Ruben Somsen joined "The Van Wirdum Sjorsnado" to discuss the pros and cons of his softchains proposal....

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