Copyright is the original PoW that ensured the inventor can claim ownership over and reap rewards from the invention. As of today, apart from BSV, any other blockchain which makes use of Bitcoin technology or code are considered counterfeit and illegal.
Proof of Social Media Coin: We should record this cringeworthy BABy idea in the blockchain, so we can monitor as they remove people from their "Hall of Fame" as they switch over to developing on the real Bitcoin! We don't have a HoF, we just have PoW!
Bitcoin governance could be fundamentally flawed. By extension also all PoW based blockchains. Due to insufficient long term incentive by miners. This dysfunction could be caused by lack of scale or lack of understanding, otherwise alternative blockchains will solve these issues.
2/4 - In #PoW consensus #blockchain systems like #Bitcoin, instead of increased security, we see the miners monopolizing the entire network. They monopolize the block rewards, rules of how the system is governed & the direction of network upgrades.
2/4 - In #PoW consensus #blockchain systems like #Bitcoin, instead of increased security, we see the miners monopolizing the entire network. They monopolize the block rewards, rules of how the system is governed & the direction of network upgrades. — Nebulas.io (@nebulasio) March 19, 2019
04-29 13:34 - '10 Years of Blockchain — from PoW to SPoS' (self.Bitcoin) by /u/coin11232 removed from /r/Bitcoin within 0-10min
PoW is no longer a choice for scalable blockchains
It’s been a little over 10 years since the creation of blockchain and Proof of Work (PoW) mechanism by Satoshi Nakamoto. The key innovation of PoW stemmed from the connection between cost and reward, where miners are given mining rewards for their work dedicated to validating the data written into the blockchain. As a PoW blockchain grows, like the Bitcoin Blockchain does, it is becoming increasingly costly for miners to generate blocks. Mining rewards are no longer enough to compensate for the work (e.g. electricity and computational power) spent on the mining process. [[link]2 ''' 10 Years of Blockchain — from PoW to SPoS Go1dfish undelete link unreddit undelete link Author: coin11232 1: m**ium.c*m/vsy*t*ms/**-years-*f-**ock*h*in-fr**-pow-to-spos*ef**7*824d37 2: *edi****o*/*sys**m*/10-years-of-*loc*c*ain-fro*-p*w**o-s*os-ef5a7c824d37]^*1 Unknown links are censored to prevent spreading illicit content.
I think we need decentralized news outlets too. I stopped reading when they said a centralized coin that can be controlled and manipulated by a bank would be more secure than a blockchain based cryptocurrency like bitcoin with all the hashing power and a decade of POW behind it.
A Introduction to Blockchain Consensus Protocols: The first of a series on 5 Consensus Protocols videos, which are all up and available. The entire video series is free and up on my YouTube Channel. A great basic way to understand protocols like POW (i.e. Bitcoin) in a humor filled manner
Bitcoin Air will be the first dual-chain bilaterally operating Blockchain. By forking the UTXO and base of Bitcoin, and merging it with the Hybrid PoS/PoW capabilities of Peercoin https://bitcoinair.org/ #BitcoinAir #AirProtocol #LightAsAir #XAP
Proof-of-work-Blockchain . Berechnung von PoW stellt sich als stochastischer Prozess mit geringer Erfolgswahrscheinlichkeit dar, bei dem eine große Anzahl von Fehlern auftritt. Bitcoin benutzt die sogenannte "Hashcash"-Funktion als Beweis für die geleistete Arbeit. POW is expensive : To set up mining pools is one of the expensive processes, not everyone can do it, so POW can be expensive in popular and high demanded coins like Bitcoin, because miner needs more power and hardware to mine a huge amount of transaction. POW makes Blockchain centralized : Proof of Work (PoW) ist ein weit verbreiteter Konsensmechanismus, der z. B. für Bitcoin genutzt wird. Er soll dafür sorgen, dass alle neuen Transaktionen durch Teilnehmer der Blockchain validiert werden, bevor sie dem Netzwerk hinzugefügt werden. Diejenigen Teilnehmer, welche an der Validierung arbeiten, erhalten dafür eine Belohnung. Proof of work (PoW) is a piece of information that is complex (time-consuming, expensive) to produce to satisfy particular conditions.Verification of that information however should be as easy as possible. The purpose of PoW (Proof-of-work algorithm) is to check if calculations were indeed conducted during creation of a new block of cryptocurrency. POW blockchains consist of a distributed node network. A node is a computer running and maintaining the latest version of the blockchain. The Bitcoin blockchain has over 9,000 nodes globally. Some of these nodes add new blocks to the blockchain through a process known as “mining”. In order to add new blocks, miners guess random numbers ...
Bitcoin Mining 2019 Blockchain Proof of Power - YouTube
This short video explains the concepts of Proof of Work (POW) and Proof of Stake (POS) in the Bitcoin terminology. for more information visit http://99bitcoi... An explanation of cryptographic proof-of-work protocols, which are used in various cryptographic applications and in bitcoin mining. More free lessons at: ht... #blockchain #ProofOfwork #PoW SUBSCRIBE FOR MORE HOW MUCH - http://shorturl.at/arBHL GekkoScience NewPac USB Miner - https://bit.ly/2RIQgdX GekkoScience 8 Port USB Hub - https://bit.ly/2x... Cryptocurrencies use a ton of electricity because of mining. In recent years people started working on a different technique called Proof-of-Stake. Not only ...