Ethereum: Why can’t Bitcoin go to gridcoin evidence of the work system?
Discussions on Ethereum and its possible transition from the POW (POS) certificate has been underway for some time. Although the two systems have their own unique advantages and disadvantages, there are several reasons why Bitcoin, the first decentralized cryptocurrency in the world, may not be able to go to the Pow Gridcoin system.
GRIDCOIN VS POW: The most important differences
Before the reasons for our dive, why Bitcoin may not adopt the Pow Gridcoin system, quickly examine the key differences between the two systems:
* Work certificate (POW): The nodes of the POW system are in competition to resolve complex mathematical puzzles to validate events and create new parts. The first resolution of the puzzle will add more to the block chain of the new block and will be rewarded with a newly struck cryptocurrency.
* Storage (POS): POS system chosen to create new blocks according to the amount of cryptocurrency they keep on their wallets. Validators with more parts are more likely to be selected.
Proposed system of Gridcoin
GRIDCOIN, as mentioned above, is an open source community platform aimed at providing a competitive reward mechanism to participate in various projects, including a BOINC (non-Professor Organization Housing Seti @ Home and Pling @ Home Projects). Gridcoin’s proposed system includes a time -based cost combination and memory -based awards to encourage participants.
Why Bitcoin may not change
There are several reasons why Bitcoin may not be able to change:
* Stability and security: POW is widely considered more stable and safer than POS because it reduces the probability of centralization and guarantees that new parts cannot be created with the carpet or other forms of manipulation . The proposed system of Gridcoin, on the other hand, is strongly invoked in time -based rewards, which can be exposed to the use of harmful actors.
* Evolutionary: The two systems have changes in scalability, but in different ways. POW is limited by the number of available calculation units and the complexity of mathematical puzzles necessary to resolve them. POS, although it is less energy than POW, there are still challenges linked to scalability and conviviality.
* Safety advantages: The consensusalithm of the Bitcoin work certificate has existed for more than a decade and has experienced many hard forks (for example, Bitcoin Cash, Bitcoin Gold) to improve its safety. Gridcoin’s proposed system is based on time -based rewards that may not provide the same security as POW.
* Community support:
Although Gridcoin has received a certain grip in the cryptocurrency community, he still does not have the generalized adoption and support from which Bitcoin benefits.
conclusion
Although the two systems have their own advantages and disadvantages, there are convincing reasons for which Bitcoin may not be able to enter the gridcoin worktop. The stability, security, scalability and safety benefits of POW make it an attractive option for many developers and users. However, lack of community support and potential vulnerabilities for the abuse of harmful actors can prevent Bitcoin from taking a similar system in the near future.
What do you think?
The discussion on the question of whether Bitcoin should move to the POW, continues and some supporters claim that the proposed system of Gridcoin would offer better security and better scalability. However, others say that POW is sophisticated over time and provides a stable base for the cryptocurrency ecosystem. What do you think? Should Bitcoin catch up with the consensus algorithms of his existing colleagues or study alternative systems like Gridcoin?
