Hello,
I have been researching about blockchains and stuff and it all seems like a big scam. It’s not sustainable and can be replaced by a simple database.
is there any legitimate use cases of blockchains or it is all just a big scam?
Hello,
I have been researching about blockchains and stuff and it all seems like a big scam. It’s not sustainable and can be replaced by a simple database.
is there any legitimate use cases of blockchains or it is all just a big scam?
@tired_n_bored @Deestan the mining aspect is what makes it secure.,. In theory Proof of Stake is greener, but once someone archive 51% of stake he became the owner of the network, while with proof of work the cost of securing the network is permanent… Saying this, i do agree that bitcoin energy spend is ab issue…
That’s true, but also the algorithm plays an important role. Do we really need ASIC farms in order to secure the network? Ideally, and how it was thought at the beginning, the individual nodes should also be responsible for its validation, using consumer grade hardware.
There are greener algorithms like the Monero’s. Also Nano uses something called “block lattice” in order to secure the network, with close to 0 required energy
@tired_n_bored I totally agree with that (I did made a thread on my last reply where I states monero approach), not sure about nano tho… Dont it have the same 51% issue as PoS?
@tired_n_bored @Deestan I think monero made the right choice of making ASICs useless and be mined on traditional PCs… Anyone can join the mining at anytime what makes mining farms (like the ones with ASICs or GPUs) way less common