Ethereum proof of stake reddit. Search all of Reddit.

• Ethereum proof of stake reddit 56K subscribers in the ethstaker community. I know there's a lot of theory on nothing-at-stake, long range, stake grinding, stake bleeding, eclipsing, bribery, desynch etc. Or "Proof of Stake’s security model is being dramatically misunderstood Welcome to /r/EthTrader, a 100% community driven sub. The r/ethereum automoderator is pretty aggressive, as it has to be since this sub gets an absolute torrent of spam. upvote r/ImmigrationCanada. tldr; Ethereum’s merge to proof-of-stake is complete, which leaves billions of dollars of GPU mining hardware in want of new use cases. The essential point to understand is the theory of hash algorithms and the concept of reward in proof of stake and other proofs to secure the blockchain. Press J to jump to the feed. Using words like centralized and decentralized aren’t as helpful because those are theoretical ideals. I think Casper will be a secure consensus mechanism for blockchains. But it's not always that simple, for example staking 1 ethereum with a group of individuals in a pool could be a cheaper bar of entry than a bitmain S19 for example. Some of this hardware – roughly 16% of it over the long-term – could migrate to GPU-mineable alternatives. Validators vote for pairs of checkpoints that it considers to be valid. It is used in many blockchains that are based on PoS or one of its many variants. Those who contribute hash power to a mining pool derive the reward as a result of the efforts of the pool operators who build the blocks and submit them to Ethereum is now consuming 99. If ethereum is planned to use PoS it's going to be a awesome hit. 138 votes, 23 comments. The people with big stakes have the advantage. The rest will either be scrapped or sold. Ethereum currently uses PoW, but near the end of 2018 ethereum will move to a proof of stake (PoS) algorithm known as Casper. Whoever is the closest "bet" wins a percentage of ether from the other party epending on how much bet they put. However, even if the network doesn't impose a minimum, there is a practical minimum, rooted in the cost of operating a staking This is why I disagree with CEX on-chain staking being defined as securitized. Read the full discussion on reddit: Delegated proof of stake actually counter acts some of your arguments, since being able to collude/convince others to delegate stake to you for voting power is far easier. IT DOES NOT EXIST! This is the ISSUE. 1. Ethereum is transitioning to proof-of-stake which will make it more energy efficient than Bitcoin's proof-of-work. You can't do payments or use smart contracts until the rest of Ethereum 2. It's a closed system. There is a fundamental misunderstanding of the purpose of mining. If AWS isn't selling securities, neither is a CEX (as long as it's transparent on-chain staking). Ethereum Proof Of Stake has failed already. Users share their opinions and insights on the pros and cons of Proof of Stake for Ethereum, a popular blockchain platform. With proof of work it still has the same issue so i think proof of stake is at least a step forward. Maybe they had the idea that after Ethereum's main chain transitions to proof of stake, they could perform a very long stake-bleeding attack, going all the way back to the genesis block where they would control a significant percentage of the accounts. I'm not saying that the same can't happen for Bitcoin, over 60% of the hashing power there is controlled by 2 companies last I checked. This system is used by the Ethereum network, among others. Now we have a Tx that wants to be processed to be put on a block, but we don't know how much ether the Tx need. If that transaction gets added to the blockchain, then they get a reward, a percentage of the transaction fee equivalent to the percentage of their initial There is NO Proof of Stake model that has been PROVEN socially resilient. It's the best way to stake, but it often requires a lot of money. 83 votes, 47 comments. Because it’s all virtual, nothing in the real world changes. Otto currently have oil production from its SM 71 oil field in the shallow water Gulf of Mexico (Louisiana) and gas/condensate production from its Lightning discovery onshore Matagorda County, Texas. r/ethereum A chip A close button. Dive in at ethereum. If a pair of checkpoints attracts votes This means that Ethereum’s computational power (hashrate) will be either removed (rigs will be shut down) or transitioned to other projects that are listed below Ethereum. There is all this talk about Ethereum switching to proof of stake, that it will kill gpu mining. e. Here is how I hear Proof of Stake described: A person called a validator stakes some of their coin into the network. This is due to the POS centralization legal issues. com Visa Card — the world’s most widely available crypto card, Ethereum is nor the first neither the best proof of stake system Ethereum's proof-of-stake aims at decentralization run by a massive amount of validators including enthusiasts staking on their home PC. Staking ether refers to putting up your asset ether as collateral to run a node on the network Ethereum. Essentially, it consists of locking cryptocurrencies to receive Users can protect themselves now on the app layer. Hedera is a decentralized, open-source, proof-of-stake public ledger that utilizes the leaderless, asynchronous Byzantine Fault Tolerance (aBFT) hashgraph consensus algorithm. Reddit comments are not If Ethereum adopts Casper Proof of Stake, it is very likely that it will become more decentralized. Proof of work is an open system and much more fair. You stake Ether to secure Ethereum, and thus make the Ether that you need to run computation on that network more valuable. 3M subscribers in the ethtrader community. Staking is the act of depositing ETH to activate validator software. Terms & Policies r/etherpos: A place to discuss proof of stake inside the Ethereum network. tldr; Ethereum developers successfully merged the mainnet's execution and consensus layers on the Kiln testnet this week. Currently I have staked a small amount of crypto in a proof of stake project and am receiving payouts at set intervals. 05 ETH each. affordable so you can cash back out without losing money if you don't like mining, or 2. Proof of Stake is the validating of transactions en the creating of blocks on the blockchain by 'staking' a certain crypto. , but I can't find details on actual incidents of any of them. A community to discuss staking on Ethereum's Proof of Stake network. This is a concensus mechanism. According to ConsenSys’ Ben Edgington, a Beacon Chain developer, the teams accomplished the transition of a multi-client devnet from proof-of-work to proof-of-stake. 116 votes, 49 comments. 6K votes, 150 comments. org The question is also not about crypto currency as that is a different discussion. The validator then places a bet on a transaction they think is valid. Reddit iOS Reddit Android Rereddit Best Communities Communities About Official community for Algorand - World’s first open source, permissionless, pure proof-of-stake blockchain protocol designed for the future of finance. 13 votes, 45 comments. org Short version: – Proof of stake is a consensus algorithm that decides on who validate the next block, according to how many coins you hold, instead of miners cracking cryptographic puzzles using computing power to verify transactions like they do with traditional Proof-of-Work. org Ethereum's proof of stake (PoS) - With Ethereum transitioning to PoS, it seems like the big players with substantial funds will control the network due to their sheer size. It is estimated by professionals that, for a hacker, it is easier to break into a Centralised Financial Reserve and rob the funds than to take control of Ethereum Proof of Stake consensus explained reddit. They compare it with proof-of-work, a Proof-of-stake is a way to prove that validators have put something of value into the network that can be destroyed if they act dishonestly. com is the best place to buy, sell, and pay with crypto. Can someone explain in detail how this algorithm works and how it Sometime in the first half of 2022, in a dramatic event termed “ The Merge,” Ethereum plans to transition its entire network to a different consensus mechanism: proof of stake, which it Q&A for users of Ethereum, the decentralized application platform and smart contract enabled blockchain But don't worry, as Vitalik said here, staking isn't that risky if you behave well (or you try it). 5M subscribers in the ethereum community. 0 comes online. Founded by Turing Award-winning cryptographer Silvio It seems that the Beacon chain holds information about the validators (stake queue, unstake queue etc) and it also part of the Ethereum node implementation. 7M subscribers in the ethereum community. org The recent events with tornado cash have really opened my eyes to what the merge will do to Ethereum. So I guess that, just like pretty much everything else in life, there's pros and cons to all options and Proof of History allows for speed while/with Proof of Stake + tBFT make the network halt resistant at 33% of stake weight (right now that means Nakamoto Coefficient of 19) And resistant to faulty transactions at 66% stake weighted. 0 Planned For Launch in 2020. Press question mark to learn the rest of the keyboard shortcuts. Problem lies in that the wealth it generates will still be very unevenly divided. com Open. Though, if there were ever any hope for it functioning as a decentralized internet of sorts, that goes out the window without incredible amounts of processing power. It is governed by a diverse, decentralized council of leading enterprises, universities, and web3 projects from around the world. Regardless, if it's possible to do something like that for staking in general, it would be a This presentation went from 0 to 5 to 60 pretty fastit started with a very slow recap of the core concepts of blockchain technology - which definitely set the ground floor of understanding nicely. Proof of stake can work, but it wont improve the blockchain at all, and has the potential to make it worse. What would a proof of stake mining rig look like? Since brute forcing a hash would be not needed, gpu mining It could be just any ethereum client. Up to a million validators, only 60% uptime is required with modest system requirements. A "full Ethereum If Ardor reached the market cap of Ethereum, then in order to maintain the $250 staking minimum the staking minimum will be 5 ardor. If the value of ETH falls, the incentive drops. Protecting on the protocol level is harder, there are a lot of tradeoffs to ideas like encrypted mempools. It is probably better to just say proof of stake is less centralized than proof of work. Something I've been thinking about, but in Proof of Stake, you are expected to vote "rightly", Reddit is "sunsetting" community points, we've been working on a fully P2P Reddit alternative that uses Ethereum for community names and usernames for 2 years. I am a Pretty sure Tezos' (which has been Proof of Stake since 2018) new proposed update introduces a way to reduced the way the wealth will stack because it's is a primary benefit of staking and helping the system work but I won't be as bad as normal proof of stake and proof of work systems. Valheim; Genshin Impact; Ethereum Proof of Stake, which would have ended ETH GPU cryptomining, has been officially delayed from "~Q2 2022" (June) to "~Q3/Q4 2022" (as late as December) Fair enough. How to Stake. But is there truth in that? Does anyone really know when the big Is Coinbase going to offer custodial services for Ethereum's upcoming proof-of-stake? If so, could you share some information? Advertisement Coins. They are censoring all transactions the US Government does not approve of. That's where Ethereum is different because a lot of tokens are created ON Ethereum, and you NEED Ethereum to do anything, and it's used a lot which gives it value. 8M subscribers in the ethereum community. org Not to bring up Tezos (my apologies), but they have indicated that they will likely support staking from a Ledger Nano S (for example). GPUs are STILL overpriced to this day thanks to those god damn locusts. people wanting to stake in order to earn more ETH in the long term. a good gaming one (3000 series Hedera is a decentralized, open-source, proof-of-stake public ledger that utilizes the leaderless, asynchronous Byzantine Fault Tolerance (aBFT) hashgraph consensus algorithm. 0. Posted by u/Basoosh - 1,187 votes and 521 comments Business, Economics, and Finance. Without proof of History, the tBFT and PoS would be like many other PoS systems. People who are candidates for solo staking ought to meet a few requisites: at least 32 Ether, some technical ability, hardware that can run 24/7, and at least 10Mbps Internet connection. From my understanding, Proof of work requires more complex equations to be solved in order to be settled on the blockchain. In Ethereum's proof-of-stake, validators explicitly stake capital in the form of ETH into a smart contract on Ethereum. There's a few way to stake your coins, I'll go over the most common ones. 1M subscribers in the ethereum community. You can do many, many things with ether the asset. Get app Get the Reddit app They operate their products atop an Ethereum zkRollup Layer2 Exchange & Payment Protocol (v3), the Loopring Protocol. General White Paper, Technical Yellow Paper (PDF) If you follow any of the above links, please respect the rules of reddit and don't vote in the other threads. org. Somebody will unblock stuff when they see it, but nobody is watching the queue 24-7 as we have pornhub all kinds of important Ethereum projects we're working on when we're not moderating. Lets say a super rich entity ( mega billionaire or government, goes ahead and buys 51% of all Ethereum available) then this person now has 51/100 chance Users on r/ethereum subreddit share their opinions and questions about proof-of-stake, a consensus algorithm that Ethereum is moving towards. After some research, I found on Ethereum foundation website (dot org) a comparison of different Pool staking services. Ethereum staking rewards are only 0. Get the Reddit app Scan this QR code to That’s pretty huge! You can even access liquid Ethereum staking services like Rocketpool, and get rETH to access Ethereum’s staking yield with pure proof-of-stake blockchain protocol designed for the future of finance. Based on the OFAC action against the Tornado Cash Mixer, custodial exchanges should be avoided for staking, as should any other entity who may stake on your behalf and censor transactions. 0 will be PoS, yes. Discussion of mining the cryptocurrency Ethereum. People who are candidates for solo staking ought to meet a few requisites: at least 32 Ether, some technical ability, hardware that can run 24/7 , and at least 10Mbps Internet connection. com serves over 80 million customers today, with the world’s fastest growing crypto app, along with the Crypto. Next-generation platform for decentralised applications. 2K subscribers in the cryptoall community. Thanks for sharing! However, I’d like to draw attention to the first paragraph Ethereum’s staking is designed to allow people to run validators at home, rather than Cardano’s model which is based around big pools running the actual validators, while regular users delegate to a pool they think is validating honestly. With Ethereum's transition to proof-of-stake (PoS) expected as early as September 2022, a multitude of questions and misconceptions around staking ether and the workings of Ethereum uses a proof-of-stake consensus algorithm to ensure the integrity and security of its blockchain. Here you can discuss Ethereum news, memes, investing, trading, r/ethpos: A place to discuss proof of stake inside the Ethereum network. Both have valuable network effects but Ethereum may have more utility across financial services, NFTs, metaverse, Web3, etc. Posted by u/Shade_008 - 4 votes and 23 comments Apparently a whole shitpot, like most of the hashrate (large mining facilities) partook of either of two POW hard forks, ETHW and ETF. Such long forks are unlikely to work in practice though. This will keep Ethereum secure for everyone and earn you new ETH in the process. Welcome to /r/EthTrader, a 100% community driven sub. Do some research for yourself first on proof and hash reward and then you will understand your own question Otto is an oil and gas exploration and production company with a regional focus on North America. I thought that in Proof of Stake, the number of validators will decrease to just a few, so the process to reach consensus will be much shorter and the gas fee will decrease as result. PoW and PoS protect against ‘sybil attacks’ by making users either expend a lot of energy or put up collateral, providing an economic deterrent to Sybil attacks. So I read this article in which Tim Beiko, a dev on Ethereum, said that transition to Proof of Stake does not lower the gas fee on Ethereum. I've been reading a lot about the switch to proof of stake recently and almost every article mentions emission, scaling and security. Sounds like some of the biggest went with Etherium Fair. Crypto. Fees + coinbase reward. If you stake with a central exchange, they could be the next Celsius and then you lost all your money (not saying Celsius was staking, but the StakeWise offers an easy and secure way to stake ETH. 2. I am a bot, I reply to posts with "PoS" and "Proof of Stake" in the title to help mitigate repeat questions. How does the Beacon chain differs from the main Ethereum chain? Is there a reason that is called Beacon chain ie. 194K subscribers in the EtherMining community. Intro The Cryptocurrencies along with the Blockchain Technology is most famous for the high-class security that it provides. An under-the-radar rendezvous of core Ethereum developers took place in Greece last week, with major progress being made toward the Merge. On proof-of-stake Ethereum, this is managed using "checkpoint" blocks. I recommend you learn how to make a 1x GPU mining rig (buy a mobo capable of using 6 or so cards) and get a card that's either 1. Earn ETH rewards with hassle-free liquid staking by StakeWise, trusted by over 5,000 users. To mine new coins there is 2 ways i know of, either PoW or PoS, the PoW is proof of work like bitcoin where you would use physical hardware to do calculation and for blocks solved you get rewarded coins. On the other hand, attacks on PoW networks are well-documented (e. So, Ethereum slots have a 12-second block time because that's how long it takes for a new block to be added to the blockchain. If you dont follow the Government rules they will send 3 letter agencies to your door and let you rot in prison. Staking is the process of holding funds in a cryptocurrency wallet to support the operations of a blockchain network. Topics include token distribution, staking rewards, security, and Quick question on Proof of Stake. ETH is actually pretty smart because it gets used in private organizations as well with private tokens you can't find on any exchange because they're not traded for money. Rocket Pool is a better option based on their criteria (trustless and permissionless nodes). 99% less energy through The Merger for Proof of Stake, and its not even been a half a year since then. The main reason is because I haven't seen a single logical argument for why PoW is better than PoS othan than it is time tested; Proof of Work has Proven to Work over a relatively long period of time. Petroteq has developed a distinctive solvent-based technology process that effectively cleans oil sands of all hydrocarbons without utilizing water or releasing significant GHGs into the atmosphere. Participants who openly disregard this ethos will find their comments removed. Proof of stake can be taken over covertly, slowly getting more and more of the supply. This is what Vlad has warned against, and what (likely) irritates Vitalik. This process, known as proof-of-stake. The advantage of Proof of Stake is it's speed, and the fact that it doesn't require complex computations, thereby making it energy efficient. The main difference between the two mechanisms is that Proof of Work is based on computational power, while Proof of Stake is based on a person's stake in the network. The shift, known as 'The Merge,' replaced miners with stakers, enhancing network security and reducing environmental impact. Members Online Ethereum Proof Of Stake Merge Goes Live On Ropsten Testnet Understanding the consensus mechanism of Proof of Work Vs Proof of Stake in the Blockchain Technology. org Hello, I just wanna ask some questions on ethereum proof of stake mechanism. Search all of Reddit. Ask questions or receive news about about mining Bitcoin uses a consensus algorithm known as proof of work (PoW). tldr; Ethereum’s ‘consensus mechanism’ is the combination of the PoW/PoS Sybil resistance mechanism and chain selection rule in place which determines the overall consensus mechanism. . Also if you don't understand how ETH works and where the road map is headed, you aren't ready for ASIC mining in my opinion. Daily reminder what Ethereum was supposed to be. Solo staking on the ethereum beacon chain is the gold standard for staking. Or A proper proof of stake system will be designed so that each block gets solved by different stake holders or group of stake holders. What has changed in the past month(s)? IMPORTANT: I have removed any suggestions for engaging with custodial staking entities like Centralized Exchanges. Etherium Proof of Work or Etherium Fair. On that day, only the test network will get an update, while the main cryptocurrency network will get it sometime in the near future. "to have a majority stake in" meaning "to own a majority of the currency". well in essence proof of stake will just turn eth into a new type of ponzi/pyramid scheme. METRICS If we would go back exactly one year, one of or maybe even the most anticipated Crypto The Aeternity oracle is a kind of proof of stake consensus mechanism. View community ranking In the Top 1% of largest communities on Reddit. Vitalik and Vlad, and the Ethereum Foundation, have made their proposals, but they are just a small group of Proof of stake relies on having validators online and attesting; there has to be an incentive to participate and a disincentive to do a poor job of validating. 137 votes, 148 comments. Proof of Stake. Just a gentle reminder to check the Wiki if you have questions about PoS (including the start time, minimum amount to stake, and more) . This is a safe space for ALL Ethereum stakers, regardless of how they stake. Ethereum’s Proof-of-Stake May Happen Sooner Than You Think coindesk. org on 51% attacks: There's very little incentive to destroy the value of a currency you have a majority stake in. r/ethstaker strives for high quality interactions, our motto is "welcoming first, knowledgeable second", so please welcome every question and comment in this spirit. It is secure, provides full participation rewards, and improves decentralization of the network. Understanding ERC-20 Tokens 2. Like a secure hot wallet on your phone or pc. Proof of stake is Fiat 2. Please note the information provided by our members is not (and should not) be interpreted as legal advice. They don`t mine blocks, but forge blocks. /r/Statistics is going dark from June 12-14th as an act of protest against Reddit's treatment of 3rd party app developers. Here you can discuss Ethereum news, memes Interestingly I keep having the opposite thought: why would anybody increase their risk, lose control and give away part of their rewards as fees by staking their ETH through some other entity? (except those who want to stake less than the 32 ETH needed to solo stake). Ethereum's data sharding basically splits up Ethereum blockchain data across many nodes, so that not every node needs to store every piece of data like they do right now. Founded by Turing Award-winning cryptographer Silvio Micali. Get the Reddit app Scan this I have rudimentary knowledge of how Proof-of-Work and Proof-of-Stake works. To be prepared for the mainnet launch of Ethereum Proof of Stake. Premium Powerups Reddit iOS Reddit Android Reddit Premium About Reddit Advertise Blog Careers Press. With over 60% of the pre-merge stake already owned by 4 COMPANIES that are US regulated and will do whatever is needed to comply w the govt (69% owned by 10 companies which is over the 67% threshold!!) Those who stake compute resources expect the exact same rewards as those who stake staking tokens. It would be somewhat ludicrous if the entire value of Ethereum network was being secured by 1000 stakes holding 0. Or check it out in the app stores     TOPICS. But as soon as he jumped into proof of stake, it got really hard to follow along (specifically the part about "Forkable Strings"). Unfortunately, no everyone will be able to stake by themselves, but there's still a way ! 2. simple as. Get the Reddit app Scan this QR code to download the app now. Let's say you put a "bet"(Stake = 1ether) and I put a Stake of . Does this not compromise the principles of decentralization? For this 194K subscribers in the EtherMining community. As for PoS its proof of stacking which would use existing coins for validations. The Eth2 proof-of-stake chain first launched in December 2020. Crypto Posted by u/kucoin_official - 7 votes and 12 comments 86 votes, 19 comments. Each nominal unit of coin has equal odds to be picked for its wallet to be the next miner. Regarding emission, I strongly doubt that that was a very big topic when the switch to proof of stake was first introduced in 2014/2015. How much less? Get the Reddit app Scan this QR code to download the app now. Proof-of-stake will finally rid the GPU market of the cancerous cryptominers. "The Merge", which is the event that will fully switch Ethereum's consensus to proof-of 153 votes, 49 comments. So, I understand that there are validators which validate transactions View community ranking In the Top 1% of largest communities on Reddit. If too many people stake, the incentive drops. The following are the broad design goals for the Ethereum proof-of-stake consensus specifications: to minimize complexity, even at the cost of some losses in efficiency; to remain live through major network partitions and when very Official community for Algorand - World’s first open source, permissionless, pure proof-of-stake blockchain protocol designed for the future of finance. I don't know which one to choose. The price crash helped cleanse the GPU market, but theres plenty of idiots mining and buying new GPUs even while not being profitable because "nExT bUlL cYclE iMa bE riCh!!", so I'm more than happy if the merge finally happens. The 12-second block time is a bit of a compromise. 0 shift to proof-of-stake is just months from launch, and analysts are bullish about the update. The mainnet transition to a proof-of-stake (PoS) blockchain will have the immediate effect of cutting down the energy requirements of the network. In fact this is what allows ethereum to be used in the practical way that it is used as opposed to the store of value way that bitcoin is heading. Comparing 10s to 1000s is a good way to quantify the level of decentralization and that’s probably the best way to answer such a question. 15 Get the Reddit app Scan this Ethereum’s ETH 2. This will initially be rolled out as a PoW and PoS hybrid where every 100th block is validated by PoS. This does not mean that proof of stake is not secure. Every other "proof of stake" chain is a data center chain, run by a Here you can discuss Ethereum news, memes, investing, trading, miscellaneous market-related subjects and other relevant technology. org baby proof your house, and live in a bubble. 8% for Bitcoin miners and almost 4% for Ethereum miners (ignoring fees). The validator is then responsible for checking that new blocks prop The second-most-popular crypto platform transitioned to proof of stake, an energy-efficient framework for adding new blocks of transactions, NFTs, and other information to the blockchain. The real difference is that regular hodlers who aren't staking or mining get hit with less inflation under proof-of-stake, because they don't have to subsidize the energy consumption. 3. Here you can discuss Ethereum news, memes, investing, trading, miscellaneous market-related subjects and other relevant technology. which would be lacking in a proof-of-stake system, in theory. - Ethereum proof-of-stake, where stakeholders validate their own stake at the protocol level. I understand that in proof of stake instead of competing to build the next block validators are randomly selected to Ethereum-related dev talk: Contracts, DApps, Wallets, Clients, Infrastructure, Tooling, /r/Statistics is going dark from June 12-14th as an act of protest against Reddit's treatment of 3rd party app developers. Ethereum 2. The CEX is literally just offering to host your own staking for a cut, almost the same as if you run a node on AWS. org Crypto. So I'm quite confident this can't be the main initial reason for the switch. In Proof of Stake there are no miners, but validators. In PoW the "offline penalty" is the fact that you're losing money on your significant ASIC/GPU investment and you're falling behind in the race for additional hash power. The ASICs on Ethereum will probably move to mining Posted by u/rootpl - 10 votes and 55 comments The whole post is very informative. 74K subscribers in the UniSwap community. Helicopter-Ben will be air dropping I'm sure. They state "The system is not purely proof-of-stake; some minimal proof-of-work will be required to maintain a time interval between blocks. As a validator you’ll be responsible for storing data, processing transactions, and adding new blocks to the blockchain. tldr; Vitalik Buterin defended Ethereum's transition from Proof-of-Work (PoW) to Proof-of-Stake (PoS), emphasizing its necessity to address PoW's centralization and environmental issues. Ask questions or receive news about about mining Proof of Stake has probably been discussed a lot here before, but I think it's important enough to be discussed again. Staking reward is global, not per user. The energy is Proof of stake is the dream-Algo of three letter nation state entities which loves total censorship control over money flow. There is also articles like this one that say something about an upcomming update in 14 April. Some questions on ethereum proof of stake Ethereum's proof of stake is superior to proof of work on all of these dimensions - but let's set that aside for a moment, assume the costs are equal between the two systems, and define some terms for this simplified argument: A = the cost of carrying out an attack Do you stake your coins, and then your computer takes care of the rest? For honest users, yes. But proof of work can change the course of a river (cause a miner wanted a bigger hydro station) Proof of stake operates on a game theoretical model. is there a different consensus? Recent proof of stake merge is very definition of scam. On the Ethereum chain, you can become a Validator by yourself if you have 32 ETH I have recently bought ETH and was looking to stake it with Lido, the only one I heard before. GameStop Moderna Pfizer Johnson & Johnson AstraZeneca Walgreens Best Buy Novavax SpaceX Tesla. But I was wondering if we go further down the chain and take into account that we've just gone further down the chain, also accounting for the 50000 similar threads that have already popped up in recent weeks and months, and not forgetting about the complete silence Nicehash keeps about this subject, and taking into account the fact that we have already gone further The fact of buying 51% of a very expensive asset to then destroy its value by showing to the world it's not secure anymore would probably be the most unreasonable economical attack in history, even more so when other actors can quite quickly fork you out at a very low cost (it may incur some costs to people, but it would be nothing compared to the market and the attack cost). Even if we assume you could stop staking your ETH whenever you wanted (which right now you can't) you would still find a balance between people wanting to sell in order to gain more ETH in the long term vs. 3% right now, compared to about 1. Edit: Please don't downvote his comment, he still makes a valid point on energy consumption of banks! Solo staking on the Ethereum beacon chain is the gold standard for staking. Proof of Stake is actually what we already have right now, but in national currency version. These products include the Loopring Wallet app, an Ethereum L1 & L2 social recovery smart wallet, the Loopring Layer2 Decentralized Exchange (DEX), a non-custodial orderbook & AMM-based zkRollup L2 DEX, and the Loopring L2 Relayer. You run a client that is open source, has been carefully vetted and tested to follow the spec (the core rules of the protocol) so you can be reasonably confident that if the software says the block is valid, then it is valid. Share Sort by: Reddit where all sarcasm needs an /s is not a reddit I want to be a part of So ADA is a delegated proof of stake chain that is 5+ years behind ETH in Eth2 is a marketing term used to represent a number of updates to Ethereum. In comparison to "wrong" crypto Ethereum was supposed to be decentralized supercomputer where companies could buy share of that power for ethereum coins doing so called "smart contracts". Reddit iOS Reddit Android Rereddit Best Communities Communities About Get the Reddit app Scan this QR code to download the app now. You can’t stake or even own Ethereum because it refers to the network. (Feel free to correct me). In Proof of Stake, Ethereum-related dev talk: Contracts, DApps, Wallets, Clients, Infrastructure, Tooling, UIs, Patterns, and others. Uniswap is a decentralized trading protocol on Ethereum. The first block in each epoch is a checkpoint. Proof of Stake conceptions have NOT been solved. The coin that you buy is called “ether”. 6M subscribers in the ethereum community. Nobody will even know YOU control it. That would lead to an unreal number of stakers and would probably congest the network to a point where it could take days to finalize a transaction. That’ll be interesting to watch. While this sharding provides ample storage space for Layer 2s like rollups to store data related to state, the main-chain validation of rollup execution is either done through a challenge period as in optimistic Dunno why people are downvoting this, it's exactly correct. If the total reward is 500,000 ETH per year, and only one person stakes, they get the lot! If a million people stake it gets split between them (depending on how much they each stake). 5 ether. Proof of Work is based upon a numbers game of who has the most hashing power while proof of stake is based upon a statistically fair game of whoever has the most crypto. This block time is set by the Ethereum network protocol to ensure that transactions are processed efficiently and securely. Members Online Ethereum Addresses at ATH, Will Become a World Computer – Vitalik Buterin Firstly, there are limited number (order of magnitude 1000) of staking nodes due to latency. Gaming. I also understand that Eth's primary purpose isn't to be a "global computer", for example. Stake solo or pool ETH with others, and use your stake to borrow, farm, and trade in DeFi. Given where they are (which is much further behind Ethereum), I'm not sure how accurate that will turn out to be. The validation power to transact goes to those with the most holdings of the network's native currency. g. And now, on June 8th, Ethereum’s test network called Ropsten will host the merge to shift to staking and abandon mining completely. The concept of staking is closely related to the Proof of Stake (PoS) mechanism. From ethereum. Gnosis wants to experiment with shuttered beaconchain I believe. The beacon chain of Ethereum 2. But the expense to attack a proof of stake network is not denominated in value exogenous to the network itself. The core concept of Proof Of Stake is that it is expensive to be a malicious actor. This thread is a response to u/itistoday criticisms of Casper, which can be found here Lets compare the censorship resistance properties of Casper against those of PoW. Proof of stake leads to oligarchy, or rule by the few, where the whales, exchanges and institutions will be able to “democratically” vote on upgrades to ETH, manipulating the protocol over time to their benefit. 🐄 and MEV-protect rpc are both options to do so. Here, majority stake refers to ETH's technical "stake" term, but the argument makes it sound like it's the common English usage, i. " The desired time intervals could easily be achieved if you combine slasher with a very similar proposal ( pseudo-random-race-condition ). 1 Solo Staking. 0 coins. cuz thats what proof of stake is r/Petroteq is a community-driven platform established to facilitate the sharing of information regarding Petroteq Energy. Open menu Open navigation Go to Reddit Home. cryptoall Hedera is a decentralized, open-source, proof-of-stake public ledger that utilizes the leaderless, asynchronous Byzantine Fault Tolerance (aBFT) hashgraph consensus algorithm. With proof of stake though there is no mining, you simply stake coins and the larger your stake the higher your chance of being selected to approve the next block (or did I misunderstand that). The network that uses ether as a transaction fee is called Ethereum. Years ago, Ethereum developers decided to quit cryptocurrency mining. Nailed it. But for a few months you won't be able to do anything but stake on it. Many have attempted to solve the nothing at stake problem including Ethereum but only time will tell if that is sufficient. qbjg yymzw nxo cwghv wvem xwkekj qklvtc dubkxe nxum meooy