Bitcoin Mining Is an Oligopoly, and Proof-of-Stake Isn't Any Better

  • 📰 CoinDesk
  • ⏱ Reading Time:
  • 23 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 13%
  • Publisher: 63%

Coin Coin Headlines News

Coin Coin Latest News,Coin Coin Headlines

Satoshi Nakamoto solved several difficult game theory problems when inventing Bitcoin, Boto's Breno Araujo writes. But are the market incentives in bitcoin mining actually bad for users? Opinion. MiningWeek, presented by FoundryServices

Proof-of-stake is a plutocracy?

Today PoW and PoS blockchains have conflicting interests between miners/validators and network users. Users would benefit from faster and cheaper transactions, but in general, this will increase costs to miners and validators, reducing their profits. A version of this conflict came up during Bitcoin's Blocksize War, where some argued to increase the amount of data in a mined Bitcoin block, theoretically making transactions faster and cheaper.

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 291. in COİN

Coin Coin Latest News, Coin Coin Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Rare 2010 Bitcoin Block Reward Stirs After 13 Years of Dormancy – Bitcoin NewsSo far this year, a total of nine such block rewards from the 2010 era have been spent, resulting in the transfer of 450 bitcoin.
Source: BTCTN - 🏆 531. / 51 Read more »

Tim Draper Predicts Bitcoin Will Outpace Fiat Currencies, Asserts Its Superiority Over Traditional Banking – Bitcoin News'[Bitcoin is] just better, safer technology, and I think eventually the rest of world will come on board,' Tim Draper told the show host.
Source: BTCTN - 🏆 531. / 51 Read more »

How Bitcoin Miners Can Stay Clear of SEC Scrutiny (and Fall Foul of It)If you want to be in crypto but escape SEC scrutiny, you probably want to hold bitcoin. But that doesn't mean bitcoin miners can't get into trouble with regulators over securities laws, says davidzmorris. MiningWeek, presented by FoundryServices
Source: CoinDesk - 🏆 291. / 63 Read more »

Bitcoin, Ethereum Technical Analysis: BTC, ETH Find Price Support Ahead of US Consumer Confidence Report – Bitcoin NewsBitcoin rebounded from a one-month low Tuesday, as markets prepare for the upcoming U.S. consumer confidence report.
Source: BTCTN - 🏆 531. / 51 Read more »

Worldcoin Officially Launches, Announces Orb Rollout Expansion in More Than 35 Cities – Bitcoin NewsOn reaching this milestone, Sam Altman stated: 'Worldcoin is an attempt at global scale alignment, the journey will be challenging and the outcome is uncertain.'
Source: BTCTN - 🏆 531. / 51 Read more »

Bitcoin Is on the Ballot in 2024A series of bitcoin-related statements and policy announcements show how politicians are paying greater attention to crypto this campaign season. Crypto-skeptics, in particular, should pay attention lest they come across as anti-innovation. This story is part of CoinDesk's Mining Week 2023.
Source: CoinDesk - 🏆 291. / 63 Read more »