Re:YouTube-mp3 agrees to shut down
by shawabawa3 on Tuesday September 05, 2017 @11:41AM
(#15176294)
> but can we even have a blockchain-based tech that doesn't burn enormous amounts of electricity just to operate?
Look into Proof of Stake (PoS) - people are looking into more efficient blockchains (although there's some controversy over whether it will work)
I've heard of the term, but from what I understand, no actual working implementation of that concept currently exists, right?
Decred is currently mined using a mix of PoW and PoS.
Current supply[1]:
PoW-mined: 43.5% PoS-mined: 21.8% Development Subsidy: 7.3% Airdrop: 13.7% Dev Premine: 13.7%
Blackcoin is also PoS mined, and NXT reaches consensus using PoS but if IIUC is not mined per se.
Also, the real problem isn't technical here. P2P file sharing technologies - from BitTorrent to IPFS - work well and efficiently. The problem, which makes the Internet media evolve towards big players owning CDNs and not towards IPFS-like network, is legal liability. When I watch a video of a wrong colour on YouTube, I'm protected by Safe Harbour. If I watch the same movie over BitTorrent, I risk having my life ruined by copyright laws. As long as this can happen, we won't have fully decentralized media.