Re:Kazakhstan to restrict crypto miners amid power shortages
by L33tCrown on Wednesday November 03, 2021 @03:13PM
(#29099024)
Actually PoW accentuates the concentration of miners, while in Ethereum 2 you are limited to a few mining machine, thus distributing more equally the mining power.
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Re:Kazakhstan to restrict crypto miners amid power shortages
by ilammy on Wednesday November 03, 2021 @06:26PM
(#29101248)
Bitcoin miners per se do not control Bitcoin network. They are the backbone, but the nodes ultimately decide whether they include a mined block or not. Validating blocks is way cheaper than mining them. Expensive mining process only ensures that you can't easily flood the network with bogus blocks.
Re:Kazakhstan to restrict crypto miners amid power shortages
by rfd4sgmk8u on Wednesday November 03, 2021 @03:58PM
(#29099534)
Actually, no, the opposite. One of the fundamental problems with PoS is that it has no externally observable metric that a block is correct. PoW is trivially externally verifiable. This is good for decentralization. There can be no lies from the miners.