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Just 137 crypto miners use 2.3% of total U.S. power — government now requiring commercial miners to report energy consumption (www.tomshardware.com)

submitted 9 months ago by misk@sopuli.xyz to c/technology@lemmy.world

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[+] an0nym0us@lemmy.dbzer0.com 11 points 9 months ago* (last edited 9 months ago) (10 children)

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[–] FaceDeer@kbin.social 0 points 9 months ago (9 children)

I went Googling for sources, and what I found says the opposite. Ethereum was becoming increasingly centralized under PoW but after the switch to PoS it became significantly more decentralized.

in order to stake to a pool, you need to lock your tokens away, making them impossible to spend for a specified time period.

This is exactly the point of proof-of-stake. You can't prove you've staked some coins if you don't actually stake them. If you've retained control over your tokens then they're not staked. I'm not sure how you think it could work otherwise.

most of the criticisms I have of ETH are more damming of the way they went about the transition between two radically different consensus algorithms than about Proof of Stake itself.

The transition from proof-of-work to proof-of-stake has been on Ethereum's roadmap since the beginning. It was rolled out in stages over the course of years. What was "damning" about the transition?

[–] demesisx@infosec.pub 5 points 9 months ago (1 children)

This is exactly the point of proof-of-stake. You can't prove you've staked some coins if you don't actually stake them. If you've retained control over your tokens then they're not staked. I'm not sure how you think it could work otherwise.

WOW. Straight up wrong.

I'm guessing you have a YUGE bag of ETH staked. 🤣

Since you're so wrong, it's clear that you are absolutely guessing here while anon is spitting facts, being intellectually honest about which drawbacks actually exist in the world for proof of stake. Take the L, dude. haha

[–] FaceDeer@kbin.social 1 points 9 months ago

You're guessing wrong, I'm not a "bagholder." I'm just interested in the tech.

it’s clear that you are absolutely guessing here while anon is spitting facts

I've provided specific examples and links to references. Anon's not done any of that, he's just got mad. Like you, too. Calm down.

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