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RE: PoW or PoS: what is the difference between mined and not mined cryptocurrency
Nice article, very in-depth! I don't really like either method, PoS or PoW because:
- PoW is much more centralized (e.g. most all of Bitcoin mining is controlled by a few big companies)
- PoS creates a larger wealth gap, as people who already have money recieve all the rewards, growing their wealth and eventually becoming the sole stakers, creating a centralized environment
I feel like what Steem uses, DPoS (Delegated Proof of Stake) works much better. It allows users to vote on who gets the rewards and gets to confirm the blocks, and measures what people think of the 'miners', not the amount of money they have.
I'm definitely upvoting and following you!
@shredz7
Thank you for your opinion,I absolutely agree with you and indeed system work steemit much better represented options.The purpose of the article was to broaden the horizons of readers, thank you again