I really enjoyed this article zarn. Zombie coins are indeed an interesting problem to get around. I suspect Proof of Stake might help ameliorate some of these issues as well.
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I really enjoyed this article zarn. Zombie coins are indeed an interesting problem to get around. I suspect Proof of Stake might help ameliorate some of these issues as well.
Thank you! Yes, Proof of Stake does offer some very interesting options for working around this problem. I'll definitely be covering it in the next couple of articles.
Stefan
What is the likelihood of bitcoin changing to POS though?
Not very high. It would destabilize its price and wreck the supply model Bitcoin adheres to, which is curently unnaceptable to most nodes. Not to mention the fact that PoS alone just doesn't work, it has to have either central (Peercoin) or elected (BitShares) authorities to help produce blocks, or be combined with PoW, for instance. But that's OK - we have newer cryptocurrencies to solve these kinds of problems. They won't stop Bitcoin from remaining the absolute digital gold for some time though.
Lol. About .00035%
Thereabouts, yes.
:)