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about:pow_vs_pos [2017/07/29 02:38]
aerrejon created
about:pow_vs_pos [2017/08/31 03:04] (current)
aerrejon [Why Sia uses PoW instead of PoS?] Typo
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 The blockchain of Sia is secured by a Proof of Work (PoW) algorithm. In blockchains,​ transactions are immutable and irreversible because every block is stamped with the solution of a cryptographical problem (in simple words, a very complex mathematical problem). PoW secures the blockchain because to revert a transaction,​ a malicious attacker would need more “work” capacity (computational power) than the rest of the network combined. The blockchain of Sia is secured by a Proof of Work (PoW) algorithm. In blockchains,​ transactions are immutable and irreversible because every block is stamped with the solution of a cryptographical problem (in simple words, a very complex mathematical problem). PoW secures the blockchain because to revert a transaction,​ a malicious attacker would need more “work” capacity (computational power) than the rest of the network combined.
  
-Alternative securing mechanisms have emerged in the last years, including Proof of Stake (PoS), Proof of Capacity (PoC) or Proof of Burn (PoB). In PoS, for instance, the chances for solving a block depend on the amount of coins hold by every wallet (the “stake”). Thus, in PoS big coin holders have more chances to obtain the mined block reward. PoS has become especially popular recently, and several users ask why PoW was chosen instead of PoW for securing the Sia’s blockchain.+Alternative securing mechanisms have emerged in the last years, including Proof of Stake (PoS), Proof of Capacity (PoC) or Proof of Burn (PoB). In PoS, for instance, the chances for solving a block depend on the amount of coins hold by every wallet (the “stake”). Thus, in PoS big coin holders have more chances to obtain the mined block reward. PoS has become especially popular recently, and several users ask why PoW was chosen instead of PoS for securing the Sia’s blockchain.
  
 Sia developers [[http://​blog.sia.tech/​choosing-asics-for-sia-b318505b5b51|have stated their preference for PoW]] due to a number of reasons: Sia developers [[http://​blog.sia.tech/​choosing-asics-for-sia-b318505b5b51|have stated their preference for PoW]] due to a number of reasons:
about/pow_vs_pos.txt · Last modified: 2017/08/31 03:04 by aerrejon