All the Talk in 2021 was handled by the numbers. Here are some annual increases: The ETH 434% , BNB 1486%, Cardano 1309%, Polkadot 467%, and Solana 2992%.
Although these coins are selected with candy, and other assets have also outperformed these coins (Dogecoin is in mind?), the above listed assets fall under a certain consensus algorithm, which is evidence of stake.
In the top 20 rankings, PoS tokens has found a legit house. Ethereum has not yet been entirely in agreement with PoS, but since Decmber 2020 it has had a staking protocol live.
Other properties, such as Cardano, Polkadot and Solana, are based on a POS consensus model and currently have an impressive evaluation of their business.
It is worth noting that the proof of stake is not the sole cause of these properties. At present, Ethereum has so many projects focused on DeFi or dApps that sooner or later its intrinsic worth had to be combined. Finally, Cardano gets the focus of the bigger bull run market, as 100% of its hoodlers are currently profitable. Its price increase has only emphasized its basics.
Musk suggested that such cryptocurrencies thrive at a ‘big price’ to the environment, and even said they wanted to add other cryptoactive assets for the transactions with Tesla.
In addition, 78.2% of the people wanted Tesla to adopt a doge during a recent survey. In Youth, Dog is also a PoW token. Now, PoS tokens may be used as worthy transaction replacements in contrast to Bitcoin. PoS is more energy efficient and eliminates high-performance computing.
The network guarantees itself in Proof of stakeholders’ engagement and its security is derived from the network’s perceived financial value. In general, the atmosphere is fine.
Its power, however, also shows its heel of Achilles. PoS networks are hard to secure with all their reliability. Although stakeholders protect the network, they often become wealthier because their ownership is paid out by cash, which leads to network centralisation.
Yet PoW has stood the time test for Bitcoin. More than 10 years on, PoW devices are yet to be attacked successfully. Other reports have reported that the energy consumption of Bitcoin might not be as dramatic as expected. In CNBC Brian Kelly’s view, 74% of Bitcoin’s electricity is renewable, while only 1 in five provinces in China (to be exact in Mongolia) is actually using coal-mining energy for bitcoin mining.
Then, Who wins?
The POW vs. POS debate is based on economics, productivity and individual views, while their achievements speak for themselves. The monetary policy of Bitcoin is rigid but the only one that has been effective. PoS projects have their problems, but several projects are emerging on the market by means of consensus protocols.
The discussion can only continue at this moment in the current market without a direct reply.
