Dash Needs to Move to Proof Of Stake

[Kevin Stalker]

dash needs to be protected against saviours like you who want to destroy it just so you can feel good.

Hmmm - yes. I was silly to make myself sound like an eco-warrior. You don't know me. I can assure you I am not making this suggestion to save the planet. It will appeal to some, but its not the point. That part of the point is that burning huge amounts of energy to make a block is going to be old fashioned soon. It encourages selling the profit to cover costs, and reduces decentralisation, and its hard to scale, and it compares badly with options which reward holders with compounded interest. Once the problems with proof of stake solutions are solved the world will move that way.

 

[GhostTanker]

I think there should be much care towards avoiding proof of stake. It is antithetical to the design of true cryptocurrencies and is centralized by design. Any proof of stake could be considered a pyramid scheme to a degree. Proof of Work, albeit now aging, is a great tool for distributing coins to new users and anchoring the coins to real life value. I think the real future of crypto lies in Proof of Service which is the model Dash has lead in.

In depth differences can be found via a quick search for: proof of stake vs "proof of service"

As the masternodes in Dash evolve, they might be rewarded on their effectiveness on the network. The PoW component will remain for security, but I think it should move towards avoiding asics, in similar ways to monero, and optimize for cpu. Monero has made hobby mining profitable again, although providing meager returns. If mining is built to be more distributed, it provides more resistance to centralization (and 51% attacks) and lowers the barrier to entry for those who might not be able to access dash through an exchange. The other possibility to reduce barriers is to enable trustless shared masternodes. This would have to be supported by a third party service, but would increase the size of the masternode network and allow dash users to grow their wealth if they do not plan on using it, thus increasing it's strength as a store of value.

 

[jielkwe]

If you mean POS (Proof of Stake) and POW(proof of work) then Dash has both actually. Miners work and get paid in dash by the blockchain and masternodes applinked support some features and are the future of dash’s scaling capability. But it absolutely is a POS coin, the best at it actually. Thanks for the interest!