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RE: Should I still invest in mining for crypto currency?
So you think there is a big change from PoW to PoS? Could you explain a bit more about it? I 'm interested to learn more about that.
So you think there is a big change from PoW to PoS? Could you explain a bit more about it? I 'm interested to learn more about that.
A gigantic change. PoW is the classic system of ETH or BTC... to verify blocks you need power and it is generated by the mining machines... So this increases difficulty, require more power over time but it generates new coins + fees for transactions. With PoS the supply is limited, and the verifications are made by the owners of the coins.... For example with ETH PoW you transfer ETH to someone and the verification is done by someone who is mining, that person gets the fees and the new ETHs generated, with ETH PoS you transfer to someone but you can be the person who verifies that transaction, receiving the fees and the dividends. With PoS mining is not required anymore....
So it's kind of similar to the tangle technology?
It's similar, but the main difference is the fees structure, tangle is created for micro-transaction, so the fees are really little or none, while blockchain PoS still have the same fees as usual, which are not exactly the best thing in the world if you need to send less than a dollar....