Thank you for the article! I understand that Bitshares are not minable as it works with a proof of stake. Do you think this is the right approach for the future?
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Thank you for the article! I understand that Bitshares are not minable as it works with a proof of stake. Do you think this is the right approach for the future?
Two quotes from Dan regarding ETH mining:
That pretty much sums up mining. It's incredible that BTC and ETH can sustain their prices with that massive sell pressure, but how sustainable can it be? What if someone invented a coin that doesn't have such a sell pressure...
Like STEEM? =P
Actually also Steem must attract millions of new investments per year, but in return it get's value adding content that attracts new users. I was thinking of Bitshares :-)
Correct, they are not mineable in a traditional sense like Bitcoin. I think this is a good system because it massively reduces the compute used in the network to compete for blocks.
More importantly, the BTS network allows stakeholders to vote the users they trust into positions of power, whereas with setups like BTC the most powerful users are those with the most hardware.