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by X6S1x6Okd1st
2022 days ago
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Given that ETH is the second biggest cryptocurrency it will be a great stress test of the security properties of proof of stake. Honestly if it runs successfully for multiple staking periods I don't think there will be much of an argument for PoW cryptocurrencies that aren't the dominate coin in their respective type of work. Essentially all coins that share a proof of work with a larger coin are constantly at risk of a 51% attack. We've seen it before with bitcoin forks. Proof of work's security properties are broken for everything that isn't BTC, ETH (although this will change soon) and whatever the dominate CPU coin is (Monero?) |
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PoW secures any coin that dominates the daily issuance of all coins (efficiently) using the same hardware. So the different hardware classes are
CPUs
GPUs
SHA256 ASICs
scrypt ASICs
Equihash ASICs
X11 ASICs
etc...
and each one can secure one dominant coin.