[bitcoin-dev] Opinion on proof of stake in future
SatoshiSingh at protonmail.com
Fri May 7 17:17:24 UTC 2021
I am a lurker here and like many of you I worry about the energy usage of bitcoin mining. I understand a lot mining happens with renewable resources but the impact is still high.
I want to get your opinion on implementing proof of stake for bitcoin mining in future. For now, proof of stake is still untested and not battle tested like proof of work. Though someday it will be.
In the following years we'll be seeing proof of stake being implemented. Smaller networks can test PoS which is a luxury bitcoin can't afford. Here's how I see this the possibilities:
1 - Proof of stake isn't a good enough security mechanism
2 - Proof of state is a good security mechanism and works as intended
IF PoS turns out to be good after battle testing, would you consider implementing it for Bitcoin? I understand this would invoke a lot of controversies and a hard fork that no one likes. But its important enough to consider a hard fork. What are your opinions provided PoS does work?
Love from India.
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