Proof of Stake implementation vs Proof of Work (PoS vs PoW)

HappyGeorgeHappyGeorge Member Posts: 14
I am sooo excited about this Ethereum Project...

probably like thousands of others, I just hope it will be Proof of Stake... I don't like the Energy Burning PoW of Bitcoin

(I did a quick search in the forum here for "PoS" and "Proof of Stake" and I didn't find a discussion related to this here

I did find, high level writeups here:

http://blog.ethereum.org/2014/01/15/slasher-a-punitive-proof-of-stake-algorithm/

and

http://blog.ethereum.org/2014/05/15/long-range-attacks-the-serious-problem-with-adaptive-proof-of-work/

the problem with the two pages above, is that they are waaay over my head.

So, in short, will Ethereum be PoS or PoW?

Comments

  • StephanTualStephanTual London, EnglandMember, Moderator Posts: 1,282 mod
    It's not decided yet @HappyGeorge‌ :) The view at the moment is that ideally we'll aim for turing completeness PoW.
  • HappyGeorgeHappyGeorge Member Posts: 14
    Thanks for the answer. I understand the "aim" for turing completeness, the way you phrased it here.."turing completeness PoW" suggests that TC goes hand in hand with PoW

    is that the case? Doesn't it make sense to have a strong push to the most efficient (low energy consumption) option?

    I've been playing around with NXT and now PND they are both 100% PoS and are working!

    PND is such a small network, that if PoS was weak, I'd like to see it "taken down" somehow to prove once and for all the PoS is infact insecure

    Why is this not happening?
  • StephanTualStephanTual London, EnglandMember, Moderator Posts: 1,282 mod
    Maybe it's not worth attacking yet? Maybe the financial incentive of an attack isn't there? I noticed you read V's article on Long range attack potentials, as you can see it's something we are studying closely.
  • StephanTualStephanTual London, EnglandMember, Moderator Posts: 1,282 mod
    Since this was bumped - here's an update (nothing that hasn't been announced before though, just keeping the thread up to date):

    - We'll be using an ASIC-hard PoW (based on our Dagger-Hashimoto hybrid) at v1. This consensus algo will be CPU friendly and likely run on GPUs (also at launch, and we might provide the client for that).
    - We'll be promptly switching to PoS at the earliest opportunity, likely at v.1.1 in September.
  • eaglgenes101eaglgenes101 Member Posts: 43
    As we all know, Slasher depends on PoW. How are we going to do that? More Dagger-Hashimoto?
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