Coin vs Coin is back for episode 2. This time it's EOS vs Bitcoin in the category of mining and the centralisation thereof. I have a few slides and another new shiny systems model to illustrate these concepts.
Timestamps:
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Excellent breakdown on differences between proof of work and proof of stake.
Email notification system sent me an email about this vid about 30min ago ... :/
I have to confess that this type of knowledge base ranks near the bottom of my list of "things in crypto about which I wish to learn more." That having been said, I'll never stop being impressed about your ability to take complex information and format it in a manner that helps me understand. I also respect the amount of effort and planning which is required in order to create and present such graphics. So, not my favorite stuff, but worthy of praise for fighting through my ignorance and forcing me to grasp something new.
Delegated PoW , you nail it ... almost seems like that EOS is more decentralized than BTC ... but would be comparing apples and oranges what fruit is better ... at the end , it is all crypto , each with own set of characteristcs, and as you have shown so similar and yet so diferent from eachother ... Congrats on this great presentation ... it will be a 'bestseller' for sure ...
Excellent work, Chris. Thank you for the analysis. I have to admit that the visuals do make it easier to absorb the concepts into my very small brain. The energy consumption/efficiency angle does play a role in the "who" as whales do on the EOS side of things. The price of both must be high enough to to make the math work, either way.
That is a great explanation of how PoW is not a decentralised as maximilists would like to believe/imagine. Simply put there is not going to be any staking/voting/mining solution that is going to be "masses" friendly, thereby making it almost impossible to have complete (idealogic) decentralisation.
Interesting video -- I like your diagrams -- very unique approach.
Great illustration of the difference between BTC and EOS mining. Thanks.
Just wanted to mention that EOS has a baked in feature to delegate voting power to other EOS accounts.
This could be thought of a way of creating "voting pools"
Some info on that by CC :
https://youtu.be/z3BV1-TOaJc
EOS is block chain v3.0... POW coins will die(besides BTC)
Is EOS Name really Ethereum On Steroids?
Easy to follow visualization to help understand the keys difference in mining capabilities! I wonder if the implicit security in place of these systems add to these considerations when it comes to running them for the difference tokens?
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That was extremely well put together, Chris! I think the explanation of delegated-proof-of-work is excellent and hopefully will connect with people . I've thought for some time that the Satoshi-narrative of "digital cash" has been somewhat warped by the reality of large mining firms and mining-pools and this visual explanation demonstrates the point very well!
Very interesting comparison! You could also see BTC as a delegated proof of stake system where the stake is electricity.
Loved the slides, they make it very easy to follow the ideas 👏.
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