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Please show me at least one project that utilizes proof of stakes, works and has a decent user base.

Tenoke 4y ago
The projects mentioned in the article we are commenting on (or more accurately the chain they run on - Luna) are Proof of Stake. PoW is completely irrelevant here.
- kravvall 4y ago
  Yes, and it can't hold it's peg, that's why we are here. So apparently this is not a functioning project that is working (as in "can solve its proposed use-case")
  - ClumsyPilot 4y ago
    Total non-sequetor PoS and stablecoins are two orthogonal arguments, one has no effect on the other. This is like arguing that electric cars are better than diesel, and you retorting: but this tesla crashed into a wall, see electric cars suck!
    - couchand 4y ago
      As a disinterested bystander, it sure seems like, "this coin failed" is a reasonable rebuttal to the argument that this coin is an example of success.
      - ambrozk 4y ago
        You may be disinterested, but you're not informed. The people above you are not arguing about whether LUNA is a successful coin in general, but over how it reflects on "proof of stake" vs. "proof of work" protocols. If you think LUNA losing their peg is a good argument against PoS, you don't know enough about cryptocurrency to judge these arguments. LUNA's peg to the dollar is ensured with a scheme that has zero to do with either proof of stake or proof of work. Saying Luna's failure redounds on proof of stake protocols is like saying that AOL's failure redounds on the HTTP protocol.
  - bavell 4y ago
    I think stablecoins are more or less a scam, but that has absolutely nothing to do with PoW vs PoS.
    - landemva 4y ago
      The USD stablecoin, backed by proof of army, is a fiat fraud propped up by gov't contractor known as "Federal Reserve".
    - eru 4y ago
      Do you think real existing stablecoins are a scam, or do you think stablecoins by their very nature will be scams?
0xRolex 4y ago
Heard about Avalanche ecosystem ?
cliftonk 4y ago
ethereum is changing its consensus mechanism to PoS later this year. when it does that, the only major PoW chain left will be bitcoin. all other smart contract chains with large userbases are PoS already.
- kravvall 4y ago
  I heard that for quite some time now, but Ethereum keeps pushing it back. That's why I was wondering if there is something working out there.
xorcist 4y ago
There are plenty, but none that are decentralized. They all use checkpoints or a trusted signer. Proof of work is a way to bootstrap consensus without a trusted party.

The projects mentioned in the article we are commenting on (or more accurately the chain they run on - Luna) are Proof of Stake. PoW is completely irrelevant here.

kravvall 4y ago
Yes, and it can't hold it's peg, that's why we are here. So apparently this is not a functioning project that is working (as in "can solve its proposed use-case")
- ClumsyPilot 4y ago
  Total non-sequetor PoS and stablecoins are two orthogonal arguments, one has no effect on the other. This is like arguing that electric cars are better than diesel, and you retorting: but this tesla crashed into a wall, see electric cars suck!
  - couchand 4y ago
    As a disinterested bystander, it sure seems like, "this coin failed" is a reasonable rebuttal to the argument that this coin is an example of success.
    - ambrozk 4y ago
      You may be disinterested, but you're not informed. The people above you are not arguing about whether LUNA is a successful coin in general, but over how it reflects on "proof of stake" vs. "proof of work" protocols. If you think LUNA losing their peg is a good argument against PoS, you don't know enough about cryptocurrency to judge these arguments. LUNA's peg to the dollar is ensured with a scheme that has zero to do with either proof of stake or proof of work. Saying Luna's failure redounds on proof of stake protocols is like saying that AOL's failure redounds on the HTTP protocol.
- bavell 4y ago
  I think stablecoins are more or less a scam, but that has absolutely nothing to do with PoW vs PoS.
  - landemva 4y ago
    The USD stablecoin, backed by proof of army, is a fiat fraud propped up by gov't contractor known as "Federal Reserve".
  - eru 4y ago
    Do you think real existing stablecoins are a scam, or do you think stablecoins by their very nature will be scams?

0xRolex 4y ago

Heard about Avalanche ecosystem ?

cliftonk 4y ago

ethereum is changing its consensus mechanism to PoS later this year. when it does that, the only major PoW chain left will be bitcoin. all other smart contract chains with large userbases are PoS already.

kravvall 4y ago
I heard that for quite some time now, but Ethereum keeps pushing it back. That's why I was wondering if there is something working out there.

xorcist 4y ago

There are plenty, but none that are decentralized. They all use checkpoints or a trusted signer. Proof of work is a way to bootstrap consensus without a trusted party.