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That's just for mining, though. I can be part of the validation/consensus process for the BTC blockchain by running a node which you can run on anything with a
by fezfight 4y ago
That's just for mining, though. I can be part of the validation/consensus process for the BTC blockchain by running a node which you can run on anything with a 500gb hard drive. People use Pi's to do it. You need zero bitcoin to run a node. This is the difference.
- zaarn 4y agoYou can still run a node on ethereum for free? You aren't required to be a validator to run a node?
- fezfight 4y agoYes, but power in ETH PoS comes from the validation/staking. It's value comes from the validators consensus, no? Which you cant do without money. Or am I wrong? I'm trying to decide if I should get on board or not. If this isnt true, what is the point of staking?
- idiotsecant 4y agoYou're not understanding how ETH works. You can run a node for free, just like you can in BTC. In either case you aren't contributing to consensus, just the propagation of network information. IF you want to contribute to BTC consensus meaningfully you need some extremely expensive specialized hardware and power to run it. If you want to contribute to ETH you need a big pile of money. It's the same thing, just with extra steps in the case of BTC. Unfortunately in BTC those extra steps also consume enormous amounts of energy, which has a real-world environmental cost. There's basically no reason as far as I can tell to prefer requiring people to buy ASICs over requiring people stake money. In either case the people with the resources control the system, but at least in the case of ETH you can turn your staked ETH into the same amount of ETH you had before. Good luck reselling those ASICs for anything close to what they sell for.