4

So, I am new to the entire crypto currency idea although, I am a software developer and I have been planning for years to create a CRM that is fully autonomous and exceptionally secure. Ether's code will allow me to do just that through blockchain. This is something I have been working for the past 2 years and once I have a demo. I will be more than happy to share it with you when the demo is ready.

Although, I have been introduced to the idea of POS and although it does add a layer of security I was thinking.... that many miners might abandon the daily mining hence, the CRM app that I am planning might stop performing if there is no miners to handle the request.

As I said, I am new to the whole idea of BlockChain and I might have misunderstood the whole “POS” concept when it comes to the miners.

Try to give me some insight. Thank you in advance.

1

POS is a consensus protocol which aims to replace the POW waste of computing power and electricity (bitcoin consumes as much electricity as Denmark by 2020). In POS, the miners will still be here, but they are chosen in a deterministic way, depending on their stake.

  • 1
    With pos is better to call them "validators" instead of "miners". – underdog Jul 12 '17 at 13:15

Your Answer

By clicking “Post Your Answer”, you agree to our terms of service, privacy policy and cookie policy

Not the answer you're looking for? Browse other questions tagged or ask your own question.