56 votes

What's the difference between proof of stake and proof of work?

Let us start by what they have in common: they are both algorithms for reaching consensus on the blockchain. Without going into too much details, we need consensus because anyone can create a block; ...
Symeof's user avatar
  • 1,434
55 votes
Accepted

What proof of work function does Ethereum use?

The PoW algorithm used in Frontier and Homestead is called Ethash, and it was created specifically for Ethereum. The primary reason for constructing a new proof of work function instead of using an ...
Jeff Coleman's user avatar
45 votes
Accepted

What is the total supply of Ether?

From reddit post 60 million + 12 million + 18million = ~90million 60 million - is the Pre-sale. 12 million - is the dev fund, 0.2coins per 1 coin sold in the crowdsale. ~18 million - 1 million coins ...
niksmac's user avatar
  • 9,663
34 votes
Accepted

What's the difference between proof of stake and proof of work?

The goal of a consensus algorithm in a public blockchain network is to let many different users agree on the current state of the blockchain even though they don't trust each other or any central ...
Jeff Coleman's user avatar
25 votes

What is the total supply of Ether?

The issuance model is not fixed yet. It is an ongoing discussion whether or not the costs for the consensus needs to be financed by inflation that basically taxes every coin holder or if transaction ...
mKoeppelmann's user avatar
  • 7,596
22 votes
Accepted

Is Ethereum ASIC resistant?

According to the Ethereum white paper: The current intent at Ethereum is to use a mining algorithm where miners are required to fetch random data from the state, compute some randomly selected ...
Mike Shultz's user avatar
  • 1,212
18 votes
Accepted

Can Proof of Stake (PoS) improve the number of Transactions per Second?

Block time in Ethereum's Proof-of-Stake system (called Casper) is being conservatively targeted at around four seconds. Vlad Zamfir of the Ethereum Foundation believes the block time will ultimately ...
Mike Goldin's user avatar
16 votes

What is the total supply of Ether?

From StephanTaul on the Ethereum Forums on September, 2014: There is no maximum. 60,102,216 ethers were created during the sale, plus 2x pools of 9.9% each. 26% of 60,102,216 will be created through ...
tayvano's user avatar
  • 15.9k
13 votes

What's the difference between proof of stake and proof of work?

Short version - POW requires miners or physical computer to be turned on and processing the transaction. This can be inefficient since better computers are created and optimized for mining which may ...
high110's user avatar
  • 4,756
12 votes
Accepted

What kind of hardware is required to mine on Ethereum?

You can mine ether using your computers graphics card(s) (GPU) as long as it has enough memory to hold and access the DAG efficiently. To be efficient and competitive you should select a card with ...
Fabian Vogelsteller's user avatar
12 votes

Will a higher stake make more money in PoS?

It's counterintuitive but PoS is fairer than PoW (as we know it). Economies of scale: a proportionate saving in costs gained by an increased level of production. http://www.investopedia.com/terms/...
Roland Kofler's user avatar
11 votes

What is the total supply of Ether?

EDIT: August 2022 Total ETH supply: ~119,300,000 ETH (as of Q2 2022) With Proof of Stake, the annual issuance rate will be ~0.49% (with 13 million ETH staked)). This is a daily issuance of ~1,600 ETH. ...
eth's user avatar
  • 85.4k
10 votes

What is the total supply of Ether?

At the point of writing this the supply of ether is still "infinite". Every 15 seconds two new Ether are generated. Currently we are at 107,682,753.47 Ether. These are from: Genesis (60M Crowdsale ...
cqx's user avatar
  • 3,452
10 votes
Accepted

Are miners eliminated in Proof of Authority?

It's a joke. However, Ethereum does eventually plan to move to Proof of Stake, which is intended to replace mining.
Edmund Edgar's user avatar
  • 16.9k
9 votes

What's the difference between proof of stake and proof of work?

the_truth = Agreed data structure (Block) containing valid future state of the ethereum virtual machine (and related information) as calculated by me using the rules set out in the yellow paper. rand ...
Lee's user avatar
  • 8,488
8 votes

What is the total supply of Ether?

After the implementation of Casper, I believe the rate is expected to be fixed and miners will earn from both mining fees and fees offered up in other on-chain tokens or currencies/assets. However, ...
high110's user avatar
  • 4,756
8 votes

What proof of work function does Ethereum use?

The PoW algorithm used at the moment is the Ethash algorithm. In this wiki you can find the description of the algorithm and here you can see what was the design rationale behind Ethash.
Lefteris's user avatar
  • 250
8 votes

How to check if a transaction is still in the blockchain?

No, there is no difference in this case-- they are essentially equivalent. If the tx is orphaned, they should return null, but you should still check the block number because it may have been added to ...
Tjaden Hess's user avatar
  • 36.9k
7 votes
Accepted

PoS, how will it prevent 51% attack?

Wouldn't it be possible for a government seeking to destroy the blockchain just "print out" the money for getting 51%? Possible? Yes. But then this isn't any different to the current situation ...
Richard Horrocks's user avatar
6 votes
Accepted

How does Ethereum avoid mining pool centralization?

There are two primary ways that the existing PoW based consensus algorithm combats mining centralisation. The first is by reducing losses due to orphaned blocks, which independent miners are more ...
Jeff Coleman's user avatar
6 votes

Is it possible to issue an Ethereum token with its own proof of work algorithm?

A token on Ethereum is basically a balance in an Ethereum contract. A contract could be programmed to issue tokens when it receives its own proof of work. (double sha256 is readily available, since ...
eth's user avatar
  • 85.4k
6 votes

With POS, will Ether stay be a necessary fuel to run the network?

It is absolutely necessary, because any form of Proof of ... requires those who secure the network to be rewarded. The goal of any consensus form is to attract many nodes to a game like roulette. The ...
Roland Kofler's user avatar
6 votes
Accepted

What algorithm Ethereum use POS(proof of shake) or POW(proof of work)?

Ethereum currently uses a Proof of Work algorithm called Ethash, implementation details of which can be found on the wiki. The plan is to move to a Proof of Stake algorithm called Casper at some ...
Richard Horrocks's user avatar
6 votes
Accepted

How is the Two Generals Problem solved with proof of work?

Proof of Work like proposed by Satoshi doesn't solve the Two Generals Problem or the more generic Byzantine Generals Problem. It's a probabilistic solution to the Byzantine Generals Problem, which ...
ivicaa's user avatar
  • 7,519
5 votes

What kind of hardware is required to mine on Ethereum?

You will need at least a 2GB RAM on your GPU to actually mine. CPU will be extremely hard to make any money unless you use a pool. Here's some resources: https://www.cryptocompare.com/mining/guides/...
high110's user avatar
  • 4,756
5 votes
Accepted

Why does Ethereum POW work fine in spite of short confirmation time?

Ethereum uses the GHOST (Greedy Heaviest Observed Subtree) protocol to combat the problem generally associated with short block times. Stale blocks With lower block times the amount of blocks found ...
Maran's user avatar
  • 1,835
5 votes
Accepted

Can the PoW problem be changed without a hard fork?

In the future there will be move to a proof of stake algorithm called Casper, which will require a hard fork because such changes are not backwards compatible. There has already been a hard fork: ...
Physes's user avatar
  • 1,308
5 votes

With POS, will Ether stay be a necessary fuel to run the network?

It's necessary, because the miners or "validators" put some money on stake. Here is a description of the finality circle by V Butterin, which gives some good explaination of how it works : http://...
yoregis's user avatar
  • 1,242
5 votes

How is the Two Generals Problem solved with proof of work?

PoW (or in fact any consensus algorithm) can't solve the Two Generals/Byzantine Generals Problem. It can only provide a very high and easily verifiable certainty of a transaction being correct. A few ...
Grunzwanzling's user avatar
5 votes
Accepted

Can't we incentivize miners to include more transactions in their block?

Blocks that are fuller, and contain more transactions, both propagate around the network more slowly and take more time for other nodes to validate1. Both of these things increase the chance of a ...
Richard Horrocks's user avatar

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