Source
m4ktub1st•

Thanks for pointing out. That's interesting.

Just two miner issues with your title. Avalanche is not a PoS consensus algorithm. PoW ia not going anywhere.

15
etherbidOP•

From: https://medium.com/zkcapital/demystifying-snowflake-to-avalanche-966f56c33fd7

Quote:

Avalanche

Avalanche comes in and combines the best of both world’s, in particular,

Quick finality and low latency: That is, it takes around 2 seconds to achieve finality across the globe. This basically means that after 2 seconds, you can get your payment processed and verified. Higher throughput: 1000–10,000 transactions per second. Robust: The network does not need to agree on who the participants are to achieve undeniable consensus. Quiescent protocol: Most importantly, the protocol is green. That means that it is sustainable, it does not waste any energy, and that there is no special ecosystem of miners with their own separate interests from the users. (emphasis mine)

You will see that there is no "Proof of Work" when no transactions are being processed

3†
tcryptOpenBazaar•

Avalanche not only still allows PoW to continue, but it requires a sybil prevention mechanism like PoW to function securely.

14
m4ktub1st•

OMG, sentences in bold! /s

Avalanche is a consensus protocol. It's neither a Proof of Work consensus algorithm or a Proof of Stake consensus algorithm. The information that was made available puts Avalanche "over" mempool acceptance, that is, Avalanche is used to quickly confirm a transaction as accepted or rejected in the next block. Mining and PoW continue as today with the difference that a block maybe orphaned if it violates the pre-consensus.

As you can see, there's no PoS. Not everything that's not PoW is PoS.

8
matein30•

Avalanche can use POS or POW. Almost instantly secure txs, that is what i want from a p2p electronic cash.

6
etherbidOP•

https://medium.com/zkcapital/demystifying-snowflake-to-avalanche-966f56c33fd7

-8
matein30•

I think you are mistaken about Avalanche usage in bitcoin cash. We will not use as concensus algorithm. We will use it as pre-concensus, to prevent double-spends via orphaning blocks that contains conflicting txs to avalanche with good old POW SHA256.

13
etherbidOP•

We will use it as pre-concensus,

In other words, not consensus.

I kept warning people here for months that ABC's roadmap will turn BCH into an altcoin and it's all happening very fast.

This is absolutely terrible. They are holding the 32 MB block sizes hostage while they ram through changes intended to bend BCH into an altcoin.

Bitcoin is not broken!

Bitcoin did not need fixing!

All we needed was to remove the caps and optimize the node (and not change the fucking bitcoin protocol consensus rules)

Unfuckingbelievable

-2†
matein30•

https://www.youtube.com/watch?v=TIt96gFh4vw there is scientific evidence that bitcoin is a little broken when it comes to 0-conf txs and need fixing.

pre-concensus is not against concensus, it is just a helper.

8
tcryptOpenBazaar•

Good thing you have your own altcoin that will remain pure in its roots as Craig's seed.

7
Chris_PaciaOpenBazaar•

Bitcoin did not need fixing!

Sure, if you don't care about scalability, instant transactions, or 51% attacks.

4
pafkatabg•

I have already accepted that BCH no longer exist. ABC killed it quite fast.

I don't like CSW either, but at least there's still a chain which has not fucked up the protocol.

1
Ant-n•

In other words, not consensus.

Yes.

1
redmoonrisesRedditor for less than 60 days•

lol you guys are so fucking dumb and predictable.

I saw all of you on the SV telegram discussing this "Avalanche is bad m'kay" narrative, and magically 10 posts in the past few hours about this have appeared about it.

More and more now I actually do hope that a few merciful miners re-org SV into the ground and put it out of its fucking misery.

5
Maesitos•

Be ready for the downvotes

1†
Giusis•

It's all written in the Bitmain scheme.... by long time.

-2†