Cardano for Bitcoiners: Intrinsic Value Proof of Work vs Proof of Stake (Part 2)
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- Опубліковано 3 сер 2024
- Episode 2 in this multi-part series Cardano for Bitcoiners explores common misconceptions and criticisms about the Cardano blockchain that largely stem from the Bitcoin community. Part two will analyze the intrinsic value of proof-of-work and proof-of-stake consensus mechanisms to understand how they match up. In blockchain the proof of work and proof of stake debate continues to roll on, which adds more intrinsic value, is more decentralized, scalable and secure? All extremely important questions the answers to which are often muddied by tribalism and misinformation, fueled by the desire to protect self-interest over driving real innovation. If we truly want this industry to succeed it’s high time we take a more objective approach. Proof of work and Proof of stake are riddled with trade-offs but the consensus amongst many bitcoiners is that Proof of work is far superior. Here we will unpack this opinion to understand: are all proof of stake blockchains the same, in what aspects do they excel and can a blockchain ever produce Bitcoin level security with a PoS consensus mechanism?
Watch Cardano for Bitcoiners Part 1: The Myths and Misconceptions: • Cardano for Bitcoiners...
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Timestamps:
00:00 - Intro
01:30 - PoW vs PoS Explained
03:09 - Physical vs Synthetic Resource
10:37 - Peasants vs Kings
12:49 - Government Interference
16:16 - Bitcoin Level Security with Ouroboros
19:54 - Multi-Resource Consensus
21:06 - Proof of Useful Work
22:30 - Outro
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*Sources/Links mentioned:
Cardano & Bitcoin energy consumption comparison: www.essentialcardano.io/artic...
Cardano SPO: cardano.org/stake-pool-operat...
Multi-Resource Blockchain Consensus: iohk.io/en/research/library/p...
Proof-of-Useful-Work: iohk.io/en/research/library/p...
Ouroboros Genesis: iohk.io/en/research/library/p...
Implementations of Ouroborus: iohk.io/en/blog/posts/2022/06...
Ouroboros Genesis article: iohk.io/en/blog/posts/2023/02...
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#bitcoin #cardano #blockchain
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Disclaimer: This Video is NOT financial advice, all topics discussed are my personal opinions or information obtained from my own research. Always DYOR (Do your own research) - Наука та технологія
Thanks for watching! For more Cardano insights please like, share and subscribe!
The PoW and PoS debate rolls on! Are all PoS blockchains the same, in what aspects do they excel and can a blockchain ever produce Bitcoin level security with a PoS consensus mechanism? Let's discuss in the comments...
If you find value in the content you can also help support the channel using ADA handle: $sapien
See you in the next one and keep it Cardano!
CARDANO LEGION here !
👋 thanks for tuning in!
Cardano is a technologically superior blockchain. We have the best technology, strongest community and most attractive ecosystem with unlimited potential. Great video SAPIEN. Always looking forward to the next one.
I knew I could rely on you Heavy to pull up and spit some truth! Thanks as always for the support a real OG 💎
So was BetaMax. VCR won. Technologically superior does not guarantee succss. Wake me up when Charles is voted out. Staking is no longer viable at .0323 ROI.
@@justjude1101 you can't vote individuals from a decentralized system. Technologically superior gives us a great chance in realizing the true vision of crypto, not top 10 by market cap. I'd be interested to hear your idea of success for a blockchain? From where I'm standing Cardano is proving to be an incredible success.
Here it is. We can stick to tribalism or we can choose a productive path forward for blockchain technology.
Bitcoin was a good start, but it is clear...
#Cardano is leading us into a bright future!
It’s time for the industry to open its eyes and minds
Awesome, high quality content. Bravo 👏 ADA all the way 🚀
I appreciate that! Glad you find value and thanks for the support.
Excellent video
Thank you very much!
Hey S₳PIEN, Great explanation of the most common consensus models. Thanks and have a great weekend! Keep it Cardano!
Thanks Dorian have a great weekend!
Yessssss!! Been waiting for #2 Sapien 👍...worth the wait, every time 👍
😍
I like your content because is full of FACTS!
there is no manipulation or bending on a narrative. Grate JOB! Thanks
Hey appreciate you bloodsville! Glad you enjoy the content and hope to see you in the next one 👊🏻
Thanks Sapien!
❤❤ thanks Sapien high quality and informative as as always
Thanks Ryan have a great weekend ahead 🫡
Thanks for sharing your insights! I really enjoyed the video.
Appreciate you CM thanks for tuning in!
Thanks Sapien, great video.
Evening FastJet thanks for tuning in 🫡
You dont miss!
Ah thanks, appreciate you 👊🏻
Love this video, accurate, detailed and well delivered. First I’ve seen but I’ll be subscribing to more. I wonder if Sapien knows that one of the Yeovil council members is a big supporter of Cardano and only Cardano. It’s slowly proving itself to people outside the space that it’s more than just another cryptocurrency
Hey thanks amazing comment, appreciate the support for the video. About Yeovil council no I wasn’t aware but that’s awesome to hear! I love seeing Cardano spread outside of what we would consider the crypto space. It’s a great sign that yes Cardano is indeed far more than just another cryptocurrency. Hope to see you in the next one 👊🏻
Love this series
Thanks really appreciate the support here!
Economic systems traditionally relate to energy usage in that the most successful economic systems are also the most efficient in the manner with which they allocate resources. Then there's Bitcoin where its purposeful waste of energy resources is claimed to be its main feature.
Yeah, as a bare minimum Bitcoin should at least consider proof of useful work. How long can they keep ignoring the fact that this technology is moving on and fast. Real adoption will eventually gravitate to the most energy efficient.
Great analysis
Thanks JJ great to have you here 😉
Dont know why But i Just saw your new Videos in my feed But have Not been for months.
Hey, I had taken an extended break from UA-cam but I'm back making videos again. Hope to see you in the next one!
Quality material
Thanks Nelson appreciate the kind comment. Hope to see you in the next one ☝️
Excelente
🫡
Well Done Brother 🍻
Thanks for tuning in 👊🏻
❤❤ SO helpful thank you
Legend, thanks for tuning in 👊
Thanks S₳PIEN
Hey Brody thanks for dropping by 😉
Carbon as store of energy based effort
Yes human energy is also based in physics.
Very much so in fact I place more value on this from an adoption perspective.
Shared to my normi friends but unsure they watch it
Sharing is caring my friend thank you 🙏
I keep reiterating that proof of work is a subset of proof of stake. Hardware and power consumption is stake in the network.
I like the way you frame it 😎
Would you consider Kaspa to be the upgraded version of cardano if they are successful with their smart contracts rollout
I struggle to consider anything an upgrade on Cardano to be fair
Cardano is Bitcoins evolving/evolved form 😈
😎
9$
PoS is not a security protocol. It relies on several systems working together to achieve validation. PoS is for sale to anyone who has enough money to purchse 51
Not a security but incredibly secure. 51% is valid but extremely difficult to execute. The future of adoption will rely on secure PoS systems.
PoS is very much to ensure secure operation of the network. Ouroboros is a provably secure hybrid of Proof of Work / sort of Proof of Merit. PoW is just more convoluted because you need to purchase all the mining equipment. If you do not have money to purchase mining equipment, you cannot mine. Time to put religion aside and look at the basic facts.
Thanks Mati this was perfectly framed.
Buying up compute to attack bitcoin is easier. We use compute for many other things, and the amount of compute available is going up rapidly along with non bitcoin demand for that compute. If bitcoin doesn't go up in value as fast as the AI industry, then it is inevitable that someone will decide to take advantage and attack Bitcoin successfully with their repurposed AI compute, and no one in bitcoin will see it coming. In contrast, if someone tried to buy up 51% of Cardano, one, everybody would see it happening and know it was for an attack, two everyone would start hodling and the price would go insane as a result of the incredible PR of the newly invested billions of dollars(thus meaning the attacker would probably have to invest trillions or spend decades slowly acquiring), and three, the attacker would be attacking themselves more than anyone else. There's just no angle here where bitcoin is safer than Cardano from a 51% attack.
Cardano - Most developed
Cardano - Argentina adoption
Cardano - WorldMobile
Cardano - Dex
Cardano - Dubai Police
Cardano - Voting in the U.S.
Cardano - Cornucopias
Cardano - Meld
Cardano - petrobas (Brazilian Oil company)
Cardano - Huawei partner
Cardano - Most secured, best developed, robust, de-centralised blockchain out there ❤
Super comment 😎
These videos will never work to convince any bitcoiner about the goodness of Cardano for one simple reason: you spend more time criticising Bitcoin (for example the section about mining and centralization) and doing "Cardano is superior to Bitcoin" statements, than truly explaining the merits of Cardano's PoS in themselves, In fact, the video has 20 minutes of unhelpful fluff, and then when it's finally time to explain WHY and HOW exactly does Ouroboros Genesis achieve Bitcoin-like security, you just go "trust me bro" and give no explanation of such a huge claim. I say this holding both BTC and ADA. You should redo them, because their do have a lot of value, but losing all that stuff that will 100% guaranteed put off and cause hardcore bitcoiners to simply react against your good points because you're attacking BTC.
Hey appreciate the feedback, sorry you feel this way about the video (unhelpful fluff, trust me bro and criticizing Bitcoin to much) while I take this on board If there is an element where Cardano is superior then I'm going to say it, throughout the entire series I've been critical of both Bitcoin and Cardano. What I will say is that I do explain both PoW and PoS and reference the clear advantages of PoS throughout the video. I provide a clear breakdown of physical vs synthetic resource offering an alternative perspective here. The same goes for mining pools vs SPO's, these are topics Bitcoiners often use to criticize Cardano (not fluff but exploring topics that stem from the Bitcoin community and make for interesting conversations). I take your point about 'bitcoin level security' this could have been explained in more detail regarding Genesis but I was referring to the research that anyone can go verify (linked in video description). I guess the proof will be when this is live, the point is the research and development was done specifically to realize Bitcoin level security in a PoS system. My intention is not to convince hardcore bitcoiners (this is a lost cause) but instead those with an open mind.
Bitcoin lives rent free in Cardano's fans minds.
This is not about fans or tribalism but the technology and to the benefit of the industry as a whole.
I'm sure that's why you are here😅
@@drsjlazar so you know why I am here?
@@S-PIEN my reply was to Daniel
@@drsjlazar yikes triggered 😂my apologies! Sorry for that it all makes sense now and yes exactly what I was thinking 😍 (forgive my quick triggered response)