Etn algo change from pow to pos/dpos/masternodes?


#1

I guess it would be wishful thinking for etn to change its algorithm from pow to pos right? don’t really know much about the ins and outs of blockchain but it would be nice to earn a little bit of interest every now and then while waiting for the time when etn will reach our “ideal” price.

how much work would etn team need to change its blockchain to another one? or is there a benefit changing from a pow to pos/dpos/masternode aside from stakers getting interest and lesser environment impact from mining with power hungry asics?


#2

ASIC’s are the most efficient form of mining, gpu’s are the power hogs. As for changing the entire blockchain it would just be easier to start a brand new coin! What we have is working perfectly smooth and like they say if it ain’t broke don’t try to fix it!


#3

Hmm… i realized that some new users came to this forum and etn based on the question they ask. New users are good but i think we need a start guide just to educate ppl about etn.
To answer your question etn will not change blockhain and will not implement any kind of interest.


#4

@crypto_Noob u should read this post about etn. Will help you to undestand more.
Happy Birthday Electroneum - A Visual Tour of the Past Year


#5

what about the saying: if it can be better, why not do it? hahha.

changing etn from pow to pos would not be beneficial as m-kid’s got 50 or so asic miners(info from your previous posts). that’s investment down the drain.

@s7ryker I know I’m a noob but I’ve been reading a bit and from the info coming out of this community and reddit, I learned a few limitations of etn blockchain:

  1. maximum transactions in a day about 90k+(figure not accurate, cant remember what exsactly it was, saw this from other posts). so what happens if there will be like millions of transactions on this network in a day? I (kinda)know that the transactions will stay in the mempool for a few days(5 I think)? under a 100k max transactions a day wont be enough to clear all these transactions though. now, i’m not a developer, so I don’t know if this is a simple fix.

  2. not everyone can afford or want to run an asic, but I know that there are lots of people whos got desktops/laptops that can be used to stake coins and make the bc more secure? since etn already is a hybrid fin tech company, why not build a hybrid bc that can accommodate asic miners, stakers and masternodes? hahah…

  3. I forgot the rest. :slight_smile:

@s7ryker “To answer your question etn will not change blockhain and will not implement any kind of interest.” so you know etn’s future plans? what if they suddenly change directions? can I message you and say “I told you so?” haha

p.s I’ve been holding since the ico. been there for the high’s and lows.

if I get banned for posting some of my thoughts here, then so be it. as long as I still have my access to my online wallet, then it will be ok… :joy:


#6

You will not be banned.
Yes, the maximum number of transaction about 90k but its hard to explain ill try…hmm think about etn instant payment API like a crypto-exchange so everybody moves etn in the insta api(exchange) and when he “cashes up” transaction is sent to the blockchain. So like on exchange you can make unlimited etn transaction but the blockchain will only record the send in and send out transaction. i believe this infrastructure is in testing for 20 mil users and it will be scaled up to 200 mil user. So those 90k=200k or 1 mil or 2 mil or whatever.welcome to the world of etn crazy
You misunderstand me. You are not a noob. I blame us for not being able to provide the best info to new users.
ETN is different and aim’s to be a payment system based on blockchain tehno design for mass adoption.
Everybody thinks that etn is launch but we are not yet. Etn is still in beta.
We will not have a hard fork in the near future because team tried that and didn’t go so well and because all infrastructure build till now will have to be changed also. No interest because Richard said he wants ppl to make transactions not to become bagholders.
You should watch videos with Richard and AAT on youtube. Have a nice day