What Hybrid mining means?

What Hybrid mining means?

What Hybrid mining means?

There are differing opinions regarding the using of POW mining-some are avid supporters, while others claim it is a waste of phisical resources. There are also concerns regarding security when it comes to POW it is vulnerable to 51% attack…

We had the example of Ethereum Classic attack few months ago …manipulating the blockchain to their advantage, preventing new transactions from being confirmed and having the ability to double -spend currency. The hardfork issued between Btc and btc cash revelead onother draw back of the POW mechanism, Bitcoin holders cannot participate in in any decision making and only a a minority of miners had the authority which is inverse to the philosophy of decentralisation.

The second mechanism, Proof of Stake allows users to mine for rewards using very minimal resources in terms of hardware and software, The creator of a new block is chosen by shareholders with large amounts of more coins ( having been hold longer ) being more likely to receive a reward. A positive aspect of POS mechanism is that there are- More People Mining the coins, there is also onother benefit -concentration problem, Individuals who own more cryptocurrency or a higher stake, will receive more dividents. This create a situation where those who can afford to hold more-receive more, and those who can afford few may be even waste resources in the form of electricity by keeping devices on in order to mine.

Adopting the Hybid POW+ POS census mechanism-can maximise user engagement, benefiting both parties POW ans POS. Both miners and holders can participate. The POS mechanism also implements a check and balance system. If there us a concensus mismatch in the network and a miner is suspected of being fraudulent then the majority of the holders can vote their mining to be deemed invalid. The POS mechanism also encourages holders to keep their coins in the wallet rather then on an exchange where is ready to be traded, and also has positive impact on ecosystem as people will focus on the applications of technology rather than short term fluctuations.

The adoption of Hybrid POW+POS guarantees the price from the POW side due to the relatively stable cost of mining. This is because the miners will not sell at a lower price then it cost to mine. Additionally the increasing cost of computing power will support the price, alleviating the centralisation problem of purely POS mechanism. Regarding security POW progress needs to be approved by POS therefore POW miners cannot change the rules by themselves which present the chance of 51% attack. this helps the network remain secure. A purely POS system is unstable and shareholders can easy generate fake timestamp history for fake blocks plus other vulnerabilities.

So Yes the best of Both Worlds POW and POS is Hybrid. If you want to be competitive miner-Invest in hardware or Webd CryptoCoins.

Cryptocurrency mining hybrid means
Cryptocurrency mining hybrid means