EOS Dan Larimer: Proof Of Work (PoW) Blockchains Harder To Upgrade Than Delegated Proof Of Stake (DPoS)

    Delegated Proof Of Stake Chains Are Easier To Upgrade Than Proof Of Work Networks, Daniel Larimer Affirms

    The Chief Technology Officer of, Daniel Larimer, has recently talked about the proof of stake system., the company in which he works, was able to raise over $4 billion USD from several projects like EOS, one of the largest blockchains in existence today.

    Recently, Larimer has affirmed that proof of work chains will eventually become all centralized and that it will be very hard to create a new resistant proof of work after the quantum leap in computation is finally discovered.

    Proof of stake, in case you are not familiar with the term, are networks in which some node validators stake their tokens in order to validate transactions. In EOS, the process is delegated to elected parties, not only done by individuals. Proof of work, on the other hand, relies on miners, people who solve complex equations to validate the transactions.

    According to Larimer, who is a computer science graduate from the Virginia Polytechnic Institute, delegated proof of stake (DPos) will remain decentralized independently on what will happen with the technology. PoW technology will not have the same luck, he affirmed.

    Can Well Designed Blockchains Enable Incentivized Free Speech?

    During the same occasion, Larimer talked about freedom of speech and the blockchain technology. He said that freedom of speech was “too valuable to be free”, so he suggested a platform in which people can bid for an opportunity to talk and others will pay to listen.

    He is known for having several ideas for blockchain projects (but most of them do not actually pan out into something real). For instance, he has once talked about how all businesses would end up using the blockchain in the future because there are many problems that can be only solved with this technology and the companies would have huge liabilities if they did not decide to use the blockchain.

    Get Free Email Updates!

    *Action* Enter Best Email to Get Trending Crypto News & Bitcoin Market Updates

    I will never give away, trade or sell your email address. You can unsubscribe at any time.

    Gabriel Machado
    Brazilian journalist who is interested in the future of the financial world. Has a special interest in the blockchain technology and the global financial markets. Covers economic and technology news with a focus on the fintech industry and has been writing about the cryptocurrency market since the start of 2017.

    [Alert] Use the author's self-conducted information at your own risk, do you own research, never invest more than you are willing to lose.

    [Disclosure] The published news and content on BitcoinExchangeGuide should never be used or taken as financial investment advice. Understand trading cryptocurrencies is a very high-risk activity which can result in significant losses. Editorial Policy \\ Investment Disclaimer


    Please enter your comment!
    Please enter your name here


    Live Bitcoin Price & Latest BTC Charts

    Today's Latest Crypto News

    Coinbase Upgrades Wallet App to Simplify Crypto Transactions In A Bid to Boost Adoption

    Coinbase exchange has announced an upgrade of its digital wallet in a bid to make crypto transactions much easier. According to a blog post...

    Bitcoin’s Correlation with S&P 500 Jumps to A New High, But So Does With Gold

    Bitcoin’s correlation with both equity market and precious metal climbs to an at all-time high Bitcoin busted the myth that it can’t be...

    Former Olympic Wrestler and UFC Fighter Ben Askren Promotes Bitcoin With Twitter Handle

    UFC fighter Ben Askren changes his twitter handle to ‘Bitcoin Halving May 13 in a bid to promote to the BTC community with halving...

    Ether Price Undervalued But The Fundamentals Are Not Looking Good

    After a bad March, ETH price seeing greens, MVRV Ratio says ETH undervalued While Bitcoin active addresses on the rise, Eth’s declining but...

    Microsoft Joins Blockchain for Social Impact Coalition Initiative For Virtual Earth Day Hackathon

    Microsoft is set to support the Blockchain for Social Impact Coalition (BSIC) program whose winners will be rewarded during the Global Virtual Earth...

    BitcoinExchangeGuide is a hyper-active daily crypto news portal with care in cultivating the cryptocurrency culture with community contributors who help rewrite the bold future of blockchain finance. Subscribe on Google News, see the mission, authors, editorial links policy, investment disclaimer, privacy policy. Got News? Contact us, we are human too. Note: nothing here is financial advice, do your own research thoroughly.