I’ve seen individuals debate about it rather a lot. I acquired to be taught just lately why POW is healthier than POS and this Twitter thread explains it so effectively.
https://twitter.com/namcios/status/1529527133898432513?t=NVn0lXlRXpbh2IAqvuydcg&s=19
Edit: needed so as to add this to the criticism that miner management every thing about BTC: No no and large no.
I do not why this lie acquired out like this.
Node is the mainly the spine of the principles by which bitcoin is operating.
It’s so a lot misunderstood that Bitcoin is operating due to miners however no, it’s operating due to nodes that help the protocol and safeguards it is governance and guidelines.
If there are very much less miners on the planet and we preserve the nodes precisely the identical. Bitcoin will nonetheless run precisely the identical simply the community issue will lower for that small group of miner getting the btc rewards and charges.
However this cannot be stated vice versa. Instance BCH and BSV, all of them died as a result of they require heavy nodes.
Examine blocksize wars and you’ll get it.
Edit 2: One other criticism: If I management 51% hashrate, I can create a fraudulent block and grow to be wealthy (clearly paraphrasing from feedback)
In the event you management 51% of the hashrate and put any transactions ( could also be made up or fraudulent) apart from mempool transactions in each node on the market. When you’ll broadcast that block as mined, all of the nodes will reject that block and will not add it to the chain of occasions aka blockchain.
Solely your nodes will settle for it and also you department off the principle chain and there goes your 51% hashrate. Get pleasure from a branched off blockchain model which no different nodes determine as the actual reality aka bitcoin.
