What is the plan for Salad when Eth2 is completely rolled out and ethereum is fully PoS? As the Ethereum team announced yesterday, Eth2 (PoS) is rolling out in the coming months. What happens to salad when Ethereum is no longer PoW?
Maybe we’ll switch to PoS too? I know PoS has been in our team’s visor for some time now too, so maybe it we’ll move to it?
I’ve also moved your post to feature request, since it isn’t really community support in itself.
Have a nice day!
What are Pos and Pow?
PoW is Proof of Work.
PoS is Proof of Stake.
In Proof of Work, the way you get balance from crypto is by validating shares that have the most work put in to them, the largest amount of computational power.
This means that it works on a system of powerful hardware to crunch numbers to find valid shares, which is highly power consuming, and takes up hardware usage.
In Proof of Stake though, you’re no longer validating shares from the most work you have in them, but rather by the amount of money you own, and place at stake.
This is quite energy-effective, since you no longer need high hardware to be able to mine, nor do you need to have any hardware at all. A project you can look at for PoS is the Pi network, which has been rapidly developing in this sector, and then the soon-to-come Ethereum 2.
All in all, Proof of Stake might be the next alternative to PoW, because of the numerous advantages it holds in comparison (in terms not only of ecology, but also security). I’m not sure how Salad would be able to implement it, since as said, PoS revolves around the amount of money you already own and place in the system, but I know that the team is exploring this option quite seriously at the moment.
Maybe there’s a 30 minute buffer between when you earn eth and when it gets converted to usd, so that means there’s eth to stake.
No, that’s not how it works…
Right now there is no stake factor in the way you mine…
In what you say
earn eth, the whole point is that you get that eth by staking, not staking it after you have it, since the whole point of PoS is to completely remove that mining part for crytpo.
Especially since there is no 30 minute buffer between earn and conversion.