XRP gets more decentralized as Proof-of-Work-based cryptocurrencies face extinction

[Scout]

Another Bullish XRP article:
https://ambcrypto.com/xrp-gets-more-decentralized-as-proof-of-work-based-cryptocurrencies-face-extinction/

Bitcoin was the first cryptocurrency that was created and it uses PoW algorithm, which is how the transactions are verified and solves the problem of “double spending”. PoW algorithm consists of miners, who validate the transactions by putting in their resources and, hence, they are rewarded for the same. This process, which seemed good enough, will be relatively rejected by the miners as the reward for mining decreases after mining every 210,000 blocks.

Eventually, the miners will be left with no option, but to quit. Moreover, the PoW algorithm uses massive resources, which extracts a heavy toll on the world we live in. Furthermore, miners that are spread out across the globe is what makes the Bitcoin network decentralized, but it is also what makes it less decentralized and susceptible to attacks.

 

Edited January 21, 2019 by Scout

[Julian_Williams]

 

Six months ago XRP was on the defensive about decentralisation. The markets were rejecting investing in XRP because XRP was not decentralised, however this argument has now been rebutted and shown to be scaremongering and FUD

Now we are seeing the exact opposite,  BTC and ETH being attacked as not being decentralised and not fit for purpose.  This new theme that has really taken off these last few weeks - the ETC hack, the BCS fork, Galgitron and Hodor have all combined to get this message pushed out.  IE Investors are being asked to worry that Bitcoin, Etherium and hundreds of other crypto are becoming more centralised in the hands of miners (mostly Chinese), not environmentally friendly and not fit for purpose.

This is no small argument and no small shift.  It has the potential to be the watershed that will cause investors to lose confidence in the future of BTC and ETH and to move their funds across to PoS coins and XRP