Let’s face it, the GPU market now is in shambles. I’ve been in the market for a new Nvidia 3080 since November 2020 and every day, I look at GPU prices and gag a little. Cryptocurrency has been a curse on us gamers since its mainstream inception of 2017, and how naive of us to think that it died, just like the rest of the fast-fashion fads of the 21st century. But Nano has a solution.
Hi Spark, thanks for the comment. I do agree that its not very accurate. I was hoping to add additional resources if the reader wanted to further explore nano or just offer suggestions on what else they should look for.
As for proof of stake, it is my understanding that Nano uses a more specialised version of it called ORV (which the reader will find out if they decide to research further). However, I did not want to confuse the reader with new terms so I opted to try and 'classify' it as POS as it would sound more familiar.
If you have official resources that you have collated on these that I can add on feel free to DM me on discord or just comment them down here. I will add them in when I get the chance.
Classifying Nano as PoS is not only technically wrong, because PoS implies a coordinator, an elected node and a single signature validation of the block. PoS is bad, very bad, and Nano does not have such systems.
Just from my rudimentary knowledge of proof of stake, one of the main takeaways is that in order for a block to be considered valid and reach finality, accounts use their balance to vote on transactions, and PRs need to receive voting weight of the magnitude of >67% (as of v22).
Apart from the other characteristics that are different, isn't this what PoS is mainly about, and doesn't Nano use this method to determine transaction validity as well?
Again, I'm not saying that Nano is PoS, but is just merely something that uses a mechanism that is similar and can fall under the same umbrella.
Proof of Stake is when accounts lock stake at nodes and one of those notes are then randomly selected by a coordinator for signing a block and collecting rewards.
Your "PS" is weird... Nano does not use Proof of Stake... PoS is also competitive, ORV is a completely different (and beautiful) beast.
Hi Spark, thanks for the comment. I do agree that its not very accurate. I was hoping to add additional resources if the reader wanted to further explore nano or just offer suggestions on what else they should look for.
As for proof of stake, it is my understanding that Nano uses a more specialised version of it called ORV (which the reader will find out if they decide to research further). However, I did not want to confuse the reader with new terms so I opted to try and 'classify' it as POS as it would sound more familiar.
If you have official resources that you have collated on these that I can add on feel free to DM me on discord or just comment them down here. I will add them in when I get the chance.
Classifying Nano as PoS is not only technically wrong, because PoS implies a coordinator, an elected node and a single signature validation of the block. PoS is bad, very bad, and Nano does not have such systems.
ORV is not PoS, not even close.
Just from my rudimentary knowledge of proof of stake, one of the main takeaways is that in order for a block to be considered valid and reach finality, accounts use their balance to vote on transactions, and PRs need to receive voting weight of the magnitude of >67% (as of v22).
Apart from the other characteristics that are different, isn't this what PoS is mainly about, and doesn't Nano use this method to determine transaction validity as well?
Again, I'm not saying that Nano is PoS, but is just merely something that uses a mechanism that is similar and can fall under the same umbrella.
Proof of Stake is when accounts lock stake at nodes and one of those notes are then randomly selected by a coordinator for signing a block and collecting rewards.
You described ORV.