How to Change Language in GIMP When Language Doesn't Change in GIMP or Problem with Adding Russian Language

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Who wins in the end

 Who wins in the end

PoW and PoS are two different worlds that have only one thing in common - the goal in the form of obtaining coins. It should be understood that projects built on the principle of proof of work may sooner or later be able to switch to Proof of Stake. The fact is that in the case of limited emission, which is one of the key elements of maintaining the value of the coin, along with an increase in the complexity of mining, the total number of coins for mining will sooner or later come to zero. In this case, the miners will lose the opportunity to earn money, and the project itself will have to look for other solutions to work with the participants in its system.
Speaking about who will eventually win, the more modern PoS, which takes into account the needs of modern users and is less harmful to the environment, definitely takes the lead. However, at the same time, PoW will forever go down in history as a consensus, thanks to which a huge number of people learned about the possibilities of earning on cryptocurrencies, and the mining industry itself was born.

Disadvantages of the PoW algorithm
The Proof-of-Work algorithm is effective in protecting blockchains and personal data from hacker attacks, but it has a number of disadvantages:

Decrease in mining profitability. The complexity of calculations is regularly increasing, so miners are forced to buy expensive modern equipment that consumes a lot of electricity.
Increasing the centralization of mining. Bitcoin, for example, should only be mined on expensive ASIC devices. Such equipment is not available to ordinary users, as a result of which a small number of users are involved in the mining of coins. Since only a few benefit from mining, the decentralization of the network is gradually discredited.
Negative impact on the value of cryptocurrencies. When the supply of coins is limited, PoW artificially increases the complexity of the calculations, so mining becomes unprofitable. With unlimited emission of coins, the reverse situation occurs: uncontrolled mining devalues ​​the coins.
Futility of calculations. New blocks are constantly generated, miners consume a lot of energy. But the calculations that the system generates have no practical application. They are not used anywhere except for mining.
The theoretical possibility of a “51% attack” can also be attributed to the disadvantages. I specifically ranked this factor among the strengths and weaknesses of the algorithm. In reality, this situation is unprofitable, since entire power plants are being built for the extraction of coins, the computing power of which cannot be surpassed. But if we consider little-known or new cryptocurrencies, it is theoretically possible.

Disadvantages of Consensus
Proof of work also has some disadvantages.

Huge computing power.
To work on hashing, considerable power is required: for example, bitcoin mining on relatively cheap video cards will not work, powerful miners are required, costing many hundreds of thousands of rubles. In addition to the cost of expensive equipment, you will also have to spend money on energy, and these costs can be quite high. For example, the largest Russian mining farm spends, according to rough estimates, about 6 million per month “on light”.

Increasing network centralization.
This point follows from the previous one. As the complexity grows, the cost of equipment ceases to be available to “ordinary” users, only large communities of miners or wealthy people / companies with powerful mining farms can mine blocks and confirm transactions. And this leads to centralization, as the owners of large capacities begin to dictate the rules of the network. Loners with little ability to mine can no longer.

High power consumption and the uselessness of computing.
Miners consume huge amounts of electricity, but the calculations they produce do not go anywhere except for the needs of the network itself, that is, the power is spent, in fact, almost in vain. Today there are no solutions to use the results of these calculations for any other purpose.

Ecological aspect.
Energy costs are forcing energy producers to make more electricity by burning large amounts of fuels, including fossil and non-renewable ones. This depletes the planet's resources and increases environmental pollution.

Exposure to attack "51%".
In general terms, it was described above: an attack is possible if the attacker controls 51% of the network hashrate or more. An attacker can interfere with the course of transactions, canceling them and carrying out other manipulations, since his powers are higher, which means that it is “his” chain that will be accepted, and not a legal one.

Today, such attacks are hardly feasible due to the extremely high hash rate.

What other consensus algorithms are there
In addition to PoS and PoW, there are a number of proof mechanisms that are used in the blockchain:

Delayed Proof-of-Work (DPoW, delayed proof of work). It is a hybrid consensus method that allows one network to take advantage of the security of another blockchain. This is possible thanks to notary nodes that transfer information from the first blockchain

and in the second. Thus, hacking one network is impossible without hacking the second one. The DPoW algorithm was first applied in the Komodo project, which is compatible with the Bitcoin blockchain.
LPoS (Leased Proof of Stake). The bottom line is that the more nodes generate blocks, the higher the security level of the blockchain. Some networks require high deposit rates, not all users can afford to become miners, which is why their number is reduced. This problem can be solved by renting out own funds to larger nodes and thus receive a percentage of the reward.
PoI (proof of importance). Proof-of-Importance, in addition to the amount of funds in the account, takes into account the reputation and activity of the participants. This is an advanced model of the PoS algorithm that motivates participants to be active and make as many transactions as possible on the network. The PoI algorithm is used in the NEM blockchain.
DPoS (Delegated Proof of Stake). Each participant who has made the minimum contribution has the right to delegate his candidate for the extraction of blocks. It is reminiscent of elections: the participant whose candidate is on the list of the elected receives dividends. In the Lisk system, for example, the list of miners consists of 101 members. This algorithm is also used in Cardano, BitShares, RaiBlock blockchains.
PoQ (combination of PoW and PoI algorithms). Similar to PoI, the PoQ mechanism uses activity metrics, while the PoW algorithm is used for mining. Such a mechanism is implemented in the DollarBit blockchain, which is often compared to Bitcoin. Cryptocurrencies are mined in a similar way, but in the DBIT system, the activity and behavior of miners is controlled using the CryptoBank tool, which calculates the participation rate, regardless of the amount in the user's wallet.
PoC (proof of capacity). The Proof-of-Capacity method is based on providing disk space. This algorithm has varieties: Proof-of-Storage, Proof-of-Spase. Hard drive mining is implemented on the BurstCoin blockchain.
PoA (proof of activity). A hybrid mechanism that combines PoS and PoW algorithms. Proof of work is responsible for the generation of new coins, and proof of stake is responsible for the annual income from the deposit. This method does not allow manipulation of block generation, even if 50% of all powers are concentrated in the hands of the participant. To do this, you need to have another 50% of the coins. Proof-of-work blockchains Nxt, Oracles Network.
BFT (Byzantine Generals Strategy). The transparency of the network and the correct recording of transactions are provided by generals (validators) who manage the state of the network, make fast payments and exchange messages. This algorithm is used in the Ripple system. Validators are pre-selected by the Stellar and Ripple funds. All users who have received the trust of the community have a chance. Blockchains based on BFT are not attacked. Unless the network members themselves provoke the attack. This algorithm is characterized by scalability and low cost transaction coverage. But BFT has one significant drawback - components that contribute to the centralization of the network.
PoB (Proof-of-Burn, proof of burning). Miners send part of the earned coins to the burn address - a special wallet from which coins cannot be returned back. The more coins "burned" by the participant, the higher the chances of becoming a miner. The algorithm encourages regular burning by reducing the statistics of the coins listed on the burn address. This concept involves making a profit for confirming blocks even after “burning” some of the coins. The PoB algorithm does not require powerful hardware; you can mine cryptocurrency on a regular PC. The energy consumption is thus minimal. The PoB algorithm is used in the Slimcoin blockchain.