Yes..... but what is the point of having many miners?
Users are more useful to a currency. POW costs energy, POS does not and is an incentive to invest.
Remember that 'mining' (as in POW) has only one goal which is to randomly select someone to provide the next block.
RE: Bitcoin Cash ... a lesser Dash?
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Bitcoin Cash ... a lesser Dash?
The problem is, the race to mine Bitcoin created a market for over-supply in miners. So whether leads like Ver know it or not, they are susceptible to supporting the 'establishment' of cryptocurrency.
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Users are useful to a currency because more users means more stability and speed. Specifically, more value stored and more value traded. (for the network as a whole)
More miners means more transactions can be secured more quickly at a more competitive cost. (to be competitive against other networks)
Proof-of-Work (POW) creates "truth" by hashing with real energy (electricity) for subversion resistance from money printing. Using printed money to buy hashing power supports the speed of "truth" and the strength of truth.
Proof-of-stake (POS) can be bought with printed money without necessitating supporting the strength and speed of the creation of "truth".
Here the original papers on the value of Proof of Work, cited as references in the Bitcoin white paper:
*http://www.hashcash.org/papers/hashcash.pdf
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