The CTO of Ripple, David Schwarz, has made a bold prediction about the future of PoW and PoS.
His argument is that PoW chains will eventually become obsolete because they have been superseded by other consensus mechanisms.
His prediction is that the future of cryptocurrency is in PoS-like consensu — a system where people vote on blocks as opposed to miners hashing them.
He said:The idea is that you have a list of validators who are important enough for their opinion to matter. And then you allow them to vote on blocks.
Schwarz's comments come at a time when Bitcoin Cash (BCH) has experienced network congestion issues that were resolved with an emergency hard fork earlier this month. He believes this could be the beginning of a change in how networks are run and how they secure themselves against attacks from malicious actors.