TokenPay Derek Capo About PoS vs PoW And TokenPay Blockchain
In this interview, TokenPay CEO Derek Capo talks about PoS vs PoW and TokenPay Blockchain . If you enjoy it, remember to check out our cryptocurrency wallets and decentralized exchange over at TokenPay.com.
So for example, with the proof of stake, you can get a Raspberry Pi which is about $35. Hook it up make a node and basically start staking! If you have a few thousand crypto coins you get 5% a year. You get that back extremely fast. An ASIC miner can cost thousands of dollars. You’ll be holding to the cost of graphics cards of NVIDIA. That’s a big problem. So yes proof-of-work has a cost structure. It’s also very bad for the environment.
I mean you’re spending a lot of energy on stuff that really adds in a day. You don’t really need. So I think that’s why Ethereum is moving over to proof of stake. There’s a reason why this is happening. It’s because it’s very energy efficient. So TPAY blockchain is actually really really young. We have about three hundred and sixty four thousand transactions. But actually transactions including empty blocks is about 64 thousand. Our block time is about 60 minutes and we’ll probably expand it between 60 seconds to 2 minutes. So that we don’t have any of these orphan blocks which is very normal in the blockchain world.
For all those that know we about 27,000 addresses that are actually active. In fact of 130,000 people participated in our token sale. It was 27,000 people that actually purchased. About 40 something percent of that was in Japan. About 20 something percent was in Korea and the rest was China, India, UK pretty much in that order. We did not do anything to the US. But actually refunded the Americans, that actually participated.