So the BTC network hash rate is down again in response to price…
People say this is healthy but don’t realize what kind of effect it has on the centralization of the POW network.
Extreme price reductions like we are seeing with BTC, result in the consolidation of networks AND reduction of hashing power.
If you didn’t like your POW before, you’d hate it now as only a handful strong players with cheap energy costs and fast equipment can now mine.
In POS your security guarantees don’t depend on market price of your token. It is a very strong selling point for anyone serious about transferring their operations/value creation mechanism to the open, decentralized networks.
If designed with proper incentives and decentralization parameters, POS will be head and shoulders above POW.
If Cardano rolls out Shelley in Q1 2019, it will be a significant development for the whole space as it will be the first decentralized POS network with provable security guarantees that don’t depend on external factors.