Bank of Canada report: If the BTC consensus agreement is changed from POW to POS, it can be greatly improved

According to The Daily Hodl, the Bank of Canada has released a new study on bitcoin and cryptocurrency. The work report entitled "Economics of Cryptographic Currency – Bitcoin and Others" details how the blockchain network achieves resilience and resistance to attacks. The larger the network, the higher the attack cost, and the less vulnerable the cryptocurrency is. The report mentions: “Expensive mining costs help to curb twice the cost of each transaction, which is independent of the number of transactions. At the same time, the intensity of mining increases as the total compensation increases. The increase in transactions has made it easier to fund mining incentives to protect systems.” The authors analyzed in detail the risk factors of small cryptocurrencies such as MONA, BTG, ZEN and LCC, which suffered 51% of attacks. The report mentions: "Our analysis also confirms that smaller cryptocurrencies (in terms of market capitalization and transaction volume) may be at risk of double-spending attacks because they do not generate enough mining returns to suppress such attacks." It is concluded that if Bitcoin converts its consensus agreement from "POW to POS," then Bitcoin can be greatly improved. According to the report, this shift will affect the inefficiency of Bitcoin and make it more competitive with the traditional monetary system.