Author: Peter Todd 2017-04-06 03:23:37
Published on: 2017-04-06T03:23:37+00:00
In an email exchange, Erik Aronesty mentions the idea of using a masked proof of burn to destroy value. This is essentially a proof-of-stake system where the consensus mechanism ultimately includes the burn. However, this type of proof would not actually be a proof since it depends on the consensus mechanism and is not entirely secure. In contrast, proof-of-work is a more secure system as it requires energy to be destroyed to find a PoW solution regardless of what consensus is ultimately reached. The difference between these two systems can be compared to securing a computer with an anti-virus scanner versus securing a computer by disconnecting it from the internet entirely.
Updated on: 2023-06-11T23:44:20.484576+00:00