Author: David Vorick 2017-04-06 12:13:23
Published on: 2017-04-06T12:13:23+00:00
The complexity of the PoW algorithm can lead to someone finding a unique and special method for optimizing it that they can patent. Simplifying the algorithm makes it more obvious that there are no hidden or unexpected optimizations that someone could patent. Additionally, cryptographic hash functions need to be collision-resistant, and collision resistance is the property that usually breaks. Preimage resistance and partial preimage resistance (and second preimage resistance) are generally easier to protect than collision resistance. It's ironic that so much research has been put into making asic-resistant PoW algorithms when in the long run, asic-resistance only leads to problems like single parties who have found significant optimizations and not shared them, completely destroying any chance of a level playing field and giving themselves a centralized monopoly - a result that is supremely unhealthy for the rest of the community.
Updated on: 2023-06-11T23:42:37.647775+00:00