Author: Eric Voskuil 2017-04-08 18:51:32
Published on: 2017-04-08T18:51:32+00:00
A recent discussion on bitcoin-dev has focused on the impact of ASICBOOST on Bitcoin's Proof-of-Work system. One participant suggests that ASICBOOST causes Bitcoin's PoW to become more memory/latency throttled instead of raw computation throttled, which requires a greater Capital Rent than raw computation throttle. The equation Power Cost + Captial Rent + Labor ~= block reward + fees is discussed, with Capital Rent being a barrier to entry that should be minimized for a more distributed system. Another participant argues that electric power is not an abstraction, but rather the output of machines, and that Power Cost typically consists of a higher rent component than computing hardware.
Updated on: 2023-06-12T00:03:14.137952+00:00