Author: Billy Tetrud 2021-06-07 06:15:23
Published on: 2021-06-07T06:15:23+00:00
The conversation in this email thread discusses the concept of hybrid protocols, specifically PolW, which combines proof of work (PoW) and proof of burn. The group explores whether proof of burn is essentially a form of proof of stake and ultimately concludes that hybrid protocols have a weaker link that can be more vulnerable to attacks. The miners in PolW are burning their coinbase rewards as a form of proof of stake, but they would only do so if it led to greater rewards in the future. Therefore, the burned coins still have value and miners are expected to do the full amount of work regardless of whether they burn the rewards or not. The group questions whether there is anything missing from this conclusion. SatoshiSingh adds to the discussion by introducing the concept of Proof of Less Work (PoLW), which may provide more ideas for further discussion. They share a link to a paper on PoLW for reference.
Updated on: 2023-06-14T20:46:32.682356+00:00