Author: Lonero Foundation 2021-03-05 16:16:13
Published on: 2021-03-05T16:16:13+00:00
In an email exchange between Andrew and the Lonero Foundation, Andrew proposes a cryptography proposal to improve the efficiency of hashing for validation and to address potential vulnerabilities in the BTC network. He believes that an upgrade regarding the hashing algorithm and cryptography should at least warrant some discussion, especially given that bigger block height proposals have been suggested as hard forks. Andrew hopes to send his BIP and asks about the preferred format. In response to another email, Devrandom discusses the argument that Proof of Work (PoW) is the cheapest method for mining and notes that while the mining market tends to expend resources equivalent to miner reward, it does not necessarily prove that energy expenditure is the primary cost. Devrandom also mentions that negative externalities from energy expenditure may soon go away due to the move towards renewables.
Updated on: 2023-06-14T19:01:48.616105+00:00