Author: Eric Voskuil 2021-05-16 22:06:14
Published on: 2021-05-16T22:06:14+00:00
The Efficiency Paradox and Proof of Memory Fallacy are two articles on the Github page for the Libbitcoin System. The Efficiency Paradox article discusses how increasing efficiency in technology can actually lead to higher energy usage. The article explains that while improving efficiency can reduce the energy used per task, it also makes those tasks cheaper to perform, which leads to an increase in overall usage and energy consumption. The article suggests that true sustainability requires a focus on reducing overall energy usage, not just improving efficiency.The Proof of Memory Fallacy article discusses the idea that proof of work consensus algorithms, such as those used by Bitcoin, may not actually be as secure as commonly believed. The article argues that the reliance on memory-intensive calculations for proof of work is flawed because memory access times can be manipulated by attackers. The article suggests that other consensus algorithms, such as proof of stake, may be more secure and energy-efficient alternatives to proof of work.Both articles highlight the potential downsides of current approaches to technology and cryptocurrency. The Efficiency Paradox article stresses the need for a holistic approach to sustainability, while the Proof of Memory Fallacy article questions the security of one of the most widely-used consensus algorithms in cryptocurrency.
Updated on: 2023-06-14T21:51:56.266508+00:00