Author: ZmnSCPxj 2021-05-18 07:06:23
Published on: 2021-05-18T07:06:23+00:00
The email thread discusses Verifiable Delay Functions (VDFs) and their active participation of a single verifier. The verifier in this case is the Bitcoin network as a whole, but the VDF gets calculated by every eligible proof-of-burn miner. The purpose of VDFs is to sidestep the fact that Proof-of-Work (PoW) allows miners to consume more energy to get more blocks than their competitors. However, there are still ways to increase sequential speed such as overclocking and lower temperatures. It is believed that VDFs will not serve as a sufficient deterrent from ever-increasing energy consumption.
Updated on: 2023-06-14T21:25:18.401228+00:00