Author: ZmnSCPxj 2021-05-18 08:04:56
Published on: 2021-05-18T08:04:56+00:00
In an email exchange between Luke Dashjr and ZmnSCPxj, the former claimed that proof-of-work could be replaced by a combination of dRNG, universal clock, and cryptographic magic. However, ZmnSCPxj argued that proof-of-work is the cryptographic magic that creates a universal clock. He explained that the Arrow of Time, which is the direction in which entropy increases, is what makes physical interactions irreversible. All clocks are ultimately derived from the measurable increase of entropy, and proof-of-work requires energy consumption, which is tied to the physical world. Therefore, proof-of-work is necessary to create a universal clock that anchors Bitcoin to reality.
Updated on: 2023-06-14T21:53:53.990291+00:00