Author: Claus Ehrenberg 2021-05-18 12:46:39
Published on: 2021-05-18T12:46:39+00:00
The discussion revolves around the fundamental concept that all currency security derives from energy consumption and ultimately everything resolves down to proof-of-work. The different alternatives to proof-of-work, i.e., proof-of-space, proof-of-stake, and optical proof-of-work are discussed with their pros and cons. It is suggested that instead of adding complexity to proof-of-work, a more direct approach should be taken. However, it is important to conduct a detailed analysis comparing one alternative with the other in depth to determine the best mix of proof-of-work and proof-of-stake systems. Decentralization is crucial, and any new proof-of-foo must consider all effects until reaching the base physics of the arrow of time. At least proof-of-work is honest about its consumption of resources, but it is necessary to strive for better solutions. Energy expenditure is foundational to the system, and competition will employ ever more resources until it is unprofitable to do so.
Updated on: 2023-06-14T21:59:15.262672+00:00