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The current PoW algorithm in ethereum is ethash and does not perform useful work during coin generation, unless I'm mistaken. You spend ether to fuel useful wor
by duozerk 10y ago
The current PoW algorithm in ethereum is ethash and does not perform useful work during coin generation, unless I'm mistaken. You spend ether to fuel useful work.
Also, Ethereum (forked) aim to switch to PoS soon (ETC may not).
- UweSchmidt 10y agoOf course you are right, coin generation is a waste. The part where ether is changing hands for useful work is at least somewhat "useful". Best we can hope for is a future blockchain that emphasizes this kind of work more. A seti@home-coin or cure-cancer-coin is, as you suggested, hard to implement.