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This is a key observation. Now apply it to the "eco-friendly" and PoS schemes. The same economics apply. For Bram's coin and PoS systems, the costs spent will
by nas 9y ago
This is a key observation. Now apply it to the "eco-friendly" and PoS schemes. The same economics apply. For Bram's coin and PoS systems, the costs spent will rise to equal the block reward. So, you are basically doing something more complicated to end up with the same amount of economic waste. In the proof of space version, maybe you will be building millions of hard drives, running them to failure and then throwing them away.
- mopierotti 9y agoThis answer written by the Ethereum team addresses why cost spent won't necessarily rise to equal block reward in their PoS formulation. https://github.com/ethereum/wiki/wiki/Proof-of-Stake-FAQ#doesnt-mc--mr-mean-that-all-consensus-algorithms-with-a-given-security-level-are-equally-efficient-or-in-other-words-equally-wasteful https://github.com/ethereum/wiki/wiki/Proof-of-Stake-FAQ#doe...