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Depends on the incentive scheme to stop malicious actors. Current form of "PoW" relies on computational hahsing to stop the attacks. PoS, an alternative "work"
by thisisit 9y ago
Depends on the incentive scheme to stop malicious actors. Current form of "PoW" relies on computational hahsing to stop the attacks.
PoS, an alternative "work" scheme, relies on staking and risk of losing coins to stop bad actors. The person who gets to mine the block is still hashing and creating the block.
Ethereum, as an example, started out with PoW but soon moves to PoS. So, it is trying to avoid a situation like Bitcoin were highpowered hashing (a word coined by Satoshi) and electricity is in focus.
- iainmerrick 9y agoI'm probably just nitpicking over words then. If it's not PoW don't call it PoW. Somebody mentioned the use of SHA as a specific problem, as if a different hash function could be better. My point is just that any work function at all would be just as bad. PoS sounds worth investigating.