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I thought of this idea a couple of weeks ago. Make the mining aspect useful work (e.g. solve folding proteins). I am glad someone is doing this. An excellent id
by SubiculumCode 9y ago
I thought of this idea a couple of weeks ago. Make the mining aspect useful work (e.g. solve folding proteins). I am glad someone is doing this. An excellent idea.
- rebuilder 9y agoBut how do you do it without centralizing coin issuance?
- SubiculumCode 9y agoI overstated. I just had the thought that it would be nice if coin issuance would depend on some type of useful work (e.g. protein folding), and was glad to see that others who know a whole lot more about how cryptocurrency works, have created schemes to do just that. I have no idea on how to do it without centralizing coin issuance.
- rebuilder 9y agoUnfortunately, no-one seems to know how to do it. It is a pretty hard problem: issuance tied to proof of work works because the solutions it generates are unique but machine verifiable. Unfortunately, problems with solutions that fulfill that requirement tend not to be very useful in and of themselves. Edit: this is well beyond my expertise, perhaps someone with a better understanding of information theory can prove the above statement wrong. In that case, I hope they go out and build a crypto of their own!