3 ms·
No; most kinds of waste are not instantly verifiable, but proof of work is.
by tromp 9y ago
No; most kinds of waste are not instantly verifiable, but proof of work is.
- mcv 9y agoWhat's verifiable is that you wasted a lot of work. Is anything useful actually being done with all those calculations that are being performed? It seems the only purpose is to prove that you performed this amount of useless work, because the system is built on rewarding new bitcoins to those who waste the most work this way. It's intentionally wasteful just because the system needs something that isn't easily gamed without massive investment of equipment and energy. Other cryptocurrencies manage to exist without being designed around wasting energy.