3 ms·
I developed something that can help reduce some of these problems. The energy used to mine a resource trends towards the value of the resource. The resource in
by RichardHeart 7y ago
I developed something that can help reduce some of these problems. The energy used to mine a resource trends towards the value of the resource. The resource in cryptocurrencies is the block reward + fees.
One can reduces pollution by paying miners only transaction fees and not inflation. One further increase savings by utilizing an existing network, and employing time locks. More hashrate is not what matters most. Hashrate from honest, non cooperative parties is what makes the system censorship and collusion resistant. It's interesting to note that the people you "defend" yourself against in sha256 hashing are only the very same people you're paying, as only they have equipment relevant to attacking. On GPU and CPU mined algos, hash rate matters more as a larger set of humans can become attackers.