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That's not proof of work; it's proof of authority. You can jigger it any which way with randomization and challenge-response: it's still proof of authority. Not
by scottlocklin 6y ago
That's not proof of work; it's proof of authority. You can jigger it any which way with randomization and challenge-response: it's still proof of authority. Not that there is anything wrong with PoA; most mined networks end up effectively PoA anyway (because dominated by 1-2 mining consortiums).
And it doesn't matter if you use a passport NFC chip or some other kind of secure element (say, a ledger nano) with strong KYC; same thing.