> Why bother with a proof of work scheme when you can just rate-limit directly? Tad amusing after all this time people still don't understand why proof-of-work

> Why bother with a proof of work scheme when you can just rate-limit directly? Tad amusing after all this time people still don't understand why proof-of-work schemes exist. Rate limiting has zero cost to an adversary. PoW has physical costs. It's in the name :)