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One thing that PoW has for it is the idea brought up in the paper: where the coin is not just based on popularity of usage, fame or hype but its usage is actual
by sktrdie 5y ago
One thing that PoW has for it is the idea brought up in the paper: where the coin is not just based on popularity of usage, fame or hype but its usage is actually measurable in a very real sense: through how much energy it consumes. The paper mentions how CPU power gives you (in a way) the ability to vote within the system.
With a famous PoS coin you can measure its popularity based on number of transactions and usage across the globe - but who can really tell that those transactions were just not very few users pretending to makeup a busy network?
With PoW on the other hand you have a very tangible way to measure interest in the network: they’re literally consuming energy and they’re literally many different entities since no single entity could ever consume that much energy.
That’s a quite important difference imho.