3 ms·
isn't that somewhat against the whole idea of PoW? It is supposed to make cheating expensive, because you have to waste a lot of computing power to do it. If th
by 988747 5y ago
isn't that somewhat against the whole idea of PoW? It is supposed to make cheating expensive, because you have to waste a lot of computing power to do it. If that power is not wasted, but instead used for something useful (outside of crypto transaction verification) work that can be sold for money, then cheating becomes profitable again.
- lottin 5y agoNot really... cheating is always profitable, regardless of how expensive winning a block is, since the cheater can double spend any amount they want.
- api 5y agoPick something useful that has low monetary value on the open market, like number theory problems or protein folding or something. I could imagine the RandomX code execution approach being re-worked to incorporate useful scientific computation, and this being worked into the currency itself. It might be possible for people to stake money on compute units and then have the money go to the miner who solves a block in proportion to compute units performed. You'd have to put a lot of work into making this non-gameable though. Maybe something can be done here with homomorphic encryption too, so the miners would not even know what they are computing. A lot of interesting open cryptography and math work here.
- Uberphallus 5y agoAlready available in GridCoin