Ah yes, another person new on the Internet. Welcome. The blogger doesn't seem to be aware that this is an old idea, dating back to 1992 or earlier (well before

Ah yes, another person new on the Internet. Welcome. The blogger doesn't seem to be aware that this is an old idea, dating back to 1992 or earlier (well before the also old 1997 date given in WikiPedia for HashCash). See the references in this paper: http://www.cl.cam.ac.uk/~rnc1/proofwork.pdf http://www.cl.cam.ac.uk/~rnc1/proofwork.pdf