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I agree that PoW is wasteful by design. But it should be tuneable - it should somehow target securing, say, $X/hour, and not more, because it's even more wastef
by danuker 4y ago
I agree that PoW is wasteful by design. But it should be tuneable - it should somehow target securing, say, $X/hour, and not more, because it's even more wasteful.
This could be implemented through an oracle that gives the current price to the protocol.
https://en.wikipedia.org/wiki/Blockchain_oracle https://en.wikipedia.org/wiki/Blockchain_oracle
- once_inc 4y agoAdding an oracle is adding an attack vector on the base layer for the future monetary network. Oracles are by definition trusted sources of information and wonky, untrustworthy, unreliable ones at that.
- danuker 4y agoUgh. Then it would take revising the protocol, or a hard fork, to reduce the miner reward.