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Then so should GPU powered generative AI. Just kidding. Just because you do not derive utility from something does not mean it a waste and should be banned.
by krunck 3y ago
Then so should GPU powered generative AI. Just kidding.
Just because you do not derive utility from something does not mean it a waste and should be banned.
- kevingadd 3y agoWho derives utility from the PoW component of PoW crypto? Is the work doing something useful to you? Is the utility "I feel good about using electricity to do nothing"?
- Zaskoda 3y agoyes it's doing something useful - securing the network and ensuring consensus
- kevingadd 3y agoIt's already been proven that you can secure a network without wasting massive amounts of electricity
- Zaskoda 3y agohas it though? I'm not sure which of the many consensus protocols you may have in mind, but proof of stake is the most popular alternative. A 51% attack for PoW requires that someone can afford to power 51% of the network. That's expensive. Once the attack is detected, the community can fork away from the moment of the attack. A 51% attack for PoS requires that someone owns 51% of the tokens. At that point, the attack costs nothing. If the attack is detected and the community forks, the attacker still has enough tokens to attack again on the new network - at no cost. All of this stuff is brand new. Saying that any of it is "proven" is pretty bold.