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Mining is not just for distribution of tokens. I would argue the more important use is for maintaining the proof-of-work blockchain. There have been some experi
by gibybo 13y ago
Mining is not just for distribution of tokens. I would argue the more important use is for maintaining the proof-of-work blockchain. There have been some experimental attempts at maintaining a distributed ledger using a proof-of-stake/proof-of-work hybrid, but I don't know of any successful attempts to do it without a proof-of-work component.
If you have an idea of how it could be done, you may have a shot at dethroning Bitcoin.
- kylebrown 13y agoRipple achieves ledger consensus without proof-of-work. Absence of proof-of-work is how it gets a new ledger (analogous to the block) every few seconds. The XRP fee destruction deflationary scheme is effectively similar to a proof-of-stake inflationary scheme, because as the total supply of XRP decreases, it benefits all XRP holders in proportion to their holdings.