Source⧉Crypto
🏗pow
13 messages
⧉infominer 29-Sep-18 07:40 PM
Proof-of-Work (PoW) was originally invented as a measure against email spams. Only later it was adapted to be used in digital cash [1].
What does it takes to add a new transaction / record / block to the blockchain ?
1/ Proof of work is still pretty poorly understood. I'll break it down in my own terms.
Between @danheld and @LaurentMT, PoW is in safe hands. Laurent's latest is bang on the money. PoW enforces churn in the validator set, PoS enables incumbents to maintain a costless advantage. https://t.co/ipSScdMX9w
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1/ Most people think #Bitcoin’s PoW is "wasteful." I explore how everything is energy, money is energy, subjective use of energy, and PoW's costs relative to existing governance systems For a deeper dive, my Medium post: https://t.co/a3wJW5Y1Ni TL;DR - check out this t...
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This is an explanation of the key function on Proof-of-Work in the Bitcoin blockchain. It focuses on the one feature of Proof-of-Work that is …
1/ Most people have misconceptions about PoW being "wasteful." Because this narrative is so popular, I've spent some time collecting my thoughts on its utility, efficiency, and morality. A thread: https://t.co/H8FsrqZFZ7
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PoW, PoS, & Hybrid protocols: A Matter of Complexity? -https://arxiv.org/pdf/1805.08674.pdf
⧉infominer 29-Sep-18 08:11 PM
1/ Emin again with the BS that PoW’s role is merely a “Sybil-controlled mechanism”. (And therefore PoS is a reasonable drop-in replacement.) It’s the classic mistake domain experts make when analyzing systems purely from their Point-of-View. https://t.co/6GLnPiGw...
⧉infominer 29-Sep-18 11:46 PM
⧉infominer 21-Jan-19 06:46 PM
Beyond the doomsday economics of “proof-ofwork” in cryptocurrencies https://www.bis.org/publ/work765.pdf
⧉infominer 03-Apr-19 11:27 PM
An interactive tool for understanding how Bitcoin and proof-of-work blockchains work - monospaced-out/bit-by-bitcoin