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A comment on Beyond Bitcoin – Part II: Blockchain-based systems without mining [pdf]. Parent comment

Re:Beyond Bitcoin – Part II: Blockchain-based systems withou... by duozerk on Wednesday August 10, 2016 @04:48AM (#12260345)
The current PoW algorithm in ethereum is ethash and does not perform useful work during coin generation, unless I'm mistaken. You spend ether to fuel useful work.

Also, Ethereum (forked) aim to switch to PoS soon (ETC may not).

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Re:Beyond Bitcoin – Part II: Blockchain-based systems withou... by UweSchmidt on Wednesday August 10, 2016 @05:41AM (#12260495)
Of course you are right, coin generation is a waste. The part where ether is changing hands for useful work is at least somewhat "useful".

Best we can hope for is a future blockchain that emphasizes this kind of work more. A seti@home-coin or cure-cancer-coin is, as you suggested, hard to implement.

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