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Re:IOTA Surges Past Ripple by EGreg on Wednesday December 06, 2017 @10:54AM (#15862018)
If all you needed was a way to order transactions you would not need proof of work at all. Here for example is the PTN:

https://intercoin.org/technical.pdf

Re:IOTA Surges Past Ripple by CyberDildonics on Wednesday December 06, 2017 @11:02AM (#15862096)
First, a paper written three weeks ago of an unproven currency is a bit of stretch.

Second, I didn't say it was necessary to order transactions, I said that is what it is used for, which is correct. You are replying to a point that I didn't make.

Re:IOTA Surges Past Ripple by EGreg on Wednesday December 06, 2017 @12:59PM (#15863246)
You said proof of work is ABOUT ordering transactions. I was trying to say that it's not. It's used for other things: namely as a way to determine the next miner, like leader election in consensus protocols. It also adds a lot of computation on top of the transactions to show that the miner is heavily invested in the ecosystem and thus serves as an economic incentive. It has almost NOTHING to do with ordering transactions. Transactions are ordered by the blockchain, and everyone has to verify them anyway.
Re:IOTA Surges Past Ripple by CyberDildonics on Wednesday December 06, 2017 @09:09PM (#15867038)
You do realize that the miners' purpose is to order transactions right?
Re:IOTA Surges Past Ripple by EGreg on Thursday December 07, 2017 @01:50AM (#15868216)
Pretty sure it's not. Go ahead and prove it with a link.
Re:IOTA Surges Past Ripple by CyberDildonics on Thursday December 07, 2017 @07:43AM (#15869526)