Re:Nvidia announces mining GPUs, cuts the hash rate of RTX-3...
by qqii on Thursday February 18, 2021 @10:25PM
(#26189254)
GPU mining is mostly ethereum. Ethereum mining isn't just arbitrary hash functions, its network settled $1T last year[0].
[0]: https://www.newsbtc.com/news/ethereum/ethereum-on-pace-to-se...
Re:Nvidia announces mining GPUs, cuts the hash rate of RTX-3...
by Qworg on Thursday February 18, 2021 @07:22PM
(#26187794)
Actual work can be monetized. The waste demonstrates commitment to the truth. Any non-waste reduces the security of the commitment, as you're getting paid no matter what.
Re:Nvidia announces mining GPUs, cuts the hash rate of RTX-3...
by Forbo on Friday February 19, 2021 @11:23AM
(#26194732)
It exists, it's called GridCoin. It's a proof of stake chain that disburses coins based on work units completed on the Berkeley Open Infrastructure for Network Computing (BOINC).
There's a few others that take different approaches like Golem Network Token, Nym, Oxen, etc.
I've actually been wondering about this -- are there any major ones that meaningfully provide other kinds of value for all of the computational resources they're using?
My understanding of blockchain as a concept is pretty surface-level, so maybe I'm just missing something obvious here. But at least at first glance, it kind of baffles me that so many of them are using seemingly arbitrary hash algorithms to calculate proof of work, when they could instead be tied to distributed projects -- folding@home, for instance -- and measuring actual work.