Re:The Ramanujan Machine
by Taek on Saturday July 10, 2021 @04:28PM
(#27796203)
The security properties of Proof of Work cryptocurrency are derived from the wastefulness. We want to be confident that everyone has the same cost when producing a block.
If the problems being solved are useful, they are potentially more useful to some parties than others, meaning some parties may have a lower cost to attack the blockchain, because it was computation they needed to spend money on anyway, might as well attack a blockchain while you are at it.
Re:The Ramanujan Machine
by MathYouF on Saturday July 10, 2021 @06:54PM
(#27797055)
Doesn't this ignore the real world realities of economies of scale though with the physical materials being used? I'd enjoy a bit deeper explanation for this if you don't mind. :)
If the problems being solved are useful, they are potentially more useful to some parties than others, meaning some parties may have a lower cost to attack the blockchain, because it was computation they needed to spend money on anyway, might as well attack a blockchain while you are at it.
I can try to explain further if that's confusing.