Re:UST Stablecoin Loses Dollar Peg
by eru on Wednesday May 11, 2022 @12:08AM
(#31335741)
> half agree with that. PoW is the most efficient method of converting raw energy into a digitally secure token. It would be much better if the work done was actually useful beyond that.
I'd say PoW is not the most efficient method. It's a terrible waste by design.
The kind of 'work' that works in PoW has some rather strict requirements, that's why it's almost impossible to shoehorn useful work into a PoW scheme.
Wikipedia tells me that eg GridCoin uses proof-of-stake to prevent double-spending attacks; its rewarding people for BOINC work is a totally separate gimmick.
I'd say PoW is not the most efficient method. It's a terrible waste by design.
The kind of 'work' that works in PoW has some rather strict requirements, that's why it's almost impossible to shoehorn useful work into a PoW scheme.
Wikipedia tells me that eg GridCoin uses proof-of-stake to prevent double-spending attacks; its rewarding people for BOINC work is a totally separate gimmick.