Re:mCaptcha – Proof of work based, privacy respecting CAPTCH...
by jsnell on Thursday August 04, 2022 @08:14AM
(#32341839)
Yes, the range of applications where proof of work is viable is really narrow. (In fact, so narrow that I suspect it can't work for anything where the abuse has a monetary motive.)
One way to think about this is by comparing the cost of passing the POW to the money the same compute resources would make when mining a cryptocurrency. I believe that a low-end phone used for mining a CPU-based cryptocurrency would be making O(1 cent) per day. Let's say that you're willing to cause 1 minute of friction for legit users on low-end devices (already something that I'd expect will be unacceptable from a product perspective). Congratulations: you just cost the attacker 1/1500th of a cent. That's orders of magnitudes too low to have any impact on the economics of spam, credential stuffing, scraping, or other typical bulk abuse.
One way to think about this is by comparing the cost of passing the POW to the money the same compute resources would make when mining a cryptocurrency. I believe that a low-end phone used for mining a CPU-based cryptocurrency would be making O(1 cent) per day. Let's say that you're willing to cause 1 minute of friction for legit users on low-end devices (already something that I'd expect will be unacceptable from a product perspective). Congratulations: you just cost the attacker 1/1500th of a cent. That's orders of magnitudes too low to have any impact on the economics of spam, credential stuffing, scraping, or other typical bulk abuse.