Useful thought exercise in crypto design: Rewind back to 2005, but take all your knowledge of primitives with you. Given your problem, would you design a blockchain? Probably not.
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Dunno who read this back in the day, but "unless the opponent has a very low budget and is thus limited to standard personal computers, it does not make sense to analyze the security or cost of these schemes without reference to machine architecture." http://nakamotoinstitute.org/intrapolynomial-cryptography/#selection-65.282-65.491 …
That said, although we certainly did think about scalability, you are right that we seldom imagined anything like the growth rates we have witnessed.
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