Why do proof of work systems ramp up the difficulty of hash solving while keeping latency constant, instead of keeping difficulty constant while nodes compete to reduce latency? The later seems more useful, and not inflationary.
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Replying to @TimSweeneyEpic
The reason is because the only point of proof of work _is_ to keep latency high. You don't actually need it for anything else. The entire point of PoW is just to have there be a single value you can check before validating a transaction block. It's DDoS protection.
7 replies 2 retweets 48 likes -
Replying to @cmuratori @TimSweeneyEpic
This is (but one) of the reasons "blockchain" is not a particularly good idea. People want low-latency, high-volume transactions, but the designs of these systems preclude that possibility entirely. They are, by design, not able to do the thing you wanted them to do.
5 replies 0 retweets 34 likes -
Replying to @cmuratori @TimSweeneyEpic
This is why you then end up with ridiculous stuff like Lightning Network, which builds a "assume people notice bad transactions in a few days" system on top of bitcoin, because that's the only way they could figure out to get it to scale :(
1 reply 0 retweets 11 likes -
Replying to @cmuratori @TimSweeneyEpic
Applying new layers on top of a traffic jam.
1 reply 0 retweets 3 likes
"Everyone waits a random number of minutes and then tries to go through the intersection." - BitCoin solution to traffic lights
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