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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If you had infinite computing power at all nodes, you would simply remove PoW, and they would all just validate all incoming blocks and merge them, rejecting double-spends. It would "just work".
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But as it stands you could not do this because you would immediately get bad attackers spamming the network work with bogus blocks, and all the machines would then be swamped with block validation.
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