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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So PoW is just a rate limiter. It caps BitCoin at, you know, 7 transactions a second or whatever. And that's on purpose, to prevent both DDoS, and to prevent the storage from overwhelming the non-industrial nodes on the network. For example:pic.twitter.com/CsHKV2r0ZP
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PoW is not the transaction rate limiter. The transaction rate limiter is the block size cap. It's not to prevent DoS either. The important function of PoW is establishing a canonical ordering of transactions in a way that everyone can agree on, without requiring trust.
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