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.
-
-
Obviously if you only care about a few hundred massively capitalized operations who can afford arbitrarily large bandwidth and storage, then sure, maybe this makes sense - but then you don't need cryptocurrency anymore, either. Because you've regressed back to today's banking.
-
With the PoW rate limiter, BitCoin really does still live up to the promise of anyone can validate, right. I mean right now you could presumably set up a node and validate the entire history of BitCoin, as a basic user.
- Show replies
New conversation -
-
-
The point of BitCoin is not for anyone to be able to transact and validate the ledger. Larger server farms were always the end goal. The point is to transact without a trusted third party / institution in the middle, reducing fees to practically zero.
-
I guess I'm not seeing the difference between "a few large server farms" and "trusted third party in the middle", if edge nodes cannot independently verify the ledger.
- Show replies
New conversation -
Loading seems to be taking a while.
Twitter may be over capacity or experiencing a momentary hiccup. Try again or visit Twitter Status for more information.