PoS vs PoW tweetstorm that digs into the fundamentals. Great overview of the argument:https://twitter.com/hugohanoi/status/951762596255838209 …
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Replying to @TuurDemeester
Thanks Tuur. To add since so many people seem to be missing the point... “What about tech innovations? Cars vs horses? LED vs. lightbulb? Aren’t those examples of using less energy to achieve the same goal?” No because in those cases there are exploitable inefficiencies.
4 replies 4 retweets 24 likes -
Replying to @hugohanoi @TuurDemeester
Every hash in PoW goes to secure the ledger. 1 hash mined == 1 hash harder to revert. You can improve the hardware that performs the hashing op itself, but there’s no getting around the fact that to rewrite history you have to spend an equiv amount of hash ops. 100% efficiency.
4 replies 2 retweets 17 likes -
Replying to @hugohanoi @TuurDemeester
Not 100%, since there's non-zero probability to get lucky.
1 reply 0 retweets 0 likes
Yeah I meant that figuratively, not literally
it’s close to 100% over a large distribution.
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