7/ Let’s say that again: reverting takes an equivalent amount of hash operations, not an equivalent amount of energy. That is because the hash is only a *representation of the energy used*, not the energy itself.
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18/ By attaching energy to a block, we give it “form”, allowing it to have real weight & consequences in the physical world. We can also think of PoW as the link that brings a bunch of 0s & 1s into life.
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19/ In other words, PoW is the bridge between the digital & the physical.
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20/ Compare that to some cryptokitties that someone creates, modifies & removes as they see fit. Their uniqueness & existence are neither guaranteed nor reliable.
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21/ Even if the current variant of PoW fails, I’m confident that there will be other ways of attaching energy to a block.
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22/ In conclusion, PoW’s application in blockchains might prove to be far more significant & wide reaching than what it was originally invented for.
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23/ PoW gives us immutability, which gives us uncensorable money, which could potentially change how society organizes itself ( read
@NickSzabo4 ‘s wonderful essay on social scalability for more on that: http://unenumerated.blogspot.com/2017/02/money-blockchains-and-social-scalability.html … ).Show this thread
End of conversation
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This is usually the complaint with proof-of-stake systems
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