Why Satoshi’s original proof‐of‐work model works

Оригинал: https://coingeek.com/satoshis-original-proof-work-model-works/

An insightful post by Dan Held on Medium does an excellent job of detailing the original proof‐of‐work (POW) concept that is an integral part of the cryptocurrency model. Many crypto opponents have deemed the POW concept as being wasteful, but Held is able to show the fallacy in their argument.

One of the major complaints about cryptocurrency is the energy that is consumed through the underlying mining practices. However, Held points out that everything we do – and have ever done – is based on energy. He refers to a chart from the BP Statistical Review of World Energy 2014, which shows that energy consumption has increased in direct proportion to the global gross domestic product (GDP):

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