Re: DECENTRALIZED crypto currency (including Bitcoin) is a delusion (any solutions?)
In any event its disastrous due to the agreement being based on resource expenditure and not the data set.
Resource expenditure is the only sybil resistant ordering yet invented. If you've found another one, let's hear it
I agree with that statement of resource expenditure, but POW is not the only way to skin the Sybil cat.
POW based resource expenditure is too decoupled from the entity it is regulating because there is zero correlation between the result of the POW and the data it is guarding.