POW : new currency generation is distributed to hashpower
1.people buy tons of unnecessary GPUs, build gigantic clusters of 10, 20 or even 100 Mhash . lots of resources is lost.
2. a lot of energy is wasted on POW.
effect = network is run by proffessional hashers. you WILL NOT get even 1usd worth of BTC by mining on normal computer for a year.
eMunie : new currency generation is distributed to transaction-verifying-power/luck
1. people buy/rent a lot of servers with VM and launch as many instances of hatchers as they can.
a lot of resources is lost, just more cpus mobos rams and drives and less gpus
2. a lot of energy is lost to run millions of unnecessary nodes
effect = network is run by proffessional hatchers. you WILL NOT get even 1usd worth of EMU by hatching on your computer for a year.
where is the difference? that are the advantages?
One big difference as I see it would be:
Instead of investing a lot of Money in Hardware that basically does nothing but to produce hot air. people would invest the money in Hardware that actually benefits the network. Space to store the Blockchain and Bandwidth. Just imagine all this Millions that where invested in Bitcoin Mining would have been invested in this resources.
We wouldn't even need to talk about the max. Blocksize issue yet.
Interesting if this really works.