Hi guys, could a random mining system work? I mean if the miner of the next block is choosen randomly intead of PoW what are the possibile drawback?
miner of the next block is choosen randomly intead of PoW what are the possibile drawback?
There is no way to allocate 'tickets' into the system without someone trying to create millions so that they can win. There is no easy way to identify 1 person 1 ticket to make the system fair. People will just create software to make it look like millions of people are entering for their chance at the random win but actually it will all be the same person.
This is why mining works, because you can't fake work.