To explain more, for e.g., we hear that the USD was backed by the convertibility of this currency to precious metals until 1971. Now, what are altcoins backed by such as Ethereum or Litecoin? Are mathematical calculations performed by ASIC miners any useful in the real world?
It's not useful at all, and do you think it's worth while i can buy ethereum and litecoin directly without any problem or middle man? That idea doesn't make sense at all. I doubt why there was a dumb idea like that to be exist right now