Re: A Two-Round Proof of Work instead of PoW

Where is the energy saving here, when the miner will have lower electricity bills, but there will be more miners?
And the statements that Bitcoin "waste" energy (and consequently imply that something needs to be done about it) haven't been debunked many times?

The energy saving comes from the fact that most of miners will spend their time on Round 1 that is not heavy-energy / CPU consuming.
At least this is the target, the bet and the hope.

In your system, consuming more electricity in round 1 gives a miner a better chance of going to round 2. How will your system limit the amount of electricity consumed in round 1?

The complexity in Round 1 is supposed to be small. Which means that most of honest miners will quickly find out if they need to move to Round 2 or not. Round 2 being limited to the fasted few N2. This will make most of miners idle / preparing for the next block which is not Energy-consuming. In Bitcoin today, most miners spend their time calculating the Hash puzzle most of the Block time (7 to 10min).