Post
Topic
Board Development & Technical Discussion
Re: A useful PoW without replacing Nakamoto Consensus
by
n0nce
on 28/10/2022, 21:02:13 UTC
EcoPoW is adding another usage to the existing PoW.
It did not change PoW for consensus at all.
And the PoRep/encoding with EcoPoW does not cost extra computing.
It is useful to blockchain users as proof that the data is kept by a resource (storage) provider honestly.
The storage providers (miners) can charge the users with the proof. It is the new revenue source for the miners.
You are trying to 'get more out' while 'putting the same in', though. Thermodynamics do not change.

I'd also argue that adding any such large change to Bitcoin has the potential to create so much more harm than good, e.g. through bugs and security problems, that it is completely unviable to do. And I also heavily doubt that the people who believe coins should be created out of thin air (unlike literally any other good or product), will be happy / silenced with such a compromise solution, anyway.