Post
Topic
Board Bitcoin Discussion
Merits 2 from 1 user
Re: Issues with Proof-of-Work
by
stompix
on 27/01/2023, 20:28:11 UTC
⭐ Merited by Welsh (2)
Citizens(nodes) do their jobs everyday to contribute to the economy which is the ongoing macro system(make and distribute transactions). Presidents(nodes) are randomly selected to group transactions for the next block through attempts at solving the POW function for that block.  Just like a president a citizen(node) is selected for a brief time period to make potential decisions for the networks next economic state. The difference being instead of 4 years of decisions it is building 1 block/proposal worth of decisions.

Why do you keep sticking with this analogy when it's clear its flawed to the core?
You would need to have
- citizens, people that make transactions
- city halls, where the transactions are being sent and the archive is copied
- construction workers, the miners that build the next block in which all the receipts from the transactions are kept, and they can build each block empty because they feel like doing so, or one where there are no pets allowed
- then the city halls decide on their own which block to accept to expand their archive, without any citizen vote

The population can always rebel(accept another chain), however, the problem more so lies in the fact that the “president “ only has access to a single market perspective for forming proposals.

The population can't do anything about it, not in PoS not in PoW, again stop with this analogy as it creates more confusion than it solves.
You have nodes, you have miners, and you have simple users which send transactions, stick with them and remember a miner is a node, a node doesn't have to be a miner!