[bitcoin-dev] Proposal: Force to do nothing for first 9 minutes to save 90% of mining energy
Karl
gmkarl at gmail.com
Sun May 16 23:29:47 UTC 2021
On 5/16/21, Eric Voskuil via bitcoin-dev
<bitcoin-dev at lists.linuxfoundation.org> wrote:
> https://github.com/libbitcoin/libbitcoin-system/wiki/Efficiency-Paradox
> https://github.com/libbitcoin/libbitcoin-system/wiki/Proof-of-Memory-Fallacy
The chain security actually reduces by 10% in this proposal. So the
efficiency paradox is not violated, it is just the real cost of
confirming a transaction is reduced, because there is actually less
security. This eventually reduces the price of bitcoin and reduces the
amount of electricity the block reward can eventually buy.
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