20 points
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the idea was great
I have questioned this ever since I learned that the more adoption there is, the less efficient mining becomes, ergo more power is wasted accomplishing the exact same task for no extra benefit. Difficulty creates a back asswards system that makes adoption a con.
7 points
Mining is only one strategy for concenous, but yes it is a pretty rudementary and inefficient version.
5 points
And even in mining there are different protocols, Bitcoin is just intentionally inefficient 🤷
1 point
2 points
Well it’s been over a decade and Bitcoin is still PoW, as well as nearly 50% of the entire crypto market.
3 points
0 points
1 point
Ethereum doesn’t use mining at all anymore. It can get expensive to use though, which layer 2 chains help with
2 points
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