Bitcoin mining is so costly precisely because it has a built-in barrier to discourage fraud. This mechanism is what allows the system to be decentralized and run smoothly by countless unnamed miners.
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In Defense of a “Proof-of-Work” Model for…
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Bitcoin mining is so costly precisely because it has a built-in barrier to discourage fraud. This mechanism is what allows the system to be decentralized and run smoothly by countless unnamed miners.