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Title: "Work" That does more than just constantly re-verify the block? Post by: BerryBitCoin on July 05, 2013, 07:12:02 AM Are there any alternative crypto currencies were the work done mining, does more than just verify the blocks?
Can the "work" done also do something in addition to verifying blocks or while verifying blocks? I just think all this raw processing power could potentially be used to better ways. Title: Re: "Work" That does more than just constantly re-verify the block? Post by: Mr.Dreamanonym on July 05, 2013, 07:18:16 AM I do not think there is any other means of payment mining crypto has the BTC
Title: Re: "Work" That does more than just constantly re-verify the block? Post by: BerryBitCoin on July 05, 2013, 08:29:20 AM I've read some alt cryptocurrencies use less electricity so there better on the environment, but it would still be nice if a currency could do something like foldathome while mining for coins.
Title: Re: "Work" That does more than just constantly re-verify the block? Post by: favdesu on July 05, 2013, 08:30:41 AM Are there any alternative crypto currencies were the work done mining, does more than just verify the blocks? Can the "work" done also do something in addition to verifying blocks or while verifying blocks? I just think all this raw processing power could potentially be used to better ways. Namecoin - streams dot-bit TLD PPC is the electricity thing. look it up :) Title: Re: "Work" That does more than just constantly re-verify the block? Post by: DannyHamilton on July 05, 2013, 12:45:28 PM The "work" needed to secure transactions in a "proof-of-work" cryptocurrency has some very specific requirements. As such, hashing is one of the few processes that meets those requirements.
Providing security and reliability for a global currency and payment system is a rather useful purpose and the amount of electricity and "work" being used for that purpose is likely far less with bitcoin than most other popular global payment and money systems. |