With @ethereum heading for #TheMerge, it’s a good time to remember how consensus mechanisms work, especially our very own Proof of Less Work and the benefits it brings to the security of our network.
2/ We wrote an article about it in our blog. If you didn’t read it yet, now’s a good time! Especially since next thursday @wachmc will do an AMA on our Discord on this subject!
In classical proof of work, miners use equipment like GPUs, FPGAs or ASICS and energy to solve hashing problems: mining cost is the combination of equipment cost and energy costs.
This started well, but while writing it, it took on a life of its own as we went further down the rabbit-hole, so it’s a bit of a monster thread! Please bear with us!
First, some definitions! You can skip that if you’re already an expert!