What if proof of work doesn't waste energy?
Hi guys, I wanna to ask a question and know your ideas about one of the most annoying things in our gorgeous cryptocurrency, POW. I try to read every whitepaper that I could find with innovation in consensus algorithms. They have really awesome ideas but they are mainly try to reduce the waste of energy by reducing computational power. But what if we don't reduce computational power. There are lots of process based problem everywhere everyday like NNs and CFD. What if we had a VM that some body who needs process like hell could write a problem in it. Then miners don't waste their energy for hashing and solve that real problem for POW?
Whats your idea? Is there any research in this area?
Then it would no longer be decentralized, a single VM owns the entire network. If the people who own the VM decided to make more token out of thin air on the network, they do it and sell for millions of dollar and let the entire ecosystem dies. Regardless, how to you get electricity to run NNs and CFDs?
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