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2A96C7AA-9F76-4D09-828F-ADF86BF6B131 |
The Merge |
NVIDIA has a plan for a POW Ethereum fork, and the discussion goes through the incentives and challenges surrounding it. Who benefits from it and how it can affect the industry? |
2022-08-30 18:00:00 -0500 |
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39 |
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1684 |
- What if miners continue to mine!!!??? Let's call it POWNet! Difficulty goes down
- Who benefits from POWNet? Who is likely to be the loudest advocate
- the biggest miners // because they have a sunk cost in mining equipment which becomes useless in POS
- NVIDIA EthHash
- What is the economic incentive to validate on a non-mainstream POS network?
- incentive = stake/{total stake} * value
- USD 1M of marketing sells USD 100M of pictures of animals // so USD 10B of marketing can make POWNet valuable enough that miners use it and NVIDIA's stock goes up 40%
- POWNet will be broken for most bridges
- On POWNet what about the difficulty bomb!?
- [https://www.pcmag.com/news/nvidia-decreased-demand-means-gpu-price-cuts#:~:text=The%20falling%20demand%20represents%20a,which%20led%20to%20skyrocketing%20prices](https://www.pcmag.com/news/nvidia-decreased-demand-means-gpu-price-cuts#:~:text=The falling demand represents a,which led to skyrocketing prices)
- https://twitter.com/takenstheorem/status/1560690035955011585/photo/1
Short: NVIDIA plan for POW Ethereum fork / tw