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A proof-of-work (POW) system is an economic measure to deter denial of service attacks and other service abuses such as spam on a network by requiring some work from the service requester, usually meaning processing time by a computer.

2 votes

Why is my proofOfWork() working on every nonce?

I think you are referring to this: https://www.ethereum.org/token#proof-of-work. So if it goes through every time the relevant code must be: if (n < bytes8(difficulty)) throw; Have you tried …
Roland Kofler's user avatar
3 votes
Accepted

Unable to understand PoW Algorithm?

The main purpose of any Proof of ... system is to pick a random node to confirm that nobody cheated in the last block(s). And it does so in a decentralized way, i.e. no central random generator. L …
Roland Kofler's user avatar
6 votes

With POS, will Ether stay be a necessary fuel to run the network?

It is absolutely necessary, because any form of Proof of ... requires those who secure the network to be rewarded. The goal of any consensus form is to attract many nodes to a game like roulette. The …
Roland Kofler's user avatar
2 votes

How do I use the proof of work function given in here: https://www.ethereum.org/token#proof-...

The idea of the nounce is that you as a miner try to guess the correct number and therefore you can include any value you like. There is no way of guessing the right nounce, and the work the miner has …
Roland Kofler's user avatar
12 votes

Will a higher stake make more money in PoS?

It's counterintuitive but PoS is fairer than PoW (as we know it). Economies of scale: a proportionate saving in costs gained by an increased level of production. http://www.investopedia.com/term …
Roland Kofler's user avatar
4 votes

Hashes per Ether, before and after PoS

The number of hashes depends on the number of miners that partecipate in a lottery to win the Ether fee. Therefore you can not have a number NoHashes/Eth. The hashing is a way do have a distributed …
Roland Kofler's user avatar