[Cryptography] Proof of Work is the worst way to do a BlockChain

[John Levine]

In article <CAB7TAM=2-5hd+SnLe_OuiURqQyNKrFmk_piQT=uV5qfLMjZFCg at mail.gmail.com> you write:
>> This is a WKBI.
>
>What is "WKBI"?

Well Known Bad Idea

>> The original proof of work idea to deter spam was
>> Dwork and Naor's Pennyblack in 1992.  While it was certainly clever,
>> it didn't work and doesn't work.  I ran into Dwork at a conference
>> some years later and she agreed that it's too easy to circumvent.
>
>Are you referring to the idea of hackers remotely compromising a bunch
>of computers and using them to compute PoW?

That's one way to circumvent it.  Didn't you read the paper I
referenced in the message you were responding to?

R's,
John