Note — Oct 07, 2018

BitTorrent’s Creator Wants to Build a Better Bitcoin

Seen in → No.52

Source → wired.com/story/bittorrents-creator-wants-t...

It’s too bad he’s concentrating his efforts on a currency instead of the ledger under it, like the multiple blockchain uses others are working on. However, it’s interesting that he’s trying something other than mining via massive CPU usage but I’m not sure how much better his storage idea is in terms of environmental impact.

Cohen gives his version of mining the more bucolic name “farming.” Similar to bitcoin, participants compete to win Chia cryptocurrency in a race that also processes transactions. Unlike in Nakamoto’s system, maximizing your chance of winning depends on amassing disk storage space, not running more powerful—and energy-hungry—hardware.