If this is correct then if we had a cryptographic lottery players would devote the same amount of "work" to attempting to game the lottery that they presently burn by pumping electricity into mining ASICs.
The point of cryptographic lottery is that it's not proof of work scheme where dong work can improve changes and be profitable.
It's possible to define a decentralized objective consensus without PoW and make it unprofitable to use sybil attacks and other methods to game the system.
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Elsewhere in this thread I posted this:
http://www.truthcoin.info/blog/pow-cheapest/
If this is correct then if we had a cryptographic lottery players would devote the same amount of "work" to attempting to game the lottery that they presently burn by pumping electricity into mining ASICs.
The point of cryptographic lottery is that it's not proof of work scheme where dong work can improve changes and be profitable.
It's possible to define a decentralized objective consensus without PoW and make it unprofitable to use sybil attacks and other methods to game the system.