The Case for Taxing Proof-of-Work


The Bitcoin community supplies bitcoin homeowners with a novel kind of safety – proof-of-work. Proof-of-work, or PoW, is a technique for securing a community in a decentralized method. The method, nevertheless, is extremely energy-intensive, requiring 1000’s of competing processors, or miners, to carry out redundant calculations. Different types of safety, say that underlying devices listed on the Nasdaq inventory trade, depend on cheaper centralized strategies.

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