Gravity

Newton diffracting an UTXO with payment batching

Prologue: The Cryptopocalypse is coming

Pot pourri

What is the utility of Bitcoin’s PoW ?

Section 4

The main utility of Bitcoin’s PoW is to secure an economic history. (1)

Digital Gravity

Proof of Work is Global and Cumulative

Let’s make a few assumptions

Number of “Bitcoin.Hashes Secured” by an UTXO

Satoshi’s Wall (number of seconds required to compute the PoW of a past block with 100% of the average computing power used during the period between 2 difficulty adjustments)

Number of “Bitcoin.Days Secured” by an UTXO

Bitcoin’s PoW efficiency

The Unit Cost only depends on the rules defining the controlled supply of the currency. It is defined by design.

Conclusion

Acknowledgments

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