Michael Francis
Jun 6 · 2 min read

DLT, Why Proof of Work (works)

Photo by Olga Serjantu on Unsplash

Consider that there are two mines; either mine can mine gold or silver. It costs the same amount of effort to mine gold as it costs to mine the exact value of silver. To mine either commodity, the mining company has to pay people in gold to work in the mines, provide equipment, etc. The yield on silver is much higher than that of gold. You can get ten units of silver for each unit of gold.