Taiwan, $GOOG, and $PRL… what’s the connection here?
We were promised major moves and strategic partnerships, but seeing a Mag7 name appear (@googlecloud banner) was definitely not on our bingo card.
The pieces are starting to connect.
More digging needed.
A common critique on Proof-of-Useful-Work is that the zero marginal cost of mining drives the network’s security budget and price to zero.
A paper just released by Rafael Pass, a renowned cryptographer at @Cornell /@TechnionLive and research scientist at Pearl Research Labs proves why this argument is flawed.
By analyzing the equilibrium dynamics of PoUW, it shows not only that Pearl’s security budget (and hence price) are at least as high as Bitcoin, but in fact that Pearl will increase the SIZE of the global AI inference market, via Jevons Paradox.
https://t.co/hxRGlC3AI2
@initc3org
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