Thursday, 9 September 2021
Proof of Work Context
Before I begin my interpretations and examples on ‘Proof of Work’ and ‘Proof of Stake’, I need to preface the blog with a DISCLAIMER. You need to remember I’m an ultracrepidarian when it comes to this subject (Day 076). To use Susie Dent’s recently retweeted definition of the word: ‘ultracrepidarian’ (19th century): one who gives opinions and judgements on matters they know nothing about”.
That’s right! I’m not an expert as Winnie the Pooh would say, “When you are a Bear of Very Little Brain, and you Think of Things, you sometimes find that a Thing which seemed very Thingish inside you is quite different when it gets out into the open and has other people looking at it.” (A A Milne, Goodreads). I have put some money into the crypto world and therefore have some skin in the game. The game of which I’m trying to make sense.
An Idea
Well, I woke up this morning and realised how I might provide a relatable “everyday” example of the differences between Proof of Work and ‘Proof of Stake. You see, there’s a lot of documentation out in Internet-land about Proof of Work and Proof of Stake, but none of it is easily consumable – to me at least.
Sure it makes sense if you’re financially savvy and, to some extent, are good at computer games. It’s a strange analogy, but it seems to work. I’m not good at the computer or console games. By the way, I’m not talking solitaire, mah-jong or minesweeper. 🙂 However, it’s a difficult concept to grasp for the most part, even if you intuitively kind of know the difference.
Put simply; a straightforward example is if you go to another country and want to drive. If the government recognises your home country’s Driver’s Licence, that’s Proof of Stake. Alternatively, if you need to sit or perform another driving assessment in the country you’re visiting, that’s Proof of Work.
So, there you have it, Proof of Work is the energy-intensive way of proving the cryptocurrency you invested in exists, and Proof of Stake is the shorter recognised method. Having said all that, when you invest, you don’t notice the difference.
Meanwhile, an Internet search showed any number of articles referring to the differences in the methods used, such as Leaf Score’s article. Comments against the article show very enthusiastic planet supporters, and there’s a list of cryptocurrencies amongst them for energy-efficient investments if you want to play in that space.
Today's Cards
The Cards - Proof of Work Analysis
Carryover Cards
Two cards carried over from yesterday; Experiencing moved from Influence to Now, Sorrow moved from Recent Past to Goal.
Cross
Interestingly, what strikes me in today’s reading is the light in the Distant Past’s Intensity and that in the Influence’s card of Adventure have a similar look. It’s like there’s a connection between the unconstrained energy of Intensity fuelling an Adventure. The Adventure then influences the experience I am having Now (Experiencing).
In contrast, Sorrow is the Goal position. And incidentally, since on occasion I view Sorrow as having self-pity, I feel this way when I become overawed with a new concept – not created by me. However, being in the Goal spot means I was about to throw myself into the Proof of Work or Proof of Stake world regardless.
Recently, however, I’ve been subject to Laziness (Recent Past). There are areas I’ve taken for granted, resting a little too long on my early achievements. Hence, it’s why I’ve been looking at cryptocurrency terminology such as Proof of Work and Proof of Stake.
Luckily the Possibilities card suggests the Future Energy will be more optimistic. I might need to remember Ellen Glasgow’s quote about progress, “All change is not growth, as all movement is not forward” (BrainyQuote). Hmmm.
Base
Sometimes when cryptocurrency enters my life, I feel like I’m warring with myself. It’s also what the Schizophrenia card conveys in the Feelings position. Part of me loves playing in the crypto space, and the Proof of Work and Proof of Stake concepts are surreal and abstract; it requires a leap of faith.
Alternatively, Others’ Views of my dealings with crypto is I’m breaking free from traditional financial strategies. Well, The Rebel is about embarking on your path irrespective of conventional approaches. I can see that. There are elements of advice from the crypto experts I change a little 🙉. Yes, I know; it could lead me into trouble. Fortunately, I’m almost at home there. 😇
Then again, in the Hopes & Fears, I’m hoping for a Transformation but at the same time am fearful of its occurrence.
Ultimately, the Completion card in the Outcome position suggests that I’m more comfortable with the Proof of Work and Proof of Stake concepts.
References
- Osho, Osho Zen Tarot – The Transcendental Game of Zen, St Martin’s Press, ISBN 0-312-11733-7
- Tarot Layouts per month
