What are the ideal properties of a POW method?


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Subjective question, but I wondered if there were any properties, in a totally ideal world, that would be near universally be considered desirable.

For me:

  • Reduced electrical consumption in relation to hardware cost (to limit though not eliminate benefit of inexpensive/subsidised electricity in certain geographies)

  • Require all miners to store and validate the entire blockchain (be a node)

  • No benefit or impossible to pool mining

  • Resistant to botnets

  • Hardware widely available – resistant to monopoly

Any of these particularly contentious? Any other suggestions?

submitted by /u/johnhardy-seebitcoin
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