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onetruekirk.eth
@onetruekirk
The goal of this line of research is to create a denomination whose supply characteristics are not controlled by a trusted party, and which is suitable for both long and short term debts Proof of Work is the only known mechanism to define a deterministic cost of production for a digital asset
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onetruekirk.eth
@onetruekirk
It’s wasteful to produce a large number of currency units via Proof of Work, so a lender can pre-generate supply to lend, with the cost of production needed only for marginal increase to ensure borrowers cost of repayment is capped to a deterministic value
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