\Proof-of-Work" Proves Not to Work
作者： Ben Laurie , Richard Clayton
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摘要: A frequently proposed method of reducing unsolicited bulk email (\spam") is for senders to pay each they send. Proof-of- work schemes avoid charging real money by requiring demon- strate that have expended processing time in solving a crypto- graphic puzzle. We attempt determine how di-cult puzzle should be so as efiective preventing spam. analyse this both from an economic perspective, \how can we stop it being cost-efiective send spam", and security \spammers access insecure end-user machines will steal cycles solve puzzles". Both analyses lead similar values di-culty. Unfortunately, real- world data large ISP shows these di-culty levels would mean signiflcant numbers legitimate unable continue their current activity. conclude proof-of-work not solution the problem
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