Why Yesterday's Consensus Can't Build Tomorrow's Internet
Traditional Proof of Work (1.0)
The original titan. Anyone can mine a block, so censorship resistance is peak. Unquestionably robust in its security model, but requires massive energy consumption on computations (hashing) that, while securing the network, offer no direct utility beyond that. Adding more nodes does not increase the capacity of the network, so scale is very limited.
Proof of Stake (PoS)
The challenger to Bitcoin, promising greater energy efficiency in exchange and marginally better scaling for centralization and decreased security. The more scale you want, the less secure and decentralized the chain becomes.
Enter Psy's Proof of Useful Work (PoUW)
PoUW redefines work. Instead of competing with one another, miners on Psy work together to earn rewards by providing useful computational and data-storage tasks essential for Psy's scalability, security, and user experience. This creates Proof of Work security + a sustainable mining model that aligns the interests of miners and users.
Traditional PoW
- Extremely Secure
- Highly Decentralized
- Censorship Resistant
- Adding more miners does not scale up the capacity of the network
- Serial state model, unable to overcome blockchain trilemma
Proof of Stake (PoS)
- Less secure than PoW Chains
- Somewhat Centralized
- Poor Censorship Resistance
- Adding validators does not scale the network
- Serial state model, unable to overcome blockchain trilemma
Psy PoUW
- Extremely Secure
- Highly Decentralized
- Censorship Resistant
- More Miners = More Scale
- PARTH state model, overcomes blockchain trilemma 🙌
PoUW means: Scalability via useful computation, stronger security guarantees, and perfectly aligned incentives – fixed fees and work that directly benefits users (no anti-user MEV).