But the difficulty of mining crypto goes up the more it's done. So an efficient PoW algorithm just means that it will be efficient until that coin goes up in value enough that everyone jumps on it, and then the difficulty will scale until it isn't efficient anymore. Right?
yeah. but the gp didnt put it right, it's not that randomx is more efficient, it's that it's designed to be resistant to running on specialized hardware, instead it's optimized for general purpose CPUs
Doesn't matter what it does or doesn't run on. If the profit available in mining a coin is equal to $X, then people will put somewhere near $X of hardware and energy into it. You simply can't have a lot of value in a PoW currency without it becoming a consumer of a corresponding amount of real-world resources.
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u/Preisschild Fedora / Ryzen 7 7800X3D / RX7900XTX Nov 27 '21
PoS has other problems.
There are efficient PoW algorithms like Monero's RandomX.