This feature implements the Proof-of-Work / Proof-of-Transaction (PoW/PoT) consensus which will make BTC a more decentralized blockchain. Instead of mining using dumb work, the consensus uses SMART work. Miners hash using their own utxo hashes to do the PoW. An attacker can’t simple turn on a large farm of ASICs to attack the network, they must slowly build up their transactions to gain enough utxos so they can mine using them. The maximum possible hash rate continues to increase as more utxos are added to the chain. Miners must keep adding more CPUs to hash the growing utxos.
This feature has been added to BitcoinPoW (BTCW), and is now presented to the BTC core team. Luke Dash Jr was presented with this feature back in December.
The PoW/PoT consensus forces solo mining and prevents mining pools from forming; this leads to the best decentralization possible. This new mining system also makes it much harder to attack the network as instantaneous power cannot be created, it must be slowly accumulated.
