We've all had a lot of discussion about it. Rather than posting my opinion on it, I wanted to share this talk from usenet about what they've learned from it.
I'd have to look at options for proof of work systems to see what is available if I were implementing such a system. I imagine the target would be a mid-range smartphone which would have dedicated hardware to handle cryptographic operations.
Upon some skimming, Hashcash seems like a candidate solution. It uses SHA-1 hasing which is common enough that most smartphones have dedicated hardware to handle the operations and wouldn't be at as much of a disadvantage over a PC as it would when using algorithms that don't have dedicated hardware implementations.
I'd have to look at options for proof of work systems to see what is available if I were implementing such a system. I imagine the target would be a mid-range smartphone which would have dedicated hardware to handle cryptographic operations.
Upon some skimming, Hashcash seems like a candidate solution. It uses SHA-1 hasing which is common enough that most smartphones have dedicated hardware to handle the operations and wouldn't be at as much of a disadvantage over a PC as it would when using algorithms that don't have dedicated hardware implementations.