PoW may tie the token value to a real resource, but that's a correlation where many advocates get the causation reversed. Because of difficulty adjustment, the energy devoted to hashing is the result of the current price, not the other way around.
PoW may tie the token value to a real resource, but that's a correlation where many advocates get the causation reversed. Because of difficulty adjustment, the energy devoted to hashing is the result of the current price, not the other way around.
Even if we maintain proof of work chains as the fundamental consensus tech, there is absolutely nothing (aside from momentum) stopping the community from decreasing the block reward to the a lower value required to prevent double spends of reasonable size. The current hashing power and energy burn in Bitcoin is absurdly oversized for that specific purpose.
You could even maintain the current coin issuance schedule - there is absolutely no need to burn coins into existence, you could simply distribute them randomly to existing holders.