Andrew Steinwold


24 Quotes

"The proof-of-work for the social app TikTok is slightly different. TikTok users have 15 seconds to lip-sync or dance to songs in order to mine their currency of likes and views. If a user copies a song or dance that everyone else has already seen, their reward will likely be minimal, but if they do something original then their proof-of-work increases, and their reward likely will too."
Andrew Steinwold
🏆📸🔨Exploring ""Proof-of-Work"" Within The Non-Fungible Token Space
"I would bet that the vast majority of people would prefer the one that took 50 hours if the PoW process was explained."
Andrew Steinwold
🏆📸🔨Exploring ""Proof-of-Work"" Within The Non-Fungible Token Space
"Proof-of-work matters. The story and narrative around creation is very important to people. Work without a narrative is just work, but work with a story becomes a compelling journey."
Andrew Steinwold
🏆📸🔨Exploring ""Proof-of-Work"" Within The Non-Fungible Token Space
"If your proof-of-work is good (valid) then the other system participants will come to a consensus that your work is good, thus achieving status."
Andrew Steinwold
🏆📸🔨Exploring ""Proof-of-Work"" Within The Non-Fungible Token Space
"Social media has created the most effective form for people to quickly achieve status"
Andrew Steinwold
🏆📸🔨Exploring ""Proof-of-Work"" Within The Non-Fungible Token Space
"Proof-of-Work Within NFT Games"
Andrew Steinwold
🏆📸🔨Exploring ""Proof-of-Work"" Within The Non-Fungible Token Space
"Gods Unchained: Create a strong deck and beat opponents."
Andrew Steinwold
🏆📸🔨Exploring ""Proof-of-Work"" Within The Non-Fungible Token Space
"Decentraland: Build unique structures that attract people."
Andrew Steinwold
🏆📸🔨Exploring ""Proof-of-Work"" Within The Non-Fungible Token Space
"My Crypto Heroes: Build a strong team to fight opponents."
Andrew Steinwold
🏆📸🔨Exploring ""Proof-of-Work"" Within The Non-Fungible Token Space
"CryptoKitties: Breed cats to create rare collectible species."
Andrew Steinwold
🏆📸🔨Exploring ""Proof-of-Work"" Within The Non-Fungible Token Space
"Axie Infinity: Breed a strong team and win battles."
Andrew Steinwold
🏆📸🔨Exploring ""Proof-of-Work"" Within The Non-Fungible Token Space
"Cryptovoxels: Build unique structures that attract people."
Andrew Steinwold
🏆📸🔨Exploring ""Proof-of-Work"" Within The Non-Fungible Token Space
"Crypto Space Commanders: Build a powerful ship to mine more resources and control the galaxy."
Andrew Steinwold
🏆📸🔨Exploring ""Proof-of-Work"" Within The Non-Fungible Token Space
"The most obvious difference between proof-of-work for NFT games and regular video games is that NFT game users have skin in the game."
Andrew Steinwold
🏆📸🔨Exploring ""Proof-of-Work"" Within The Non-Fungible Token Space
"It’s interesting to explore PoW models in open virtual worlds that have no direct objective, such as Decentraland, Cryptovoxels, Somnium Space, and The Sandbox. Their culture largely encourages proof-of-work to be user-generated content."
Andrew Steinwold
🏆📸🔨Exploring ""Proof-of-Work"" Within The Non-Fungible Token Space
"What is interesting about open worlds is that the proof-of-work process will likely evolve."
Andrew Steinwold
🏆📸🔨Exploring ""Proof-of-Work"" Within The Non-Fungible Token Space
"As the platforms become more advanced, the PoW will likely become more technical and gravitate towards revenue generation."
Andrew Steinwold
🏆📸🔨Exploring ""Proof-of-Work"" Within The Non-Fungible Token Space
"Explaining the process creates a narrative around the artwork, and I would argue that this deeper understanding makes us like the work more."
Andrew Steinwold
🏆📸🔨Exploring ""Proof-of-Work"" Within The Non-Fungible Token Space
"Proof-of-work does not have to just focus on the creative process: it can also be about the meaning behind a piece."
Andrew Steinwold
🏆📸🔨Exploring ""Proof-of-Work"" Within The Non-Fungible Token Space
"ut the most interesting part is that DGX tokens are pegged to physical gold bullion."
Andrew Steinwold
🏆📸🔨Exploring ""Proof-of-Work"" Within The Non-Fungible Token Space
"Conlan, the founder and developer at Async Art, created a tool called Scribe that allows people to write messages on their tokens."
Andrew Steinwold
🏆📸🔨Exploring ""Proof-of-Work"" Within The Non-Fungible Token Space
"Another interesting potential proof-of-work model for artists is to implement a proof-of-burn structure to sell NFTs."
Andrew Steinwold
🏆📸🔨Exploring ""Proof-of-Work"" Within The Non-Fungible Token Space
"The artist could create a system that says, “In order to purchase my newest NFT, you must send me one of my previous works, which I will then burn.” The artist could even say that you need to burn multiple pieces in order to have the option to purchase a new one."
Andrew Steinwold
🏆📸🔨Exploring ""Proof-of-Work"" Within The Non-Fungible Token Space
"This would reduce the outstanding number of tokens from that artist, thus increasing the rarity of the existing works."
Andrew Steinwold
🏆📸🔨Exploring ""Proof-of-Work"" Within The Non-Fungible Token Space

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