The Decline and Rebirth of PoW: Returning to True Decentralization

In the past, PoW (Proof of Work) was a symbol of the free spirit in the crypto world. Bitcoin demonstrated to the world through PoW that decentralization is possible. However, with the concentration of computing power, mining pool monopolies, and accusations of energy consumption, PoW coins have gradually been marginalized, and people have begun to question whether there is still a future for them.

The decline of PoW is fundamentally not due to energy consumption, but rather the loss of decentralization. Initially, ordinary people could mine with personal computers and freely participate in network consensus. But today, computing power is controlled by mining giants, with mining pools holding over 50% of the hash rate, pushing small miners out of the network. PoW has transformed from a freely participatory system into a battleground for capital concentration. With decentralization lost, PoW has naturally lost its vitality.

If PoW is to rise again, it must return to its original intention: to allow individuals to regain their right to participate.

First, it is essential to design new algorithms that are resistant to ASICs and centralization, maintaining the feasibility of CPU and GPU mining to prevent oligopolies of computing power.

Second, encourage the development of small mining pools and limit the hash rate proportion of large mining pools to break the dominance of centralized interest groups.

Third, PoW projects should actively explore new practical scenarios, such as integrating decentralized storage, AI computing, and scientific research, to ensure that mining activities genuinely create added value and break the stigma of "meaningless energy consumption."

Fourth, the PoW community should strengthen its narrative and clearly communicate to the world: PoW is not outdated, but rather the last bastion of freedom. In an era filled with censorship, manipulation, and trust crises, the only truly trustworthy thing is the immutable commitment of computing power.

PoW should not betray itself to cater to the capital market. The true revival of PoW relies not on compromise, but on reigniting the will for freedom and individual power. This path is difficult, but it is also the belief worth upholding in the crypto world.