it looks like a distributed search for sets of values
having their sha256 starting with N zeroes, N+1, N+2 ...
with target values having property something like this
Kth value = (K-1)th || <value to find at step K>
One can only wonder where the seed money came from (and whether the current price of 50BTC x $0.25 = $12.5 per newly found value is self-sustainable in the system or still seed-funded) and
whether the NSA have a listening node in the system (as all the transactions are broadcast to all nodes).
One can only wonder where the seed money came from (and whether the current price of 50BTC x $0.25 = $12.5 per newly found value is self-sustainable in the system or still seed-funded) and whether the NSA have a listening node in the system (as all the transactions are broadcast to all nodes).