Proof of Computational Work

Ah yes, another person new on the Internet. Welcome. The blogger doesn't seem to be aware that this is an old idea, dating back to 1992 or earlier (well before the also old 1997 date given in WikiPedia for HashCash). See the references in this paper: http://www.cl.cam.ac.uk/~rnc1/proofwork.pdf

The original "Pricing Via Processing or Combatting Junk Mail" paper by Dwork & Naor from 1992 is http://citeseerx.ist.psu.edu/viewdoc/download?doi=10.1.1.75....

And the follow-on "On Memory-Bound Functions for Fighting Spam" (which is based on the notion that "since memory access speeds vary across machines much less than do CPU speeds, memory-bound functions may behave more equitably than CPU-bound functions") is: http://citeseerx.ist.psu.edu/viewdoc/download?doi=10.1.1.85....

>A novel idea to fight Spam in Distributed Systems with no or minimum State.

It is not novel. It has been discussed extensively in the context of email spam.