It works since 2009 and it will continue to work.
Only the mining nodes need to verify the ledger, all the other ones are just network noise. The individual user will have a tremendous amount of processing power which won't be needed by the average user.
It seems to me that there are a lot of variations are on the way, but conceptually Blockchain will have to face the fact that it can not compete with blockless currencies which do not need miners such as IOTA.
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