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proof of work is in a sense often misleading. bitcoin is not a proof of work coin in its definition - its a proof of hardware coin. invention of asics turn many proof of work coins to proof of hardware coins. proof of hardware coin is distinct from proof of work coin, because most of the work is done by the hardware manufacturer. its practically impossible to do the required work without purchase of specific hardware. this post is not to say which one is better. proof of hardware (poh) coins have specific benefit over pow: limited availability, slowlesness of movement in hardware. pow coins can be attacked by renting extreme amount of free computing power. asic markets probably dont have enough rentable hardware available to attack the network. yet we can arque, whether any attack on pow coins through rented hash power is economically feasible. my blind guess is: no. attacker is always playing against the house and statistically loose money.