"reach out to 10 different testing companies and say 'here's $10k. first person to test this makeup and tell me if its good or not gets it. But you want to make sure the test was good so you you have the other companies double check the tests and make sure they're correct and conform to the right standards, so you pay the other companies $500 each. Mining works the same way where one person mines a block and gets the biggest reward and the other miners validate that it was done correctly and get a smaller reward."

That is just not true at all.