Linked Questions

0
votes
1answer
49 views

Why does mining / validation of new blocks have to be complicated / time consuming? [duplicate]

Why does mining / validation of new blocks have to be complicated / time consuming ? Why it can't be as simple as just find a hash for a text? Is it just to control / limit the amount of new crypto ...
0
votes
1answer
21 views

What is the practical link between the hashing power in the bitcoin network and its security? [duplicate]

Several books claim that as the hashing/computing power increases, the bitcoin network is securer. How can a non-techie sees that from a practical standpoint?
5
votes
3answers
2k views

Beginner's question: Why must proof-of-work be useless?

I wonder why the proof-of-work under no circumstances may be usable. The argument I understand is: If the proof-of-work could be used, its results could be sold, and doing the proof-of-work would cost ...
3
votes
3answers
176 views

Why not speed up block mining?

After reading Why is increasing block size in the Bitcoin network considered to decrease security?, I have a follow-up question about increasing block sizes: why do we not reduce the difficulty of PoW?...
0
votes
3answers
106 views

Why bitcoin is not full p2p?

The goal of bitcoin is to serve as p2p electronic cash. But it still needs a 3rd party (miners) to approve/authorize/record/track/store transactions. The difference is this authority is decentralized ...
1
vote
1answer
120 views

What is the ecological impact of the crypto endgame

I'm interested in the long-term ecological implications of using cryptocurrencies. kraken states in The Truth About Bitcoin: For example, according to a report from 2017, Bitcoin consumes around 8.27 ...
1
vote
2answers
41 views

White paper text is not clear to me

Is there any intention by the respective author or by Bitcoin.org to edit, improve or re-write the white paper for absolute clarity? Among others I do not understand the value of repetitive ...
0
votes
2answers
50 views

How Bitcoin mining contributes to confirmations?

Based on my knowledge I know (maybe wrong) when a miner is doing hash, he is inputting any arbitrary values, in order to get a value that can be hashed into something with certain preceding zeros. ...
1
vote
1answer
47 views

Confused about POW

I'm pretty new to crypto and I'm confused about POW POW Is usually explained like this... A group of transactions are bundled into a memory pool (mempool). Miners verify each transaction in the ...
0
votes
0answers
30 views

What is the purpose of difficult in PoW [duplicate]

I'm trying to understand Proof of Work and something doesn't seem to fit, First, it seems to me that the faster the network can confirm a transaction, better is. I'm coming from a computing ...