New answers tagged hash
3
The reason that is often stated is that you would have to re-calculate all the headers with all the hash values of the whole chain which is practically un-doable.
It's not the mere recalculation of new headers: miners currently create about 8×10^19 block candidates every second. However, at current difficulty levels, it takes about 4.8×10^22 block ...
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Is verification of blockchain computationally cheaper than recreating it?
Yes, far easier
How do you verify the blockchain integrity? Don't you also have to recalculate all the values to see whether they are valid?
No.
The miner has to find a value for parts of the block they can choose a value for, such that a hash of the block has a certain number of ...
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Speaking of bitcoin (other cryptocurrencies may do things a bit differently but the principles will likely be similar) and simplifying slightly (i.e. not discussing stuff like segwit).
For ECDSA a private key is simply a large (psuedo)-random number. Depending on the particular wallet implementation the private key may be generated and stored, or it may be ...
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