New answers tagged proof-of-work
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it will be less and less rewarding to keep adding hashing power for the miners to protect the network and more and more tempting to try a 51% attack even if it just for breaking the confidence in the network.
This is a pretty weak assumption. We don't make any calls for necessity in the Bitcoin hashrate growing, there's no security assumption around that, ...
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Price of Bitcoin: Having very little inflation, its value as a store-of-value would likely be high. High price of bitcoins would make the rewards still worthy.
Technological advantages: Electricity price could decrease if rapid innovation occurs.
Cost of recycling: It might cost miners less to keep mining at a loss than to sell their equipment or recycle ...
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Proof of Stake uses fundamentally the same process as Proof of Work, but with a few key differences.
In Proof of Work miners are searching for a hash of the transactions in mempool + data from the last blockheader, and that hash must be below a certain target value to be accepted by the network. The target is the inverse of difficulty, essentially the new ...
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