The truth behind Bitcoin’s shortcut: because the miners do not lie on the block of apartments
For years, one of the most discussed topics in the cryptocurrency community was a question of blocks of blocks and mining speeds. One of the basic aspects of Blockchain technology is how long the minemates occupy the new block, known as “blocking time”. This question caused intense discussions about incentives for miners to be honest with their time.
Problem: lie on the block of apartments
At the beginning of the bitcoins, many miners existed or even produced their extraction speed to say that they had produced blocks at a faster pace that actually. This has often been called “time inflation”. Walking the time of the blocks, miners can say that they have reached higher speeds and obtain more cryptocurrency prizes.
However, in fact, most Bitcoin miners are not as qualified or powerful as they say. Much simply uses relatively economic mining equipment, such as processors or GPUs, which do not require significant calculation power. In addition, the distribution of the abbreviation speed in various swimming pools has led to a natural harness to low -power machines.
Advantages: honesty and honesty
Honesty on the blocking time is necessary to maintain trust in the Bitcoin network. Being transparent in terms of actual extraction speed, miners can:
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What encourages miners to maintain the truth?
Several factors contribute to the readiness of the miners to follow the honest blocks of the blocks:
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- The consent of the entire network : the structure of the decentralized network guarantees that if most of the miners accept to estimate, it is more likely.
- Mercato forces : the price of bitcoins and other cryptocurrencies is influenced by the moods of the market; When most of the miners report fair times, the perceived currency value remains relatively stable.
verdict: because the miners do not lie
Although the integrity of the time of the blockage may seem like a simple question, it should be remembered that even with encouragement, the truth eventually reaches. The benefits of honesty prevail for potential penalties or prizes for fraud.
As the bitcoin network increases and mature, its decentralized management structure will guarantee that honesty will remain the norm. The miners, who are true for their blocks of blocks, not only contribute to a fair system, but also show confidence in the cryptocurrency community as a whole.
Application
Bitcoin Blockchain technology is based on decentralization and honesty. Having honest blocks of apartments, miners not only maintain the integrity of the network, but also strengthen its basic principles. The next time you finish Bitcoin or check your account balance, remember that honesty is the basic aspect of this digital economy.