4 ms·
The best thing about PoW is simplicity. You just add "salt" to input and hash() it. More zero bits at the beginning, the higher chance that others will connect
by milansuk 8y ago
The best thing about PoW is simplicity. You just add "salt" to input and hash() it. More zero bits at the beginning, the higher chance that others will connect their blocks to yours.
I'm still thinking what would happen If bitcoin was without transaction fees and block rewards? Would you mine it?
- npongratz 8y agoThis might help to shed some light: On the Instability of Bitcoin Without the Block Reward [pdf] https://www.cs.princeton.edu/~smattw/CKWN-CCS16.pdf https://www.cs.princeton.edu/~smattw/CKWN-CCS16.pdf