3 ms·
Proof of work is oblivious to efficiency. Efficiency gains are met by equivalent increases in mining difficulty, since the network attempts to calibrate towards
by ufo 8y ago
Proof of work is oblivious to efficiency. Efficiency gains are met by equivalent increases in mining difficulty, since the network attempts to calibrate towards a constant mining rate.
- wavepruner 8y agoEquivalent increases in mining difficulty is the goal, as that secures the blockchain.
- imtringued 8y agoNo it doesn't if not everyone has access to the ASICs. If 30% of miners use highly efficient ASICs that are twice as fast they become the majority.