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Ask HN: How can cryptocurrency be always in power resource hunger
As in today high algorithms science & technology it seems weird how cryptocurrency can be power resource hunger
- eimrine 6y agoYour answer is in bitcoin.org/bitcoin.pdf document. There is so-called Time Server which is needed for constant number of blocks to be produced while number of miners might be any. So, it is not the cryptocurrency is power hungry, but users.
- cpach 6y agoAFAIK there is ongoing research to make cryptocurrencies that are not power-hungry.
- gt565k 6y agoThere are PoS consensus algorithm blockchains like Cardano and others. PoW - proof of work is first gen blockchain tech that requires heavy work by CPUs/GPUs. PoS is next gen blockchain tech that solves this issue.
- blackcats 6y agoIf talk about bitcoin, miners need to get a hashing result. The faster they can do hashing, the more likely you mine the coin. The mining difficulty increase, thats why bitcoin is power hungry. However this is the first cryptocurrency from over a decade ago, there are many other cryptocurrencies snd I don’t think this generalization holds true
- doggosphere 6y agoI'm giving away $300,000 USD to whoever solves a math puzzle first. The most efficient way to solve it is through random guessing. Oh, and the game resets every 10 minutes, where I'll give away the same prize again. For 4 years total, then I half the prize. Go.