2 ms·
> Anybody with a general understanding of how blockchain works should not find this conclusion surprising. Each subsequent block in the chain gets larger, incre
by solosoyokaze 6y ago
> Anybody with a general understanding of how blockchain works should not find this conclusion surprising. Each subsequent block in the chain gets larger, increasing the cost of the necessary resources to sustain the cryptocurrency.
This is 100% incorrect. Energy is spent mining Bitcoin, which has an adjustable difficulty to average mined blocks at rate of ~once per ten minutes. A basic home computer could easily mine all of the blocks if the difficulty was low enough (i.e. there were no other miners).
- doc_gunthrop 6y ago> A basic home computer could easily mine all of the blocks if the difficulty was low enough (i.e. there were no other miners). It's pointless to suggest hypotheticals that aren't even remotely applicable in the real world. Nevertheless, this thread did raise some questions, particularly about scalability (ie. if each block has a max capacity and blocks are mined every ten minutes, how to account for an ever-increasing amount of transactions per time-period between blocks?). There appear to be some proposed solutions to this: https://en.wikipedia.org/wiki/Bitcoin_scalability_problem https://en.wikipedia.org/wiki/Bitcoin_scalability_problem