3 ms·
No, it's because competition between miners necessarily drives the hash rate and thus energy usage to scale up with the value of mining rewards and transaction
by brazzy 5y ago
No, it's because competition between miners necessarily drives the hash rate and thus energy usage to scale up with the value of mining rewards and transaction fees.
- cm2187 5y agoBut if there aren't more transaction (as number of transactions), what happens when the hash rate increases? They hash incomplete blocks of transactions? Or does the same block gets confirmed by a greater number of miners?
- est31 5y agoThe second answer, although there is only one "winner" of each block's competition, so it's only one miner/mining pool which ends up confirming a transaction. It's controlled by a hardness parameter that's readjusted automatically in a regular fashion.