2 ms·
The main purpose of mining is to secure the block chain. The reward is a the incentive for miners to exist. Each block that gets mined means that in order to
by andrewla 14y ago
The main purpose of mining is to secure the block chain. The reward is a the incentive for miners to exist.
Each block that gets mined means that in order to undo a transaction that was previously in the block chain, an attacker would have to mine a block before the network produced another block on the main chain.
So if your transaction was in block 33123, and the chain looks like
block 41873 : [ parent : ... ]
block 33123 : [ parent : block 41873 ]
block 71282 : [ parent : block 33123 ]
then in order to undo block 33123, an attacker would have to produce three blocks:
block 41234 : [ parent : block 41873 ]
block 39834 : [ parent : block 41234 ]
block 58762 : [ parent : block 39834 ]
before the network produced a new block on the main block chain. So the attacker would have to have 3x the computing power of the remainder of the network.