Another day of research
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Had to rethink a few things. If we decrease block time further (for example to 30 seconds), the difficulty in competition will skyrocket even more. The complexity of mathematical problems would push the hashrate to greater heights. Imagine trying to hack 2MB block within 30 sec block time. It is already hard to do within 1 minute but a further upgrade would be an overkill. I don't know if this possible on current hardware tho (while keeping the same size of transactions). Current GPUs could end up smoking. For now, the block time is 1 minute and the more miner in the network, the greater the competition. That is where Bitcoin gets beaten. Its block time is way too high leaving it vulnerable, so the only "solution" is wasting too much electricity. submitted by /u/Party-Ad-9874 |
