there is roughly about 3-4 topics about this subject on the forum. search keywords like "power consumption" and "mining" and things like that and you will find them!
Thank you. I will try.what you need to learn about is "difficulty" it is not some fixed number that rises with block height. it is a number that is mainly adjusted based on hashrate or in other words how many miners are there. if a miner quits, the hashrate goes down and the difficulty adjusts accordingly to make it easier to find blocks for the rest of the remaining miners. the opposite will happen when more miners come in and increase the hashrate.
it is done so that we have 1 block every 10 min or more accurately 2016 blocks per 2 weeks. so no matter how many miners there are we will end up having this much blocks in the fixed time frame of 2 weeks which is the difficulty adjustment period of bitcoin.
it is done so that we have 1 block every 10 min or more accurately 2016 blocks per 2 weeks. so no matter how many miners there are we will end up having this much blocks in the fixed time frame of 2 weeks which is the difficulty adjustment period of bitcoin.
Thank you for that information.
By the way, I have a question: The transactions are approved by the network. So "the network" is all of miners, right?
