The decentralized transaction processing system is a good idea

shulio

legendary

Activity: 1540

Merit: 1016

Quote from: ethbtc444 on January 23, 2018, 09:38:17 AM

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This model has some drawbacks, such as the cost of digging more expensive and consuming huge amounts of electricity, but this is not the biggest problem. The "ticking bomb" behind bitcoins and similar analogues is that if the market value of the bonus falls below the cost of digging, the miners will stop digging, meaning that no one else will handle the transaction. Eventually the whole system will stop working.
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When some miners stop mining, the difficulty of mining new blocks will decrease. After difficulty adjustment, mining Bitcoin will become profitable again. The mining model behind Bitcoin is well planned and well adjusted.

Tapyaks72

member

Activity: 490

Merit: 28

Quote from: ethbtc444 on January 23, 2018, 09:38:17 AM

As with any blockchain-based technology, all digital signage support infrastructures are dependent on the decentralized transaction processing system. In the case of bitcoins, these are "miners" awarded with bitcoin.

This model has some drawbacks, such as the cost of digging more expensive and consuming huge amounts of electricity, but this is not the biggest problem. The "ticking bomb" behind bitcoins and similar analogues is that if the market value of the bonus falls below the cost of digging, the miners will stop digging, meaning that no one else will handle the transaction. Eventually the whole system will stop working.

As for altcoin coins not rewarded for new coin miners, the reason to join the lower the fever when the fever.

Then what is the solution? The answer is central transaction processing systems - such as Visa, Mastercard and all banks. According to this inference, the money does not mean anything.

The infrastructure that works behind Blockchain technology is very well established mine rigging is quit expensive at the start but in the end it end up
profitable and besides there are also some sector who are thinking of using renewable energies to feed up their rigs to became sustainable in the future.
But worse come to worse there is also a possibility that it might happen but in a lower probability in our time I don't see any sign that Bitcoin would end that way.

ethbtc444

newbie

Activity: 8

Merit: 0

As with any blockchain-based technology, all digital signage support infrastructures are dependent on the decentralized transaction processing system. In the case of bitcoins, these are "miners" awarded with bitcoin.

This model has some drawbacks, such as the cost of digging more expensive and consuming huge amounts of electricity, but this is not the biggest problem. The "ticking bomb" behind bitcoins and similar analogues is that if the market value of the bonus falls below the cost of digging, the miners will stop digging, meaning that no one else will handle the transaction. Eventually the whole system will stop working.

As for altcoin coins not rewarded for new coin miners, the reason to join the lower the fever when the fever.

Then what is the solution? The answer is central transaction processing systems - such as Visa, Mastercard and all banks. According to this inference, the money does not mean anything.

Topic: The decentralized transaction processing system is a good idea (Read 141 times)