Topic: What's the point of lower block targets? (Read 533 times)
Well honestly it doesn't really matter what retargeting time is but i would like to think it makes the coin distribution more fairer with lesser time
Dev say it helps prevent from instamining.
Pos hasnt been proven it has its own issues.. If it is proven it makes a strong case that bitcoin should be converted to pos or something because it just makes sense in all aspects.. However for bitcoin the threat of a single entity with alot of money is probably bigger than someone with most hash who is out to destroy the coin..have we past the point where taking control over bitcoin network would be cheaper by buying mining hardware over owning half the market cap? Which one is more likely to be a bigger threat?? straying off topic
Yes you are. Noone was saying to make Bitcoin PoS, just saying that there is no point to alts that are there just for lower block targets.
Pos hasnt been proven it has its own issues.. If it is proven it makes a strong case that bitcoin should be converted to pos or something because it just makes sense in all aspects.. However for bitcoin the threat of a single entity with alot of money is probably bigger than someone with most hash who is out to destroy the coin..have we past the point where taking control over bitcoin network would be cheaper by buying mining hardware over owning half the market cap? Which one is more likely to be a bigger threat?? straying off topic
The only real benefit I can see is the ability to reuse the coins however even this could be circumvented if a coin simply were to have their protocol able to use coins that are already broadcast to the majority of the network as having been received.
Honestly bitcoin and litecoin seem like the only real needed currencies since litecoin only has a 2 and half min block time. Obviously any other cryptos with good innovations such as greener cryptos using POS have purpose, any that simply have lower targets simply have no real use.
I think the only real purpose is the gimmick that most people think faster confirmations mean security since the public obviously have no understanding of how orphans and how double spends are handled.
Honestly bitcoin and litecoin seem like the only real needed currencies since litecoin only has a 2 and half min block time. Obviously any other cryptos with good innovations such as greener cryptos using POS have purpose, any that simply have lower targets simply have no real use.
I think the only real purpose is the gimmick that most people think faster confirmations mean security since the public obviously have no understanding of how orphans and how double spends are handled.
Seems tied to relaying..
Person sends coins to exchange to sell or buy.. with bitcoin spend takes atleast 10 mins but with another takes 30 seconds.
I think these shorter block coins will be phased out when we see decentralized exchanges roll out..
at thay point Id rather have the 10 min safe block time and have less
blockchain bloat as a bonus.
Person sends coins to exchange to sell or buy.. with bitcoin spend takes atleast 10 mins but with another takes 30 seconds.
I think these shorter block coins will be phased out when we see decentralized exchanges roll out..
at thay point Id rather have the 10 min safe block time and have less
blockchain bloat as a bonus.
I'd personally have to agree with the original poster. It seems rather redundant from my point of view also. So yea I too cannot see the point of lower block targets .
Faster confirms.
~BCX~
The point being? I'm seeing no real purpose of confirms other than what I've said before? Transactions are always going to be included in the blockchain regardless if they originate in an orphan block and double spends have very rarely been able to be done.~BCX~
Some people believe that there is some kind of advantage to having a much shorter block interval. Mathmatically speaking, there is none.
Faster confirms.
~BCX~
The point being? I'm seeing no real purpose of confirms other than what I've said before? Transactions are always going to be included in the blockchain regardless if they originate in an orphan block and double spends have very rarely been able to be done. ~BCX~
Anyone?
After looking well into the cryptocoins and how transactions and orphans are handled I'm seeing no reason for block target times to be below 10 minutes much less under a minute. All transactions that go into orphan blocks will be incorporated into the blockchain anyway so what's the point of a low block target? Other than to be able to spend the coins again or verify that a double spend hasn't occured?
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