Category: Economics
Ever since Bitcoin’s inception its trust-minimizing consensus has been enabled by its proof-of-work algorithm. The work is performed by so-called miners; power hungry machines
Despite the constantly increasing concerns in Bitcoin’s community on the digital currency’s growth limit, there still appears to be some room left to worry about other subjects.
About 1.5 years ago Digiconomist featured a blog on how a simple concept called “economies of scale” played an important role in explaining why Bitcoin’s Proof of Work algorithm incentivizes hashrate centralization. By restraining Bitcoin’s block size limit, Core developers are about to unleash the same concept on …
On Saturday August 15 2015 the ongoing debate regarding Bitcoin’s maximum block size capacity entered a new phase with the release of Bitcoin XT 0.11A.
In cryptocurrencies you might sometimes hear about an event called the “block reward halving.”
