![]() ![]() ![]() It’s simply too expensive to do so.Įven if a miner could control more than 50% of the network it’s likely that he or she would protect the network to maintain their source of mining revenue. It pretty much guarantees that there is a very small probability that any one miner will control a majority of hashing power and be able to launch a 51% attack. Miners need to consume electricity and computational power to find coins, but they also need more and more electricity to become a larger part of the network. The intent of this protocol is to ensure one person doesn’t become too important to the network. Those lucky enough to solve a hash and find a block receive a reward and the transaction fees from that block. ![]() This type of mining requires your computer to use its CPU to contribute computational power and solve cryptographic problems or hashes. Most of you are probably familiar with the Proof of Work protocol used in Bitcoin mining. 4 Part 3 – Prepare HDD by Writing Plots.3 Part 2 – Fund your Wallet and Secure your ID. ![]()
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