Let's talk about Adam Back.
Adam Back is a cryptographer who invented Hashcash in 1997.
One easily overlooked point: the core property of proof of work is that it is “hard to compute, easy to verify”: finding a hash that meets the requirements takes many attempts, while verifying it takes just one calculation.
Understanding how mining works can help explain what changes in computing power mean, but there is no simple relationship between computing power and coin prices.
The mining mechanism of $BTC was inspired by Adam Back's Hashcash.
#BTC
Adam Back is a cryptographer who invented Hashcash in 1997.
One easily overlooked point: the core property of proof of work is that it is “hard to compute, easy to verify”: finding a hash that meets the requirements takes many attempts, while verifying it takes just one calculation.
Understanding how mining works can help explain what changes in computing power mean, but there is no simple relationship between computing power and coin prices.
The mining mechanism of $BTC was inspired by Adam Back's Hashcash.
#BTC
