Hash Purpose: A critical misconception in Bitcoin ecosystem
For more than a decade, Bitcoiners have relied on two basic rules to secure their decentralized network: locking time and hash target. However, a more careful examination of these principles reveals a potential deficiency that could endanger the integrity of the blockchain.
Bitcoin Whitepaper is clearly stated that the blocking of the block should start with a certain number of zero. In addition, this zero number is adjusted every two weeks using a new block and comparing its result with jogging. This raises an important question: Why are the Hash target numbers not fixed as 2 powers?
Problem with 2 powers
Currently, Bitcoin hash target numbers follow the model where they increase by one each time the block is obtained. However, this does not meet the basic requirement that the number of zero should be adjusted every two weeks. In other words, why can’t Hash go as 2, for example, 1, 3, 9 or 25? In doing so, we ensure that block times remain unchanged and maintained network security.
Fixed Hash target effects
If Bitcoiners follow the traditional Hash target increase in the pathway every time a new block is obtained, it would have a significant effect on the blockchain. For example:
1
Unconsistent Block Times : Fixed Hash goal could lead to inconsistent block time, as different miners can work with different Hash target values.
- Increased safety risks
: With greater variability in the block times and possible mismatches, network security could be threatened.
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The potential for reduced unanimity : If several miners use different Hash target values, there is more likely that consensus is disrupted throughout the network.
Conclusion
While Bitcoin white paper outlines special requirements for the blocking time and hash target, it is unable to deal with the fixed Hash target number of the basic question as 2.
To maintain Bitcoin’s stability and reliability, take into account a new approach: Hash target that follows the expected model, for example, increases by one two weeks or using a certain power 2 (eg, 1, 3 or 9) in the area, to ensure the consistency of the block during the block, reduced Security risks and improve consensus throughout the network.
What does this mean for the future of Bitcoin?
The consequences of this issue are far -reaching. If the HASH target is adopted, it could increase the check of regulators, financial institutions and other stakeholders, which rely on secure decentralized networks.
As the cryptocurrency landscape continues to develop, developers and enthusiasts must be vigilant in dealing with these basic questions. The next step in Bitcoiners is likely to include alternative approaches to study, which mainly prioritize consistency, safety and stability.
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