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GeneralRe: my first source code generator, yea!.. and a question Pin
Super Lloyd7-Dec-21 16:12
Super Lloyd7-Dec-21 16:12 
GeneralRe: my first source code generator, yea!.. and a question Pin
honey the codewitch7-Dec-21 16:55
mvahoney the codewitch7-Dec-21 16:55 
GeneralRe: my first source code generator, yea!.. and a question Pin
Super Lloyd7-Dec-21 21:49
Super Lloyd7-Dec-21 21:49 
GeneralRe: my first source code generator, yea!.. and a question Pin
Richard Deeming7-Dec-21 22:32
mveRichard Deeming7-Dec-21 22:32 
GeneralRe: my first source code generator, yea!.. and a question Pin
Super Lloyd7-Dec-21 22:47
Super Lloyd7-Dec-21 22:47 
GeneralAn interesting blockchain read PinPopular
David O'Neil7-Dec-21 5:18
professionalDavid O'Neil7-Dec-21 5:18 
GeneralRe: An interesting blockchain read Pin
raddevus7-Dec-21 5:31
mvaraddevus7-Dec-21 5:31 
GeneralRe: An interesting blockchain read PinPopular
Fabio Franco8-Dec-21 0:00
professionalFabio Franco8-Dec-21 0:00 
It's because Ethereum and Bitcoin are based on an already legacy consensus algorithm (Proof of Work). Several better alternatives were devised (if you google blockchain consensus algorithms, you gonna find a bunch of them).

How proof of work works is basically guessing a number (hash), so whoever guesses first, gets the transaction reward. That guess is then validated by the remaining of the network to "prove" it's validity. Because guessing takes resources (computational power), it's not easy or cheap to fake a transaction and convince the network of it. Because to fake the latest "block", you would need to recalculate all the blocks behind it (that's where block"chain" comes from). Every new block's hash is based in the previous block.
So each new block makes it harder to overwrite the network. It's expensive and you sill may not be able to convince the rest of the network, it's not a wise investment. Very likely you will not succeed (otherwise bitcoin and etherum would have been taken over already).

Problem comes when the network grows (in nodes and transactions). The network adjusts itself and increases the difficulty of the guess, because more people are trying to guess. Instead of trying to guess a number from 1 to 10, you start needing to guess 1 to 100, then 1 to 1000, so on and so on. And that's when things become wasteful on Proof of Work based blockchain networks.

So the problem is that Proof of Work does not scale well, driving the energy costs up. Other consensus algorithms such as the one Ethereum is trying to adopt (Proof of Stake) does not rely on computing power to strengthen itself. The miner instead stakes wealth (for Ethereum, it's Ether). So instead of guessing you need to put your valuable crypto on the block pot instead of spending your valuable energy trying guess how much is in the pot. That is what protects the network from attacks. You need to stake a lot of money on an attack and if you're not successful you're going to lose it all.

The challenge of "upgrading" (to be more precise, is to change the algorithm for mining and validation), which Ethereum has been trying to do for years is that you actually need to convince the majority of the network to flip the switch at the same and synchronize it well, otherwise it will fail or interrupt the network. So it's quite challenging to change something in the network once it's widely stablished.

To alcohol! The cause of, and solution to, all of life's problems - Homer Simpson


Our heads are round so our thoughts can change direction - Francis Picabia

GeneralRe: An interesting blockchain read Pin
raddevus8-Dec-21 3:14
mvaraddevus8-Dec-21 3:14 
GeneralRe: An interesting blockchain read Pin
Yortw8-Dec-21 8:44
Yortw8-Dec-21 8:44 
GeneralRe: An interesting blockchain read Pin
raddevus8-Dec-21 9:07
mvaraddevus8-Dec-21 9:07 
GeneralRe: An interesting blockchain read Pin
Gerry Schmitz7-Dec-21 6:16
mveGerry Schmitz7-Dec-21 6:16 
GeneralRe: An interesting blockchain read Pin
Fabio Franco8-Dec-21 0:07
professionalFabio Franco8-Dec-21 0:07 
GeneralRe: An interesting blockchain read Pin
Fabio Franco8-Dec-21 0:04
professionalFabio Franco8-Dec-21 0:04 
GeneralRe: An interesting blockchain read Pin
trønderen8-Dec-21 3:22
trønderen8-Dec-21 3:22 
GeneralRe: An interesting blockchain read Pin
Kirk 103898218-Dec-21 4:50
Kirk 103898218-Dec-21 4:50 
GeneralRe: An interesting blockchain read Pin
BernardIE53178-Dec-21 4:11
BernardIE53178-Dec-21 4:11 
GeneralRe: An interesting blockchain read Pin
mngerhold8-Dec-21 22:22
mngerhold8-Dec-21 22:22 
GeneralRe: An interesting blockchain read Pin
David O'Neil9-Dec-21 7:52
professionalDavid O'Neil9-Dec-21 7:52 
GeneralRe: An interesting blockchain read Pin
mngerhold9-Dec-21 21:47
mngerhold9-Dec-21 21:47 
QuestionPoll: 3 Manager References? Pin
raddevus7-Dec-21 4:32
mvaraddevus7-Dec-21 4:32 
AnswerRe: Poll: 3 Manager References? Pin
PIEBALDconsult7-Dec-21 4:39
mvePIEBALDconsult7-Dec-21 4:39 
GeneralRe: Poll: 3 Manager References? Pin
raddevus7-Dec-21 4:42
mvaraddevus7-Dec-21 4:42 
GeneralRe: Poll: 3 Manager References? Pin
PIEBALDconsult7-Dec-21 4:45
mvePIEBALDconsult7-Dec-21 4:45 
GeneralRe: Poll: 3 Manager References? Pin
Matt Bond8-Dec-21 6:02
Matt Bond8-Dec-21 6:02 

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Were you affected by the geomagnetic storms this past weekend?
Communication disruptions, electrified pipes, random unexplained blue-screens in Windows - the list of effects is terrifying.
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