Can the blockchain be broken?
I’m not what I would call and expert in this field, but I have a growing interest in blockchain and cryptocurrency technologies.
I often wonder can the blockchain that underpins the operation of Bitcoin be broken and if so what would it take? I don’t have the answer to this, but here are my thoughts and questions on it.
If miners were to stop mining for whatever reason, would this be the end of Bitcoin and the underlying block chain? I might be naive when it comes to this technology, but my understanding is we will always need miners.
I guess so long as we have a fair reward for miners and its cost effective to mine, mining should continue.
Could we ever experience a miner’s strike, where mining stops to protest? The UK suffered from this many years ago with physical mining.
Food for thought I guess.
This post was produced with the intention of opening a debate on the subject to enable me and others to learn more.
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