Do you assume it may very well be attention-grabbing use a sooner different Hash perform for mining whereas proposing different type of problem mechanism ?
I want to lengthen the query not solely to bitcoin, however to a possible new cryptocurrrency.
What if we discovered a sooner hash perform than SHA-256 utilized by bitcoin in Mining, which properties are safe within the context of Proof of Work( Ex: Keccak).
It might enhance the pace of block’s validation within the community however the problem mechanism would compensate this situation enhancing the issue so we don’t get a bonus.
The proposition of a brand new problem mechanism that not solely relies upon instantly of hashrate(10 min creation of blocks) may very well be the answer to make use of a sooner hash perform and attain enhancements when it comes to velocity, power consumption.
Is it actually essential what Hash perform you employ? assuming safety of their properties. And what about when you might suggest an issue mechanism that will not increment essentially the issue associated to Hashrate
What do you assume? Do you have got any concepts how modify this problem mechanism?
