The image you've linked to shows a pickaxe and the words "Proof Of Work," which is a nod to the mining process in Bitcoin. Mining here doesn't mean swinging a real pickaxe, but solving complex mathematical problems with computers.
Plain language explanation:
Imagine Bitcoin as a game where players use computers instead of picks. The goal is to solve puzzles (mine blocks), and it shouldn't be too easy or too hard for everyone playing.
As more people play or as they get better tools (faster computers), the game adjusts by making these puzzles harder, so it stays fair. We aim for everybody together to solve one puzzle about every 10 minutes.
Every two weeks, the game checks how many puzzles were solved. If we solved them too fast because we had better tools or more people played, then it makes future puzzles tougher—this keeps our 10-minute target on track.
This self-adjusting mechanism ensures that new Bitcoin blocks are mined consistently and prevents any player from getting an unfair advantage just because they have faster gear.
So remember:
- The network looks at how long it took to mine recent blocks.
- It wants this time period close to two weeks.
- Difficulty goes up if mining was quick; down if slow.
It's like an automatic referee that ensures everyone plays by the same rules no matter how much things change over time.
#Bitcoin #Mining #DifficultyAdjustment #BlockchainSecurity
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