Sentences with phrase «controlled by the miners»

They're actually centrally controlled by the miners, who can basically rewrite history at will.

Not exact matches

Bitcoins are generated (or «mined») by the following process: Cryptographic puzzles are random - generated at a controlled rate by a computer program, then transmitted to a network of volunteer Bitcoin «miners.»

While bitcoin utilizes its vast community of miners to verify transactions and mine new Bitcoin, the Ripple network is mainly controlled by its startup.

The control of the difficulty adjustment is extremely important because bigger miners could artificially warp and influence the mining difficulty by switching their operations on and off to get greater gains.

Rio Tinto is set to invoke a clause that will allow the miner to walk away from contracts with a giant metal refinery in Ireland controlled by Russian billionaire Oleg Deripaska.

A reduction in the processing power expended by miners on the Bitcoin Network could increase the likelihood of a malicious actor or botnet obtaining control in excess of 50 percent of the processing power active on the Bitcoin Network or the Blockchain, permitting such actor or botnet to manipulate the source code of the Bitcoin Network in a manner that adversely affects an investment in the Shares or the ability of the Trust to operate.

At first, these will be governed by NPCs, but successful players (and presumably player organizations) will be able to take control of parts it, assuming duties as miners, traders, and managers in the great supply chain of the galaxy.

Being controlled by an algorithm and maintained by a decentralized community of miners, blockchain - based cryptocurrencies have created endless opportunities for the underbanked and unbanked.

For certain product updates to occur on Bitcoin, there should be an accord among Bitcoin Miners (by hash control) to actualize it.

Currently 90 % of blocks are mined by known «pools» or syndicates of miners, and if a few pools join together, they could effect changes and assert control over the network.

Thanks to the support of BTC.com, BTC.Top, ViaBTC, AntPool (all of which have direct or dubious connections to Bitmain), it can be argued that bitcoin cash became a centralized commercial product controlled by China's miners.

Isolated Witness, characterized by BIP 141, secures if no less than 95 percent of Bitcoin Miners (by hash control) flag bolster for the overhaul inside a two - week trouble period.

The new exchange, CoinfloorEX, will allow miners, hedge funds, traders and sophisticated investors to unlock the financial potential of bitcoin at scale, through specifically designed cryptocurrency contracts and operational controls, supported by institutional grade risk management and governance, Coinifloor announced in a press release.

Nodes and miners, blind to the identities behind alphanumeric addresses, can't be shamed by the Andrew Ross Sorkins of the world into trying to control human behavior.

The reason why the controlled switch to the 0.7 fork was even possible was that over 70 % of the Bitcoin network's hash power was controlled by a small number of mining pools and ASIC miners, and so the miners could all be individually contacted and convinced to immediately downgrade.

His goal is to make Bitcoin mineable by regular GPUs again instead of ASICs, giving control back to the non-corporate miners.

While Bitcoin Unlimited is supposed to hand control of the block size limit over to both users and (all) miners, low AD levels ensure that even the slightest majority of miners can always overrule local block size settings by simply mining a series of bigger blocks.

Where bitcoin, Ethereum, and similar are entirely decentralized, backed by thousands if not millions of global miners, meaning that nobody has any real control over the network, Ripple's nodes are handled by these financial institutions and Ripple Labs itself.

As less mining is controlled by the Chinese miners, there are less malicious actors who may try to control the network.

There are no centralized controls over the «currency», and they are generated by miners who are rewarded with new Dash when they «mine» a block of transactions, and not by a government or a bank.

Personally, these acts of pumping the coin and being controlled by a few large miners make me sceptical of Bitcoin Cash — it just feels like it's going against the ideology of cryptocurrencies.

Since Bitcoin is a decentralized system that is not controlled by any central authority, whether or not such an upgrade is deployed and adopted by the network is determined by several key decision - makers that must agree to the change: Bitcoin developers, economic Bitcoin nodes, bitcoin - holding users, and bitcoin miners.