In a non-cryptocurrency implementation of Blockchain how to successfully mine a node

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So I am thinking of an idea using the blockchain technology, but before I start with it I need to know how much resources will my client(s) will need to mine a node, how much time, and what factors contribute to it.

I know that in the Cryptocurrency domain, difficulty is an important factor, but it will play no role in mine, so I was wondering if anyone could shed some light onto this.

Jul 13, 2018 in Blockchain by sabby
• 4,390 points

1 answer to this question.

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Difficulty is a property of the blockchain, not cryptocurrencies. You will not be able to write any blockchain applications without it.

In a traditional Proof-of-Work blockchain, you're basically speaking of three intrinsically related variables:

  • network size: total computational power of the entire network (every node)
  • difficulty: how "hard" the proof of work problem is to solve
  • block frequency: how many new blocks are found per unit of time

The way these are related are as follows: if the network size grows, but the difficulty does not, then naturally many more blocks will be found per unit of time. If the difficulty grows, and the network size stay constant, then the block frequency will decrease.

For Bitcoin, they are trying to maintain a constant block frequency, which is why the difficulty is adjusted according to the network size. But once again, this is a fundamental property of blockchains, so you will have to consider it regardless of your application.

answered Jul 13, 2018 by Perry
• 17,100 points

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