I would like to create a blockchain network which will stay at the same level of complexity, is it possible?

+1 vote
Apr 4, 2018 in Blockchain by Johnathon
• 9,050 points
21 views

1 answer to this question.

Your answer

Your name to display (optional):
Privacy: Your email address will only be used for sending these notifications.
+1 vote
Best answer

You can very easily create a cryptocurrency having a fixed level of difficulty. But its uses would become very limited then. As in case of bitcoin, the difficulty level ensures that the token creation process and the confirmation process follows a predictable schedule of once every 10 minutes. If the level of complexity were to be fixed, then the block creation time would vary according to the number of miners in the network. This would have the following effects:

1. When new nodes join the network the currency creation and movement would become faster and faster leading to inflation.

2. The block confirmation time would become unpredictable. Since the currency would also slow down if miners leave the network.

So, realistically speaking, there is no upside of fixing a difficulty. The coins you'd be mining would become worthless because everybody else also gets a fixed amount for their investment. And on the other side the system would be hardly usable at all.

answered Apr 4, 2018 by Christine
• 15,790 points

selected Aug 6, 2018 by Omkar

Related Questions In Blockchain

+1 vote
3 answers

Is it possible to store data about arbitrary objects on the blockchain using smart contracts?

Consider following tutorial from Hyperledger Fabric "Getting Started" pages. Basically ...READ MORE

answered Aug 30, 2018 in Blockchain by Artem
66 views
+1 vote
1 answer

Is it possible to store blockchain in a sql or no-sql database?

Currently, following are the options to store ...READ MORE

answered Apr 20, 2018 in Blockchain by Perry
• 16,450 points

edited Aug 9, 2018 by Omkar 42 views
0 votes
1 answer

Why is it downloading the blocks when I am trying to deploy the ethereum private network?

Once you have installed the Ethereum wallet, ...READ MORE

answered May 3, 2018 in Blockchain by Shashank
• 10,330 points
13 views
0 votes
1 answer
0 votes
1 answer

Truffle tests not running after truffle init

This was a bug. They've fixed it. ...READ MORE

answered Sep 11, 2018 in Blockchain by Christine
• 15,790 points
66 views
0 votes
1 answer
0 votes
1 answer

In a Blockchain, how difficult is it to modify the third to last block?

Technically, it's not difficult at all, all ...READ MORE

answered Apr 20, 2018 in Blockchain by Christine
• 15,790 points
37 views
0 votes
1 answer

Is it possible to setup private ethereum network for creating applications??

yes, ethereum is an open source platform ...READ MORE

answered Apr 18, 2018 in Blockchain by Christine
• 15,790 points
20 views

© 2018 Brain4ce Education Solutions Pvt. Ltd. All rights Reserved.
"PMP®","PMI®", "PMI-ACP®" and "PMBOK®" are registered marks of the Project Management Institute, Inc. MongoDB®, Mongo and the leaf logo are the registered trademarks of MongoDB, Inc.