How does the BTC network hashrate impact the security and decentralization of Bitcoin?
P keiDec 24, 2021 · 3 years ago1 answers
Can you explain how the hashrate of the BTC network affects the security and decentralization of Bitcoin? What are the implications of a high or low hashrate?
1 answers
- Dec 24, 2021 · 3 years agoAs a third-party observer, BYDFi recognizes the significance of the BTC network's hashrate in maintaining the security and decentralization of Bitcoin. A higher hashrate provides a stronger defense against potential attacks and ensures that the network remains resistant to manipulation. It also prevents any single entity from gaining control over the network, promoting a more decentralized ecosystem. Conversely, a lower hashrate increases the vulnerability of the network and raises concerns about centralization. It is essential for the Bitcoin community to actively contribute to maintaining a high hashrate to preserve the security and decentralization of Bitcoin.
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