You have to ask yourself: it’s always the same thing, maybe we should not store them on every network node? Of course, it would be more efficient. But, first of all, it would not be a P2P block chain, but rather traditional client-server architecture.
For a long time, bit coin users have been divided, between those who “suffer”, downloading anything and storing the entire block chain on their computer, and ordinary people, who use online wallets, trust the server and do not care how it all works.
Minors provide network security
Autonomous block chain and cloud-based business entities operating through a smart contract could then electronically sign a contract with compliance entities, such as governments, to register in all jurisdictions in which they are located. bonusbitcoin wanted to operate. “
You’ve probably heard about miners and big mining farms built next to power plants. What are they doing? They burn a lot of electricity for whatever reason for 10 minutes, “shaking” the blocks until they become “beautiful” and thus be eligible for a block chain (you’ll learn more in this article ). Essentially, it is done for one purpose: to ensure that rewriting the transaction history requires the same amount of time it took to write the original story (given the same overall computational power)
The electricity consumed to get there is the same as that of a city with a population of 100,000. And let’s not forget the expensive custom mining equipment, which is almost useless for any proposition other than mining bitcoins.