Being a bit of a blockchain noob - I have a question. Why does the difficulty have to go up? Does it have a purpose, such as maintaining the integrity of the ever increasing chain? Or is it simply an artificial means to slow down the production of coins? Why not simply cap the # of coins introduced at a set rate, keep power consumption low, and let a lottery / luck based system figure out who "wins" that coin every ten minutes.
Just seems silly to consume so much if there isn't a reason.
Help me be less noob please
Just seems silly to consume so much if there isn't a reason.
Help me be less noob please