Banker, economist, and crypto analyst, Dr. Craig S. Wright gives his part of the words for the crypto grand kingpin, the bitcoin. He states that no platform can be and should be without any set of regulations and rules, and the crypto structures are no exception. Bitcoin, as large and lively a platform that it is, could not have stuck to the current stability if it weren’t for some sensible protocols and rules defining the entire structure, hindering any sort of implosion. Bitcoin has always been the decentralized star of the crypto business and it intends to stay that for the time to come. This is the direct reference that bitcoin supports structures regularity in the best way possible. BlockPublisher got the chance to extract the words out of this discourse from the man himself as following,
You join the bitcoin pool and just like you start playing a video game with defined rules, you must follow some for bitcoin. The honest player will stick to the rules as do the honest miners who instead of shovelling dirt over them, uphold them altogether.
The bitcoin platform has been designed in a way to ease the user expressing the real essence of democratic aura that circles around the entire concept of blockchain technology, the key feature of the crypto coins like the bitcoin. Mining is the method in the crypto world that coins newer coins for the users to use. The miners earn incentives in exchange for the digital power their systems provide to the entire system. Some coins are based over the system-power based incentives and some over other parameters.
The take out of the discourse is that the miners are the reliable entity of the crypto world, who must stay that way. But as Dr. Craig further describes, the bitcoin regulations and the stability factors cope up with the dishonest adversaries catering for the malady by bringing in the hash power. The dominant credential that qualifies the miners as trustworthy is the hash power, which along with other features piles up with the hardware power that the miner provides. This was summed up pretty well by Dr. Craig that there is a solid check for the honesty out of the miners to stick to the rules.
Dishonest miners use proof of social media and worm-like devs to alter the rules mid game. They are why hash power matters.
The miners sure can be the cause of major havoc being wrecked on to the crypto soil. The wrongdoer miners tend to set the rules as they like, orchestrating underhanded tactics to bend and twist the rules to their wills, the reason for the introduction of the hash power to begin with.