.

ISSN 2063-5346
For urgent queries please contact : +918130348310

ANALYSIS OF MINING DIFFICULTIES AS A SECURITY ATTRIBUTE IN BLOCKCHAIN TECHNOLOGY

Main Article Content

Shruti Jain1, Dr. Kanak Saxena2, Sumeet Dhillon3
» doi: 10.48047/ecb/2023.12.si12.051

Abstract

Block-chain technology has the capability to revolutionize and enhance the global technological infrastructures connected to one another via Internet. The distributive nature of Block-chain technology makes it a suitable solution to improve the security challenges of device-to-device communication. Thus, it can create a database that is fully transparent and open to all, bringing transparency to all growing sectors. This achievement can be partially attributed to the secure reliability of Block-chain systems, which are largely dependent on the cryptographic advancements like hashing features and the digital signature. It also has concerns with the difficulty which controls the mining procedures and enables the devices to be updated as per the rising hashrates. This paper elaborates a comprehensive configuration and market analysis of Bitcoin's difficulty and its calculation to know how it reinforces the currency's security. Thus, it also proposes a system for emphasizing PoW and PoC Algorithm for enhancing Blockchains performance and efficiency.

Article Details