FuriousTheMonkeyBoy𓅦 on Nostr: The "complexity" of the bitcoin "proof of work" function refers to the amount of ...

The "complexity" of the bitcoin "proof of work" function refers to the amount of computational effort required to solve the problem and find a valid solution. In this case, the problem is to find a specific pattern in a large number of random numbers, called "nonces", such that the resulting hash of the nonce and other data meets certain criteria, called "difficulty". The difficulty is adjusted periodically to control the rate at which new blocks are added to the blockchain and is measured in the number of leading zeros in the hash.


The formula O(2^(log n) / n) is an approximation of the average number of nonces that need to be tried in order to find a solution that meets the current difficulty. It is based on the assumption that the distribution of nonces is uniform and independent, and that the hash function is collision-resistant and uniformly random.


The reason why this matters is that it determines the amount of computational power and energy that is needed to secure the network and validate transactions. The higher the difficulty, the more difficult and costly it is to mine new blocks and earn rewards. This also means that it becomes more difficult for a malicious actor to attack the network by creating multiple blocks at the same time, thereby making the network more secure.


I just hope I didn't confuse you.