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So that miners have an incentive to work with the system to get their money back, and it actually costs money to try and work against it.
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Because they have to change all the blocks after it, and those that continue to be added, catch up.
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Based on how many people are mining at one time. The more people harder difficulty, less people easier.
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Very well put 
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While you are correct about length of time, the target Nonce is lifted, or lowered based on how many miners are mining at one time, thus making mining more difficult
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1 so they play by the rules
2 because they would have the re mine the old block and all the new added blocks
3 with targets , target low = difficult , target high = easy
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Why is it important to make sure that miners spend money (on electricity) while mining?
Honesty is rewarded while dishonesty is not -
Why would it be very difficult for someone to go back change a previously added block?
Theyâd then have to change each block after that and catch up to the current block -
How does the network regulate mining difficulty?
more miners means a lower target making it harder to guess the nonce while less miners means lower difficulty
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1 To prove that they are making computations.
2 Because they will need to change all of the next blocks.
3 Low hash pass point==more difficult, and the vice versa.
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Because when the miners have to spend money to to receive income from the block they are incentivized to make sure they are accurate. Otherwise the money they have spent mining will be wasted.
If you change a previous block future blocks will be impossible to mine.
As more miners come online difficulty goes up. This incentivizes miners to increase speed and efficiency.
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They will lose money if they are dishonest, but if they follow the rules according, they will get incentives.
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Thatâs totally highly impossible because it will break the previous link and all blocks are encrypted .
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If there are many miners, the difficulty to guess the nonce is increasing by lowering the target.
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- Why is it important to make sure that miners spend money (on electricity) while mining?
- To make sure that they play by the rules, and if they try to abuse the rules, will lose the
money spent for electricity bills
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Why would it be very difficult for someone to go back change a previously added block?
- Because the hash of the pervious block will change, and heâll need to hash it again witch so
difficult, and in main time heâll need to catch up the new blocks added to the block chain.
- Because the hash of the pervious block will change, and heâll need to hash it again witch so
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How does the network regulate mining difficulty?
- The more miners there are the more the difficulty rate goes up to solve the cryptographic
puzzle.
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- It incentives miners to play by the rules.
- It would take longer to remine therefore it does not make sense.
- By decreasing and increasing the target.
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- Why is it important to make sure that miners spend money (on electricity) while mining?
Miners spend a lot of CPU Power = electricity in order to guess the hash (solve the puzzle) and get the block approved = reward. So they are incentivized to play by the rules and not getting punished (wasting money) on mining process
Because of the hashing/mining process in which itâs phisically impossible to get backward in time and remove/manipulate even a single transaction. You would have to re-guess all the hashes, spending again a lot of energy, so a non-sense.
Basically following this simple concept:
The higher the number of miners, the lower is the target, the higher the difficulty to guess the correct hash.
Following a rule present on the code of the the BTC blockchain itself, the hash to be guessed in order to get a new block, BELOW the target => so the lower the target, the lower the range in which the random number is.
Really amazing the visual demostration of the mining process, useful and really interesting
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Why is it important to make sure that miners spend money (on electricity) while mining? To solve cryptographic puzzle.
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Why would it be very difficult for someone to go back change a previously added block? Puzzles are based on previous verified blocks, which canât be broken. If they try to change it they would need to recreate the block and try to catch up to the other miners, which would take a lot of years.
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How does the network regulate mining difficulty? Consensus algorithm. Get paid to play by the rules. Math + Physics.
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1.It will make miners to play by the rules
2.There is a chain for every block, if one block changes other blocks will get invalid
3.Mining difficulty depends on total hash rate of the miners in the network
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- so they have incentive to make money, they are invested in it financially
- because that would alter all the blocks that come after that block and you would have to re-mine all of those which would take hundreds/thousands of yearsâŚ
- by the amount of people mining. the more people mining the more difficult the problem and vise versa
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- Why is it important to make sure that miners spend money (on electricity) while mining?
A. Spending money on electricity is an incentive to play by the rules to earn the block rewards and not waste money. - Why would it be very difficult for someone to go back change a previously added block?
A. It is virtually impossible the blockchain because of the cost and computing power required. - How does the network regulate mining difficulty?
A. The more miners competing the lower the target gets which increases the difficulty to solve the nonce.
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- Miners are incentivized to follow rules because they have invested in the mining procedures.
- You would pretty much have to change all the blocks.
3.Target number is made low when there are too many miners making guessing nonce difficult. If less miners are present, guessing Nonce will be made easier by making target value high.
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Why is it important to make sure that miners spend money (on electricity) while mining?
for them to be incentivised to be following the rules. If their blocks get rejected, theyâve spent all the electricity for nothing. -
Why would it be very difficult for someone to go back change a previously added block?
Because of the amount of work and time needed for this to be done. Itâs practically impossible - It would take too much time and energy.
Miner would need to change the block and all the block after this one. -
How does the network regulate mining difficulty?
By putting the target number up and down an with this increasing and lowering difficulty for miners to find hash which needs to fall bellow the target number for them to get the reward.
High hash rate means alot of miners competing so it needs to lower the target number. Miners are mining the hash number by putting in different noonce number and hoping the hash falls below the target.
- Why is it important to make sure that miners spend money (on electricity) while mining?
Because miners have to pay upfront and want to make their money back with a profit. Since they have to spend money, it incentivizes them to play by the rules and secure the network to receive rewards and make a profit. - Why would it be very difficult for someone to go back change a previously added block?
Because the network always chooses the longest blockchain. All Blocks after the changed one are invalid and have to be mined again. All other miners in the network are still working on that previous chain though. So youâd have to catch up to them and also be faster than them to make your chain longer. This would only be possible if you own more than 50% of the network. - How does the network regulate mining difficulty?
Based on the target. The target is lower when there is higher difficulty. This works because every hash output could be placed on a scale. The lower the target, the lower the possible valid results. So the miner has to make more guesses to actually output the right hash.
1 Miners spend money on electricity to power their mining rigs and to ensure that the network remains secure. By spending money on electricity, miners are incentivized to continue to mine and secure the network.
2 It would be very difficult for someone to go back and change a previously added block because each block is linked to the previous block through a cryptographic hash. This means that if someone were to change a block, they would also have to change all of the subsequent blocks in the chain, which would require a tremendous amount of computing power.
3 The network regulates mining difficulty by adjusting the difficulty target. This target is adjusted every 2016 blocks, or roughly every two weeks, to ensure that blocks are mined at a consistent rate. If blocks are mined too quickly, the difficulty target is increased, and if blocks are mined too slowly, the difficulty target is decreased.
- Why is it important to make sure that miners spend money (on electricity) while mining?
It must be made difficult to create a scarcity. It gives value and uniqueness to the blockchain
- Why would it be very difficult for someone to go back change a previously added block?
They would have to create the same hash that the block they are trying to replace did.
3. How does the network regulate mining difficulty?
By increasing or decreasing the range of acceptable hashed values as the solution to the hash.
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