Something has been on my mind about blockchain today and I am hoping someone in this community can provide some answers. To be up front, I am still uncertain and foggy about how blockchain works. I think I get the big picture, but the details are fuzzy. But one thing in particular was puzzling me today.
When users are mining for cryptocurrencies such as bitcoin, they are using computer power to solve complex mathematical equations that result in coin being mined. Correct? But what are those mathematical equations really being used for? Who has access to them? Are they simply stored on the blockchain and are free source material that anyone can access? Or are there examples of how they are specifically being used?
Without sounding conspiratorial, it occurred to me this morning that one of the biggest users of complex mathematics are governments, particularly when it comes to weaponry and warfare. I just want to make sure we're not contributing to the bolstering of governmental capabilities in this kinds of areas when we are solving equations are that have previously proven too difficult to solve.
The mathematical equations aren't really like a list of math problems that are just being solved and stored. What is actually happening is what is called proof of work, the only reason for the math computation is because the time needed to solve the problem can be estimated and it proves that work was done. Proof of work is required so that people cannot just simply create coins, and it provides incentive for supporting the network. The mathematical equations being solved for bitcoin are just proof of work problems related to the next block being added to the blockchain.
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