Measure to control inflation doubles the difficulty Bitcoins Minear virtual currency
The ‘miners’ bitcoin now have to work doubly hard to ‘make money’, as it activated one of the mechanisms used to control the virtual currency inflation, which is designed to never exceed its total 21 million units outstanding.
This is because they already reached 10.5 million units in circulation, so now the network is reset and instead of a block generated by a ‘mining’ give 50 coins, each block now only give 25 Bitcoins.
Control the rate at which new coins is a measure to prevent never be a abundance or scarcity of it in circulation, since both possibilities can quickly change the value of each coin. Moreover, these are the measures envisaged by the creators of Bitcoin before the appearance of chips made by companies especially for virtual currency Minear.
Link: Halving Block Reward: A Guide (Bitcoin Magazine)Tags: bitcoin, coins, currency, Economy, virtual currency