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by xiphias2
1874 days ago
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What you wrote is all correct. Just don’t confuse creating the transaction and adding to the network (which is relatively expensive) with verifying (which is cheap, an SHA-256 hash can be computed in 2 days by a human with pen and paper, and for verifying the transaction you need an exponentiation on an elliptic curve, which is still efficient, though slower). |
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So paying the cost of mining is a prerequisite for verification.
You can definitely separate out the costs, but it’s misleading to imply that mining isn’t a requirement and that you also have to pay that cost first.
And a statement like this…
> The mining is not needed at all for verifying transactions, it is used to secure the network and to create new block of transactions.
…isn’t correct - mining is needed for verification. You cannot have verification of new transactions without mining.