Ethereum: Initial Maximum goal set to 0x …
In May 2022, The Ethereum Network Reached A Hard Cap, setting a new maximum goal of $ 28 Billion. This Monumental Turning Point was Reached as Part of the Project Transition to the Evidence Consensus Algorithm (POS). In Order to Understand Why The Initial Goal, Set To This Specific Value, We Dive Into Details.
Why 0x …?
The Ethereum Foundation (EF), An Organization Behind Ethereum Blockchain and its Fundamental Technology, Said the Maximum Goal of $ 28 Billion was Determined by a Combination of Mathematical Calculations and Simulation. The Exact Method That is Used Remains Owned, But It is Believert to Have Included Solving the Problem of the Elliptical Curve of Discreet Logarite (ECDLP).
What is ECDLP?
ECDLP is a type of cryptographic Problem that hashes extensively studies in the field of theory of numbers. This includes Finding a discrete Logarithm Point on an elliptical curve, Given its coordinates and the basic point. This problem is consultant to be one of the most chasing mathematics.
Solving ECDLP
A Large Amount of Computer Power is required to resolve ECDLP. The Solution to this problem would be based on difficultures in Finding a Discreet Logarithm or a particular point on an elliptical curve. This Value is Known as the “Goal”.
Initial Goal Set on 0x …
In the case of ethereum’s hard caps, the goal is set to $ 28 Billion. This Number Repeatents The Maximum Amount That Can Be Mined by the Current Evidence Consensus Algorithm (POS).
Why not the maximum value?
There are Several Reasons Why A Maxim Value of One Billion has not leg Used Instead:
* Computer Force: The Goal is determined by Solving an Extremely Complex ECDLP Problem, which Requires Significant Computer Resources. Using Maximum Value Requires Much More Powerful Computers than Those Available Today.
* Energy Efficiency: Ethereum Consensus Algorithm for Consensus Consensus is Designed to Be Energy Efficient, But Still Consumes A Considerable Amount of Energy for Validation Tasks. The goal of $ 28 Billion is a significant reduction in Energy Consumption Compared to the Initial Goal Set on a Billion.
* Stability and Security: setting the goal too high would increase the likelihood or “Attack 51%”, where the attacher control more than half of the Network Validator, Allowing them to manipulate blockchain.
Conclusion
The maximum goal of $ 28 Billion for Ethereum is a significant turning point in the history of the project. IT is determined by a Combination of Mathematical Calcals and Simulation, Including Solving the Challenging Problem of ECDLP. AltheHOUGH THERE WERE Considerations Such as Computer Power, Energy Efficiency and Stability, The Initial Goal Set on 0x … He represented a REACH AT THAT TIME.