Post
Topic
Board Bitcoin Discussion
Re: Can the blockchain be frozen of miners stop validating transactions?
by
fryarminer
on 11/07/2015, 05:43:45 UTC
Reading all the news about Greece, thinking about how Bitcoin could be the alternative, got me thinking about whether the Bitcoin system could ever be frozen due to non-activity or a community consensus - could the blockchain be frozen?

If I understand correctly, miners validate transactions which then create the blockchain (or blockchain history, forgive me if I'm using the terminology incorrectly).

What if the miners decided to stop working? What if the community decided to stop validating transactions? Wouldn't that freeze the blockchain and thereby put a halt to bitcoin the currency?

If miners stop mining it would take forever for blocks to be mined by the hobby miners who would start mining.

But I got the impression you were asking what if the mining farms did not include transactions in the blocks they mine - that would be an interesting scenario.

We need to keep the blockchain decentralized as much as possible.