What was the logic behind taking 10 mins to mine a block? Was it by design or accident?
Bitcoin mining was designed with the target of finding new blocks once every 10 minutes.
Anything that wants to be used as money needs at least sub minute, preferably sub second blocks. Unless it was intended for batch processing over night. Can't we just make it quicker and reduce the rewards appropriately?
Bitcoin is an alternative currency and there's a protocol that makes the transaction quicker and if thats what you want, you can make use of lightning.