Hi, I'm new in this called bitcoin.
Bitcoin... I understand almost everything except one thing.
What is it calculated? Hashes? for what??
For example, Foding@home calculates protein folding ... SETI@home analyzes data from radio telescopes ... but... What the Bitcoin network resolve?? For what are the results used? to hack cellphones hashes??
or are just a complex mathematical problems made randomly that are created to have the machins occupied? and the result is for nothing more?
thanks
You could say that the calculations are pretty much done to keep the computers occupied. The results of this calculations cannot be used for anything useful.
Computers race to solve the next hash problem, to show that they have more computing power. As long as 50% or more of the computing power is in the good guys hands, then the bitcoin network is secure. If the bad guys take over, then they could double spend bitcoins or cause other issues.