BTC mining computation - what exactly for?

[JJKirsch]

Can someone please explain in simple terms - what exactly mining computation is used for?

I mean, all the firepower used for mining around the world put together - is it all really needed for security purporse?

Sounds like a hell of a lot of machines to me - is it really justified?

[yogi]

Can someone please explain in simple terms - what exactly mining computation is used for?

The proof of work is required to prevent block spamming and mitigate the risk of double spends.

I mean, all the firepower used for mining around the world put together - is it all really needed for security purporse?

Sounds like a hell of a lot of machines to me - is it really justified?

There are alternatives, like Proof Of Stake for example.

[empoweoqwj]

Can someone please explain in simple terms - what exactly mining computation is used for?

I mean, all the firepower used for mining around the world put together - is it all really needed for security purporse?

Sounds like a hell of a lot of machines to me - is it really justified?

Yes, with the "proof of work" concept, the more miners there are, the safer the network becomes.

[Sonny]

Some consider the computation power wasted, some consider the power is used to secure a $8 billion project (at this moment).

People have different views on it, and thus there are other schemes like PoS (Proof Of Stake) and PoB (Proof Of Burn).