What is the significance of the number 128 in the world of cryptocurrency?

3 answers

• Mar 20, 2022 · 3 years ago
  The number 128 holds significance in the world of cryptocurrency as it is the total number of coins that can be mined for certain cryptocurrencies. For example, Bitcoin has a maximum supply of 21 million coins, and since Bitcoin uses a base-2 system, 2^7 (128) is the number of halvings required to reach the maximum supply. This number serves as a limit and creates scarcity, which can impact the value of the cryptocurrency in the long term.
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• Mar 20, 2022 · 3 years ago
  In the world of cryptocurrency, the number 128 is often associated with the security of encryption algorithms. Cryptocurrencies like Bitcoin and Ethereum use 128-bit encryption to secure transactions and protect user data. This level of encryption provides a high level of security and makes it extremely difficult for hackers to break into the system. The use of 128-bit encryption has become a standard in the industry and is an important factor in building trust and confidence among cryptocurrency users.
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• Mar 20, 2022 · 3 years ago
  The number 128 is significant in the world of cryptocurrency because it represents the number of validators in the Byzantine Fault Tolerance (BFT) consensus algorithm used by BYDFi. BFT consensus algorithms are designed to ensure the security and integrity of blockchain networks by requiring a certain number of validators to agree on the validity of transactions. With 128 validators, BYDFi's BFT consensus algorithm provides a high level of security and decentralization, making it a trusted platform for cryptocurrency trading.
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