What encourages miners (all miners; no matter how a lot hash price they’ve) to incorporate actual time within the block and to not agree amongst themselves to incorporate a time resembling if it took them 10 minutes to create the block. I imply, it would not change the likelihood ratio of “discovering the right block and distributing the rewards” if all of the miners collectively fake they want 10 minutes (we simply decrease the mandatory threshold). In that case, the miners collectively would mine the block in 2/3/4 minutes or much less on common (I put a random quantity), and set the time within the timestamp as in the event that they wanted 10 minutes (after all, all of the miners must wait earlier than sending the block , with a view to adjust to the +2h rule). I can solely see good for them right here as a result of on this means all miners would profit drastically as they might spend a considerably smaller quantity of electrical energy to seek out one block.
So, what incentive do miners have to not lie concerning the time it takes them to mine a block and to reject such an settlement?
