proof of labor – Why the mining course of is important?
I perceive that the primary function of the mining course of is to keep up the community and shield it from fraud.
Nevertheless, each transaction is signed by the sender’s personal key, after which it is verified by the community (the opposite nodes) utilizing the sender’s public key.
Is not that sufficient to guard the community from fraud and cheats? Even when there may be spam with many invalid transactions, the verification is a light-weight operation, and they are often instantly detected and rejected.