What is an Epoch in Crypto?
An epoch is a period of time in the cryptocurrency industry that is used to measure the progress of a blockchain or distributed ledger technology (DLT) network. It is typically measured in blocks of time, such as 10 minutes or 30 minutes, and is used to track the progress of the network. During an epoch, transactions are validated, blocks are generated and the blockchain is updated.
How Does an Epoch Work?
In the crypto world, an epoch is a predetermined length of time in which the network is active and transactions are processed. During an epoch, new blocks are added to the blockchain, which are validated and propagated throughout the network. The length of an epoch varies depending on the blockchain or distributed ledger technology (DLT) in use.
At the end of an epoch, the network is paused and a new epoch begins. This pause allows the network to recalculate the current blockchain state and validate any new transactions. This process is known as consensus and is necessary to ensure the integrity and security of the network.
Why is an Epoch Important?
An epoch is an important part of the cryptocurrency industry as it helps to ensure the accuracy and security of the blockchain. By validating transactions and recalculating the blockchain state periodically, the network can remain secure and reliable. Additionally, an epoch helps to keep the blockchain up to date, as transactions can be processed quickly without having to wait for the entire blockchain to be updated.