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1
vote
2answers
28 views

How is the network hash rate calculated?

Miners work on finding blocks but don't sent anything until they find the block. Considering that, how can sites like bitcoincharts.com display a graph of the network hash rate?
2
votes
1answer
50 views

What is the hash-rate of the Bitcoin network that results in the maximum difficulty?

According to https://en.bitcoin.it/wiki/Target the target is a 256-bit number. As the total hash-rate of the Bitcoin network rises, this number decreases to increase the difficulty. How much hash-rate ...
3
votes
1answer
155 views

bitcoins can use different algorithm, how and implications

I read that if sha-256 was compromised at some point in the future, or for any other reason, bitcoin could switch to a different algorithm can someone detail how exactly that would work, and what the ...
6
votes
1answer
98 views

When a transaction is broadcast to the network, what is actually being sent?

When a transaction is broadcasted to the network, what is being sent? Is it a hash? if yes, is it going to be the hash of: previous transaction + public key of the receiver?
0
votes
1answer
64 views

What is “Script Hash” address exactly and how does it work?

I found out this address playing with blockchain https://blockchain.info/address/3NukJ6fYZJ5Kk8bPjycAnruZkE5Q7UW7i8 I found out it's something called "scripthash". How does it work exactly? How does ...
2
votes
2answers
134 views

Why does Bitcoin use two hash functions (SHA-256 and RIPEMD-160) to create an address?

Why do we use 2 hash functions (both SHA and RIPEMD) to create an address? Why not just use one hash function?
0
votes
1answer
62 views

How to use block and transaction hashes for generating simple stochastic chances?

Many online Bitcoin gambling websites use the block chain info to prove fairness. Most of them use rather complex algorithms for this with pre-published secrets. What most of them basically achieve: ...
2
votes
2answers
126 views

Possible to create a double spend attack by replacing a Tx in the merkle tree?

This question on crypto.SE describes how preimage attacks are avoided in the Bitcoin network. For a second preimage attack: hash(x) = hash(y) implies hash(hash(x)) = hash(hash(y)) So it ...
3
votes
1answer
146 views

Why are hashes in the bitcoin protocol typically computed twice (double computed)?

According to the wiki specification of the bitcoin protocol, hashes are typically "computed twice". For example: hello 2cf24dba5fb0a30e26e83b2ac5b9e29e1b161e5c1fa7425e73043362938b9824 (first round of ...
3
votes
1answer
147 views

What would happen if two public keys had the same Base58 hash?

If two different public keys had the same Base 58 hash, what would happen? Could one key spend money in the other account? What would happen to the monies received by the shared base58 hash?
4
votes
1answer
690 views

Relationship between Hash-Rate and Difficulty

What is the algebraic relationship between Total Network Hash-Rate and Difficulty?
-2
votes
1answer
316 views

What computations does Btcoin perform during mining? [duplicate]

Possible Duplicate: What exactly is Mining? What are the exact computations dies Bitcoin is performing during the mining? I understood that it has to do something with hashes and ...
3
votes
3answers
298 views

how can I insert an arbitrary sha256 hash into the blockchain?

If I want to prove that I wrote a particular document before a certain point in time, it would be sufficient to generate the sha256 hash of the document and somehow arrange for that hash to appear in ...
7
votes
6answers
649 views

Can more than 1 block be solved per 10 mins on average (LONG TERM)?

I am wondering whether it is possible for a supercomputer to find the next 1000 blocks in a very short amount of time. Hypothetically, if a government agency concentrated a supercomputer on hashing, ...
2
votes
3answers
191 views

Where can I see an input that will hash to a solution?

So as my understanding goes, there's some input (block header) that needs to be altered (via a nonce or other mechanism) which is run through a SHA256 to generate an output with X amount of leading ...