1

i watched on youtube from 3Brown1Blue channel about "how bitcoin works", it said what makes bitcoin valued is come from the unique hash result of SHA256. for example if someone put string to an argumen function SHA256 like SHA256("Hello World!") and consider the result of hash 000006d40bf420404a011733cfb7b190d62c65bf0bcda32b57b277d9ad9f146e, there's 5 zeros at first which we can say unique result. Then that's result make bitcoin valuable.

Now what if I found another unique result hash of SHA256 with just SHA256 encryptor online manually? How to add it to blockchain so my identity is approved by blockchain watcher that I have it value and how do I get the reward from it?

2 Answers 2

7

Bitcoin does not reward you for finding just anything that hashes with enough zeroes at the front, it rewards you for finding blocks whose hash is less than the current target (which gives the appearance of requiring a number of leading zeroes).

A block is a data structure that contains Bitcoin transactions as well as a header with some additional information, such as the previous block's hash, a timestamp, nonce, version number, and the hash of all of the transactions in that block. This block header is what must have a hash less than the target. If you submit to the network something that is not a validly formatted block header, then, regardless of the hash, it will be rejected. Note that you don't just submit a hash, you submit the data that is hashed, along with the hash, so that nodes can independently verify the hash.

Lastly, miners are not rewarded by "blockchain watchers" nor are their identities known or approved. Miners are rewarded because they include a transaction in their blocks that pays themselves. This transaction must meet the rules for payouts, but the payment is up to the miners to claim by them making the transaction and including it in the block that they found. This transaction could pay to whomever the miner wants to, and it can pay to multiple people as well. It can also pay to nobody and instead burn the coins. The payment does not come from somebody else who verifies the miners' identities.

0

Yes you can find that manually if you want...

But:

What you will hash:

Version + Previous Block Hash + Merkle Root + Time + Bits + Nonce

If the hash of this is less than the current target, you can submit it, and what you will submit must be like this:

Version + Previous Block Hash + Merkle Root + Time + Bits + Nonce + Number of Transactions Inside This Block + Coinbase Transaction + All Other Transactions

Where to submit this:

To Bitcoin Client

2
  • What you mean with current target, and what is example of bitcoin client? Commented May 13, 2021 at 7:53
  • The digest of Sha256 is an hexadecimal number, and the bitcoin system will set a target (A number), if the digest of your header is less than the target, your block is valid. The bitcoin client, a full node bitcoin
    – Hamita
    Commented May 13, 2021 at 9:24

Your Answer

By clicking “Post Your Answer”, you agree to our terms of service and acknowledge you have read our privacy policy.

Not the answer you're looking for? Browse other questions tagged or ask your own question.