Linked Questions

4
votes
1answer
6k views

Blockchain SHA256 hash and nonce [duplicate]

I have been reading the SHA256 hash creation with a random nonce. So, my understanding is every miner would pull uncommited transactions and would try to create a Hash of the transactions with a ...
0
votes
1answer
640 views

Bitcoin Mining Computational Power [duplicate]

1/ I do not understand why bitcoin mining is random when hashing is deterministic. reference : https://en.bitcoin.it/wiki/Nonce Can the mining pool with the most mining power always win? What value ...
2
votes
1answer
285 views

Can the mining pool with the most mining power always win? [duplicate]

Suppose we have three mining pools, one with 40% of computing power, and the other two having 30% of computing power each. Will the node with 40% power, be able to solve the puzzle for each node ...
1
vote
2answers
437 views

how bitcoin mining works [duplicate]

The way I understand mining is that you hash the previous block hash with the new transaction files and a variable to get certain amount of zero in the hash. So the stronger your hash power is the ...
-5
votes
1answer
227 views

Noob question about mining [duplicate]

I'm not interesting in mining myself, just interested in the topic. I understand that you can still get bitcoin by contributing computation power to a pool (a company) Does only one person/company ...
0
votes
1answer
52 views

If BTC.com has the highest hash rate, then why is it not the only pool prodcuing the blocks? [duplicate]

with respect to : https://blockchain.info/pools BTC.com pool seems to have the highest hashpower of 5648.00 PH/s[as per https://btc.com/] .Then how is it that other pools are also able find the ...
0
votes
0answers
24 views

What exactly determines how long it takes a given miner to mine 1 btc block? (not talking about hashrate) [duplicate]

So given the number of miners out there working on doing the same thing and that 1 block is mined every 10 minutes, it would appear at face value that only those with the highest hashrates would ever ...
196
votes
8answers
114k views

What exactly is Mining?

I have heard that mining is for people with ready hardware and blah blah blah... But what exactly is it? Does it operate like real mining? I mean, people talk about it like you are physically mining.
35
votes
2answers
13k views

What is the coinbase?

I searched the bitcoin wiki and found references to coinbase, but no clear cut explanation of what exactly it is. I know that miners can tag their coinbases (that is how some sites tell who mined a ...
9
votes
4answers
363 views

How cooperative or competitive is the mining process?

As each miner works out which nonces it has tried, does it notify the network so that energy isn't wasted on re-processing the same thing by each node? Or is it totally competitive with everyone for ...
1
vote
2answers
238 views

What's to stop someone from making a ton of mining nodes as an attack method?

My understanding is that if two miners make a block by completing a hash at the same time, it is then up to the miners to decide which is going to be 'accepted' by vote of which block reaches 51% of ...
0
votes
1answer
329 views

Does each miner in a bitcoin mining pool has a chance to win the block reward?

Suppose there is mining pool XYZ. 10 miners 1 through 10 are subscribed to it and miners have varying hash power, some have 10 GPU mining rig while others have just a single CPU running 24 hours a day ...
1
vote
3answers
89 views

How does a Bitcoin block get generated and 'agreed upon' by everyone?

When a set of new transactions is broadcast to all the Bitcoin mining pools, my understanding is that they all start working on a new block to include all those transactions. But how is it agreed ...
2
votes
2answers
168 views

Probability an honest node finds the next block vs. probability the attacker finds the next block

I am trying to understand Satoshi's paper [1]. On page 6 of the paper, he calculates the probability that someone can attack the blockchain from z blocks behind. He begins by defining: My question: ...
1
vote
1answer
74 views

How do miners decide when to give up on a block?

So in my understanding, miners bundle a list of transactions into a block and begin working on it until they can generate a valid proof of work. There are various reasons to group fewer or more ...