Linked Questions

5 votes
1 answer

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 ...
user7347188's user avatar
0 votes
1 answer

Bitcoin Mining Computational Power [duplicate]

1/ I do not understand why bitcoin mining is random when hashing is deterministic. reference : Can the mining pool with the most mining power always win? What value ...
Chrissy Und's user avatar
2 votes
1 answer

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 ...
George Tsichritzis's user avatar
1 vote
2 answers

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 ...
user64980's user avatar
-5 votes
1 answer

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 ...
user27847's user avatar
0 votes
1 answer

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

with respect to : pool seems to have the highest hashpower of 5648.00 PH/s[as per] .Then how is it that other pools are also able find the ...
hvaminion's user avatar
0 votes
0 answers

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 ...
seyah's user avatar
  • 1
206 votes
10 answers

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.
Phonics The Hedgehog's user avatar
38 votes
2 answers

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 ...
Andrew Burns's user avatar
9 votes
4 answers

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 ...
Andrew Vit's user avatar
3 votes
2 answers

Is it common for mining effort to be lost?

If many parties are mining to try to establish a block, and one succeeds, does that mean the efforts of the other miners (whose blocks have at least some common transactions) are lost; the time and ...
Jiminion's user avatar
  • 145
1 vote
1 answer

If a lot of miners start at nonce 0, how are there no ties?

I understand what happens with ties (in the long term, the longest chain wins), however, if a majority of miners start with a nonce of zero, does it just matter who has the fastest hardware, or is ...
Kladskull's user avatar
  • 123
1 vote
1 answer

Does each miner in a bitcoin mining pool have 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 rigs, while others have just a single CPU running 24 hours a ...
user61766's user avatar
  • 111
1 vote
2 answers

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 ...
user3134006's user avatar
1 vote
3 answers

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 ...
Jez's user avatar
  • 951

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