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Questions tagged [mining-theory]

This tag should be used for questions about the function, the reason for, and the underlying concepts of mining.

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Bitcoin is attacked by China miners by screwing with the network, what will Bitcoin do?

There was a report recently (https://arxiv.org/pdf/1810.02466.pdf) that stated that China controls 74% of the hashing power. They can choose to collude and attack the network by either doing a 51% ...
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What are some proposed solutions when Bitcoin block rewards drop below 1 BTC? [duplicate]

Many proponents state that Bitcoin will not work in the long term when block rewards drop below 1 BTC or even zero and have mining rely on just transaction fees. I never did the math calculations ...
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1answer
40 views

Where in the source code are transaction validation checks implemented?

I understand that consensus (mining) and transaction validation are different concepts. Correct me if I'm wrong, but I believe each full node validates transactions and puts the valid ones into its ...
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44 views

Estimated number of hashes

This is not a duplicate of previous, similar questions I've read on StackExchange, since none of those questions, nor the answers, go into the difficulty theory, as espoused on the Bitcoin Wiki. ...
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21 views

Energy to confirm one block with state-of-the-art hardware at current difficulty level [duplicate]

An earlier answer claims it would burn around $2M worth of electricity to confirm one block using an ordinary CPU. See: Energy to confirm one block? Can anyone estimate what this figure would be for ...
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16 views

How much electricity would state-of-the-art hardware burn to solve current proof of work problem for one block? [duplicate]

I am wondering what would be the energy cost to create a fake blockchain that could fool a victim who had no access to any other information, except the current block difficulty level. Take the ...
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1answer
34 views

How nonce and diffuculty work?

I struggle to understand one concept behind mining. It would be really great if someone could clarify some things. This is an extract from blockgeeks: From a technical point of view, mining process ...
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1answer
27 views

Have all hashes of unlocked difficulty levels of cryptocurrencies been mined?

I'm wondering if all the hashes of a previously unlocked difficulty level of a cryptocurrency, such as 0000000000000000xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxx BTC , have been completely ...
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1answer
18 views

Using mining pools, how do miners switch what coin to mine so quickly?

Using mining pools, how do miners switch what coin to mine so quickly? Can someone explain? Also do miners store a copy of the blockchain locally?
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Function of Bitcoin Nodes vs. Bitcoin Miners [duplicate]

I have some questions about bitcoin full nodes vs bitcoin miners. Can someone explain the basic difference between the two? What's the difference between a full node and a node? Are there different ...
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2answers
26 views

Why is mining an important part of a digital coin? [duplicate]

I have been playing with the blockchain lately and studying how Bitcoin works. I was wondering though, what is the functional reason for the mining process? I understand that you get a reward for ...
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50 views

What is the reason to pay miners “monetary rewards” for mining process?

Is it correct to say that: In Bitcoin, it is crucial to incentivize miners by monetary reward, because mining process has significant monetary cost (energy/electricity cost). ? otherwise, mining ...
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3answers
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What is resource of mining rewards

How the coins must be paid miners for mining process is provided? One of resources may be transactions fee. Is there any other resources for proving reward of miners?
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1answer
31 views

Why are miners allowed to not announce their mined blocks to the network?

My question relates to a 51% Attack. As far as I understand, for this to work the miner must have a secret fork of the main blockchain, which he will later announce, whenever it becomes longer than ...
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1answer
47 views

How are nonces decided in mining?

I know that when I create a new block in a Bitcoin network, I change the nonce value to generate a block. The question is, do you randomly assign the values you assign to nonces? Or do you start with ...
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1answer
28 views

When does a node start mining the next block?

Will a particular node on the Bitcoin network begin mining the next block after it has successfully been mined? Mine right away. When the node with the best computation power among the nodes ...
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Farming with CPU in my Lan

I have recently built an internet network for my entire condominium to use for a very cheap price, and i thought, why not farm bitcoins with it using users CPU? I heard about coffee miners, but i ...
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1answer
24 views

Smaller transactions are easier to validate; larger transactions take more work in Bitcoin

I am working on Bitcoin and trying to understand how transaction fee is calculated. Bitcoin support site states that the reason for selection of small and large transaction by miner: Again due to ...
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2answers
34 views

how do miners verify transaction without identifying sender and receiver?

I mean in satoshi paper we read sender and receiver have limited anonymity. By keeping public keys anonymous. The public can see that someone is sending an amount to someone else, but without ...
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1answer
54 views

How is the target in Bitcoin set? Who does this?

I want to understand how the target value is adjusted or by whom in Bitcoin. I know that the hash of a block + nonce must be lower or equal to the given target for mining. Who sets this target ? If ...
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1answer
55 views

Mining Theory: What would happen if a block hash collision occured? [duplicate]

To my knowledge, neither SHA256 or scrypt have ever had provable instances of hash collisions occur.. However, if this highly unlikely event was to happen, what would that mean for the state of the ...
0
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1answer
29 views

why block minning not interrupted when block found?

I am working with bitcion version < ver. 0.13.0 which contains the setgenerate true functionallity. I could see in some situations during minning process that when I find a solution, but the other ...
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1answer
32 views

Who set the rules for validating a block in blockchain?

Who set the rules for validating a block in blockchain? The rules can be set the creator of the blockchain network. There might be some rules on the application that uses the blockchain network. Is ...
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1answer
34 views

How are blocks accepted in bitcoin?

These are steps to run the network quoted from the Bitcoin white paper (https://bitcoin.org/bitcoin.pdf): New transactions are broadcast to all nodes. Each node collects new transactions into a ...
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2answers
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Does a Block contain the list of transactions? Or only the Merkle Tree?

I was wondering how a block encodes its set of transactions. I know a Merkle Tree is generated, and that it encodes a Hashed version of the transactions. But is the Merkle Tree included in the Block ...
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1answer
203 views

Why aren't block hashes used directly as scores for difficulty purposes?

Why does Bitcoin apply a difficulty function to block hashes and then use the output of this function to add up and determine the "longest" chain? Why not just e.g. add together all block hashes (as ...
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1answer
25 views

terminology and conceptual question about progress of PoW

what is wrong about thinking prbobability of attacker increases with time t that goes into PoW since they have more time to secretly mine their alternate blockchain ? This refer to double ...
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1answer
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double spending , you can create money out of thinner air [duplicate]

I am a little confused about how doublespending is done. The basic case is basically creating transactions to the seller and yourself and simultaneously broadcasting those. This is the very classic ...
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1answer
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What is a good resource to learn about bitcoin [closed]

I’ve got to this point reading various blogs, articles, other stackexchange threads and watching Youtube videos on the subject and still have a ton of questions. I don’t expect the questions below to ...
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1answer
31 views

what distribution does the hashrate follow?

Where can i find historical data for the distribution ? How does it fluctuate ? It is not constant, correct ? Mr Nakamoto in his white paper assumed it was constant ?
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1answer
15 views

how is the current hashing power (of the entire network) measured (in real time)?

1) does hash power refers to mining nodes only ? 2) we don't know how many nodes there are on the bitcoin network , correct ? how do we count them ? 3) would we need to know [2] in order to figure ...
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1answer
32 views

what does it mean to have >51% hashing power for mining a block? [duplicate]

Can someone please shine some light on this and how it links to the analogy between honest node and attacker ? also can attacker start mining 2 blocks ahead ? or 3 or 4 blocks ahead ? In the white ...
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1answer
27 views

What is the exact input for the hash function?

I've read that it's some variation of: version, previous block hash, merkle root, time, bits, and nonce, but I'm not certain on where to get this data and how it should be formatted. I'd like to know ...
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Last mined Bitcoin - life of a miner after D-Day [duplicate]

So we all (more less) know how blockchain work. We all know it's up to miners to continue mining and solving equations in order to discover new blocks... We know that miners confirm transactions, we ...
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1answer
43 views

Mining Theory: A theoretical mining based attack

Okay, so, here is my scenario: Imagine a group of miners who are mining a coin are responsible for a large portion of the hash rate on the network (let's say not quite 50%). Looking at the parameters ...
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1answer
43 views

Transaction vaildation

I have understood that miners validate the transactions by checking for double spends and that the transaction was not already confirmed, what I don't understand is how the miners are able to do this ...
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3answers
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Why is the probability of finding a winning nonce exactly the same for a new header and a header where you've already tried 1 billion nonces?

I'm referring to this question: When do miners stop waiting for new transactions? More specifically, this statement from the top answer: "suppose you have a block header h1 on which you have ...
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1answer
39 views

Hardware-dependent block difficulty?

Is it possible to make block production difficulty not the same for every node, but automatically adjusting to the node's hardware speed? For example, node A and node B are both trying to solve for ...
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2answers
34 views

Could a large group of miners theoretically lower the network hashrate to manipulate difficulty?

I am relatively new to understanding the fundamentals of the Bitcoin network, so I am still trying to learn how the actions of miners can influence the direction of the blockchain. Back to my main ...
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34 views

Why this alternative method to mining will fail?

From what I understand, we need mining to validate the block, we need the proof of work to limit the number of miners can add a block, and we need the block interval to give time to the new block to ...
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2answers
65 views

how long does it take for an mining machine to exhaust 2^32 in minutes and what is the actual speed of mining machines?

Mining is usually about taking the double sha. most if not all mining machines such as bitminer's machines usually give some indications for example 1TH/sec per second. Do they count the double sha ...
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1answer
62 views

Why is it important that the hash algorithm is puzzle friendly?

I don't understand "PUZZLE FRIENDLY". Here the definition I read: A hash function h is puzzle friendly if for every possible N-bit output value y, if K is chosen from a distribution with high ...
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1answer
47 views

Why not to mine more efficient?

I'm a kinda newbie here. But this is what I completely can not understand. If every single miner have to 'arrange' transactions and then compute a SHA-256 function of a given memory chunk, and if ...
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2answers
98 views

Why we need mining?

I know is related to these: What is the rationale behind Bitcoin mining? Why do we need Proof of Work in bitcoin? But I don't fully understand those answers, and I think usually is much easier to ...
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1answer
36 views

who actually amasses or builds the blocks … and how do they get passed to miners?

The question is not about the block being included on the block chain, but who actually creates a block? Like what is the process here. Can someone walk me through this? I do know that blocks are ...
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1answer
33 views

nTime rolling is just an optimization for large/fast pools, correct?

Need to confirm my understanding of nTime rolling... It's used to give the miner more options to mine without needing to request more work from the pool, by incrementing the timestamp. However, given ...
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3answers
580 views

What are the units of “difficulty”?

In various places, e.g. here and here, there are plots of the "difficulty" of bitcoin mining over time. What exactly is the interpretation of these numbers - in what units are they measured? My first ...
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1answer
42 views

What exactly is selfish mining?

What is a selfish mining attack MonaCoin suffered from?
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135 views

What’s the difference between a validation by nodes and a verification by miners?

In Mastering Bitcoin, it says: The transaction is then broadcasted on the bitcoin network, where each network node (participant) validates and propagates the transaction until it reaches (...
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2answers
171 views

Possible error in the white paper Calculations section?

Section 11 presents calculations of the probability of double spending, P(z, q), given an attacker relative hash rate q and a block count z. P(z, q) can only be understood by knowing exactly what z ...