Questions tagged [proof-of-work]

This tag should be used for questions regarding how Proof of Work works and Proof of Work algorithms. Proof of Work is a scheme where a 3rd party can verify that someone performed at least a certain amount of work to produce something. This is used in Bitcoin mining.

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3answers
727 views

Would Bitcoin still work without a target difficulty?

Suppose that Bitcoin nodes had no target difficulty at all, and instead just accepted the block with the largest PoW every 10 minutes. Ignoring the increased bandwidth (since nodes would be ...
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1answer
41 views

How to get unconfirmed transactions

I am trying to learn how mining is done in bitcoin , wrote a simple mining code in python that works fine on sample data set of raw json coming from https://btc.cryptoid.info/btc/block.dws?693649.htm, ...
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How often does the “little man” win [mining]

I have read that long term we expect that the percentage of blocks mined to be forever converging to the percentage of hashpower possessed by the miner. This means if a particular miner has 20% of the ...
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1answer
60 views

Potential fork from genesis block using enourmous computational power

51% attacks are commonly discussed where one entity could potentially mine blocks ahead of the network. The assumption is that the attacker manages to acquire 51% of computational power. However, ...
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2answers
90 views

Making the block reward dependent on the difficulty?

I am looking for papers which discuss, if making the block rewards dependent on the difficulty could be used to curb excessive PoW growth. Idea is that BTC price roughly drives difficulty and energy ...
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2answers
107 views

Bitcoin: How does Proof of Work and single transactions align?

I'm reading papers since hours and still don't get one thing: A bitcoin transaction is an information like "Bob sends 2 BTC to Alice". This message is signed with Bobs private key and needs ...
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20 views

Are many nodes in the network trying to find a proof of work for the same block of transactions? [duplicate]

If two nodes in the bitcoin network receive the same transactions and now both are trying to find a proof of work of the current block, wouldn't this be inefficient? Because presumably both nodes are ...
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1answer
25 views

Appending txns to merkle tree on PoW efficiency, true hash rate

As I understand, when miners add transactions to their candidate block from their mempool, they append the txn to the merkle tree, which requires more hashing, as well as the hashing/maths involved ...
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1answer
62 views

1-CPU-1 Vote Bitcoin confusion

How does the 1-CPU-1 vote works because if we're talking about miners doing computation power to vote, then successful solver of the hash wins the block, so basically only the single cpu (considering ...
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2answers
57 views

Is a proof of work consensus mechanism that discourages mining in pools possible?

Most proof of work cryptocurrencies, including Bitcoin, have most of their hashrate controlled by the biggest mining pools which significantly decreases decentralization. Would it be theoretically ...
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0answers
25 views

Can Scrypt be reduced to SHA256 proof of work?

Interested because if a reducer exists then Bitcoin mining pools would be able to use a fraction of their hash power to assert dominance on altcoins by regularly deploying 51% attacks on the altcoins ...
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2answers
671 views

Could BTC be changed so that it limited the amount of computation power a given miner used?

I am assuming this would be hard or impossible to prevent miners from circumventing but would there be a way to change the algorithm to limit how many transactions a given mining installation could ...
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2answers
106 views

Decreasing Energy Consumption of Bitcoin's PoW with paired mining rounds

I found the following whitepaper on an algorithm called "Green-PoW" by the authors and i'm quite sure this would be a perfacet solution and also would get acceptance by the miners and the ...
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1answer
122 views

51% attack, miners, nodes or both

If 51% of the hashrate was controlled by bad actors mining invalid blocks, this would become the longest chain. Where do nodes come into the 51% attack? The canonical chain is the longest chain. Is ...
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1answer
59 views

How are txns sorted correctly in Merkle trees between nodes and validated via Proof of Work

I am interested in exactly what happens to transactions in the pending block (block that is being mined at the time). From what I understand, transactions are the stored as a Merkle tree hash inside ...
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19 views

Why the mining process is necessary? [duplicate]

I understand that the main purpose of the mining process is to maintain the network and protect it from fraud. However, every transaction is signed by the sender's private key, and then it's verified ...
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1answer
50 views

When should proof-of-work be done? Does it involve in mining a coin? Can it be done without real transactions to be recorded?

I am trying to understand about what bitcoin is. I conceptualize bitcoin as a proof of work required when a new block (or new coin) is created. I also understand that a proof of work involves finding ...
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1answer
25 views

How is “cumulative PoW” calculated to decide between competing chains?

Chain 1 has blocks with targets diff1, diff2, diff3, diff4 Chain 2 has blocks with targets DIFF1 DIFF2 DIFF3 What's the formula to derive the (relative) cumulative proof of works from these chains to ...
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9answers
2k views

How does a blockchain relying on PoW verify that a hash is computed using an algorithm and not made up by a human?

How does a blockchain verify that the hash provided (the one with the leading zeros that is supposed to be unique, computed using lots of processing power) is indeed unique and that it wasn't just a ...
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1answer
80 views

Why aren't public-private keys sufficient to build a block chain? Why do we need proof of work/stake?

Taking the simple case of Bitcoin here: If all nodes can validate published transactions by checking the signature (created using the private key of the sender) of the transaction against the public ...
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1answer
47 views

Confused about POW

I'm pretty new to crypto and I'm confused about POW POW Is usually explained like this... A group of transactions are bundled into a memory pool (mempool). Miners verify each transaction in the ...
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1answer
92 views

Proof of Work vs. Proof of History

Can someone explain the context of what Nakamoto exactly meant with: "To implement a distributed timestamp server on a peer-to-peer basis, we will need to use a proof- of-work system..."? I ...
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1answer
59 views

How to calculate economic security for bitcoin proof of work?

Is this the correct way to calculate security for bitcoin proof of work? https://twitter.com/drakefjustin/status/1356918733441294336 If a government or group of few rich people or organizations create ...
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3answers
700 views

Why is Bitcoin not moving to an ASIC-resistant Proof of Work algorithm?

Bitcoin uses a Proof of Work algorithm that makes it the perfect victim of ASIC mining. As a result, hash power is not very decentralized (more than 50% of Bitcoin's hash power is concentrated in ...
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2answers
115 views

Why can't a 51% attack change past blocks on the blockchain?

I have read that it is not possible to reverse transactions already added to the blockchain but I do not understand why that is not possible in a 51% attack. If an attacker was to change the ...
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In a closed, working test network, how would I generate a signed block that a Bitcoin miner would otherwise create?

I have a POC where the essential, critical, priority goal is to use C# and the .NET Core Framework (Bouncy Castle for crypto, or Microsoft primitives for BigInteger ) where I do the following Accept ...
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1answer
64 views

Are Bitcoin transaction fees competitive?

I was listening today to their conversation about the transcation fees in Bitcoin and Michael Sailor's understanding stroke me as inaccurate. Is there any direct incentive within the Bitcoin protocol ...
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1answer
40 views

How many numbers to try to solve the proof-of-work problem

I'm preparing for a lecture on blockchain, where I'm going to briefly explain the proof-of-work mechanism and the hashcash challenge. To illustrate the difficulty, I want to give the maximum amount of ...
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1answer
191 views

how and when does block and transaction validations take place?

I have a couple of questions and will try to explain them here. So, let's say we have 4 nodes in the whole network. one of the nodes (node A) took transactions from pool. before they put it into a ...
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20 views

How do bitcoin verifies block hash after new hash have been submitted by Miners? [duplicate]

I want to know how at the end of Bitcoin server block hashes are verified after it has been submitted by a miner. Do they already have a previously calculated block hash DB or something else? I m new ...
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1answer
213 views

How come some algorithms are better for GPU mining vs CPU mining? [closed]

How come some algorithms are better for GPU mining vs CPU mining? From what I know (that may be wrong) most Ethereum miners use GPUs? And bitcoin miners use CPU and ASIC mining? What are the different ...
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3answers
2k views

Beginner's question: Why must proof-of-work be useless?

I wonder why the proof-of-work under no circumstances may be usable. The argument I understand is: If the proof-of-work could be used, its results could be sold, and doing the proof-of-work would cost ...
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2answers
78 views

Do bitcoin miners calculate the hash value of current block or next block?

I'm new in bitcoin and my question seems be stupid. I appreciate your help. Miners calculates blockhash as picking a proper nonce. And he is awarded. To calculate block hash, he will need 6 values. 2 ...
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1answer
30 views

Is history reversal a concern if the absence of attackers is assumed?

As described in the Bitcoin paper, the Bitcoin network may temporarily diverge, or "fork," as nodes may work on different blockchains. The network reconverges, however, as a node will always ...
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1answer
193 views

Would this alternative to Proof of Work work? [closed]

I'm fairly new to the subject, but I've read enough to figure out that Proof of Work has a problem concerning mining pools, and other alternatives don't seem to convince me either. I thought of my own,...
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2answers
36 views

Could something like proof of work be provided in the form of human creativity voted on by other humans?

All that's necessary for a proof system in a blockchain, as far as I know, is that mining be hard to do and easy to validate. Creating works of art is hard to do, but determining their value is ...
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6answers
24k views

Why doesn't Bitcoin migrate to proof-of-stake?

After reading a little bit about different consensus algorithms, I am just trying to understand why Bitcoin still uses proof-of-work. This consensus algorithm being exponentially expensive, and ...
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1answer
57 views

How proof of work works in Blockchain?

Sorry, if the question may seem trivial but it is bothering me for a while now. I understood how the proof of concept works when one tries to change an old block. But how that will work for the case ...
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1answer
48 views

How a transaction is permanently accepted by the blockchain?

If a miner A creates a block containing a transaction A and a miner B creates a block NOT containing the transaction A about at the same time, then some of the other miners will first receive the ...
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3answers
178 views

What will a miner do when a high-fee transaction comes but he has constructed his block and is solving the puzzle?

As far as I have known, the mining process is as follows, step 1: collect a series of transactions and construct a block by filling required information like hash of the previous block and the ...
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2answers
333 views

Resources of a miner's reward in Bitcoin?

To compensate the miner who could solve the PoW as the first one, they will receive some bitcoins as a reward for keeping them motivated due to the costs related to mining process (electricity and ...
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2answers
71 views

Incentive for miners to keep mining once reward get very low [duplicate]

Currently each winning miner receive 12.5 bitcoin or 12.5*10 000 dollar per successfully mined block and the amount of bitcoin receive is divided by 2 approximately each 4 years. The incentive to ...
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0answers
38 views

security of the mining algorithms litecoin vs bitcoin - scrypt vs sha256?

how is the cryptanalysis' current state on both sha256 and litecoin's scrypt? is litecoin's scrypt on a security level like sha256? by security i simply mean ways to "break"/"de-cipher" the hash ...
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2answers
921 views

How much more energy efficient is PoS (proof of stake) than PoW (proof of work)? Are there any figures on this?

I've been trying to look for some evidence showing that PoS is more energy-efficient than PoW. In theory, it's true, but if there are any figures or stats you can share on this, I'd be very grateful. ...
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2answers
391 views

Who decides for Blockchain PoW puzzle?

In PoW algorithm a miner has to solve a mathematical puzzle whose difficulty depends upon load on network and total computing power. But who decides what would be that puzzle for each block? For ...
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2answers
73 views

Is it possible to have a modified Proof of Work that does not require as much energy to secure the blockchain?

As more ASICs hash away for acceptable difficulty, the difficulty keeps rising over time. Greater difficulty means to me that more electricity is used to secure the Bitcoin blockchain. Are there ...
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1answer
43 views

What is the algorithm that adjusts the difficulty of the proof of works in a proof of work based cryptocurrency? [duplicate]

For instance, Bitcoin has a proof of work based consensus algorithm, it's how Bitcoin chooses a node to create the next block in Bitcoin's blockchain. In this way the network is in consensus about the ...
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1answer
45 views

What would the effect of a very long bear market be on the Bitcoin economy?

I don't mean to be a doomsday prophet or spread FUD, but I need to know if Bitcoin (or any PoW coin) investors should be concerned about the following scenario: Assume Bitcoin goes in a very long ...
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0answers
94 views

Can we measure bitcoin's accumulated work in terms of entropy (in bits) directly rather than expected number of hashes?

The Background Bitcoin tracks chain work by counting the (expected) minimum number of hashes it would take to create a chain of the same number of blocks and same difficulty steps[1]. Naturally, ...
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1answer
62 views

Why does it make sense for mining pools to send empty blocks to miners in Stratum v1?

I am reading the recently released specs of Stratum v1 versus Stratum v2. One of the features is that "it is equally as efficient for pools to send full blocks for miners to begin working on as it is ...

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