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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13 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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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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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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54 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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33 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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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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46 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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22 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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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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77 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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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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66 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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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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59 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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56 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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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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98 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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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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166 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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Clarfication on “ network synchrounisation” in analyzing bitcoin protocol in a synchronous model

I am reading The Bitcoin Backbone Protocol:Analysis and Applications and i have no previous knowledge on different type of networks . And there is a term in paper " high network synchronicity &...
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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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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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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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172 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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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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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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55 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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46 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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173 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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327 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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66 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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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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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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1answer
250 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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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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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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38 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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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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54 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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445 views

Bitcoin mining process-the leading zeros before the hash-how is the mining puzzle solved exactly?

Can someone please explain: In Bitcoin proof of work, mining is done to create and validate new blocks. Who becomes the sole block producer is subject to winning a "mining puzzle". As I understand, ...
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42 views

what prevents a miner from adding a false transaction to a block and then adding it to the block chain in PoW? [duplicate]

Here is what I understand, the step to PoW are: step 1:Miner select some transactions from its mempool. step 2:Miner tries to create a block and then broadcasts it if successful. step 3:Other ...
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90 views

Bitcoin Orphan blocks - short question about the “time lag” factor and proof-of-work “size”

"However, it is possible that two miners produce a block at a similar time. This situation occurs because the acceptance of the blocks into the blockchain by the nodes of the blockchain network ...
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268 views

Can we construct a UTXO which is spendable only via proof of work?

Do the current Bitcoin opcodes and transaction size limit allow constructing a UTXO which is only spendable if a specified amount of work has been performed? So the spender, would provide a nonce as ...
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152 views

A Blockchain that merges mining forks and could be more power-efficient? [closed]

I'm new to blockchain technology so I'm sorry if I'm using wrong terminology. This is not a Bitcoin question, but a general blockchain question. Imagine a theoretical blockchain that uses gradual ...
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Could a malicious attacker subvert the Bitcoin network by failing to create a block?

I know its astronomically improbable, but say a malicious node "wins" the proof of work inherent to the Bitcoin protocol. If a malicious node simply waited indefinitely, or maliciously disconnected ...
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65 views

when a miner solves the problem in less than one timestamp then what does it do with its extra capacity?

If a miner solves the problem in less than one second then how does it use the extra capacity.
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57 views

Chain Race: How to know chain-length of competing chain?

If a fork happens, miners mine on the block they receive at first. Further, they only forward the block they received first (so the block they will use to mine)! So it can happen that 10% of the ...
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36 views

Beneficial proofs of work [duplicate]

I'm new to this community and a Bitcoin novice. I believe to have understood the concept and purpose of proof of work but also, that the high energy consumption of proofs of work is a major problem ...
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130 views

What would happen if miners refused halving

In may 2020 the supply of bitcoin per block is supposed to be reduced by half https://www.bitcoinblockhalf.com/ What if after this phase the first miner or more than 51% of them decide to keep the ...

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