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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3
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1answer
427 views

ASIC resistant PoW mechanism that generates new hash functions. How does that work?

From Vitalik Buterin's post regarding "On Mining", he mentions: The second approach is somewhat different: create a mechanism for generating new hash functions, and make the space of functions ...
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4answers
868 views

Is it possible to make PoW ASIC-resistant through dynamically generated hash chains?

Bitcoin's static proof-of-work function SHA256(SHA256(data)) was apparently easy enough to be implement as ASIC which lead to the re-centralization we see today. But what if the PoW function changes ...
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2answers
2k views

How is it that concurrent miners do not subvert each other's work?

Every time a new block is added on top of block chain, the miners have to restart their work because the next block has to have a proper reference to previous block. Let's suppose that there is some ...
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2answers
153 views

Are there any stochastically dependent proof of work algorithms?

In bitcoin, the probability of discovering a block on the X-th hash is the same1 as it is on the Y-th hash. As such, the probability of discovery is stochastically independent. Are there proof of ...
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1answer
381 views

Is it possible to combine PoW with PoS by taking turns?

I have read about cryptocurrencies and am very excited by many. I have read that one of the worries and constant debates is Proof of Work vs Proof of State with respect to securing the validity of the ...
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2answers
81 views

Theoretical security of mining bitcoins

Is it possible to change rules of mining bitcoin division? rewrite P2P bitcoin client (or write maleware) which will be pretending that fake bitcoin client is legal, original client distribute ...
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1answer
193 views

Has anyone verified what your CPU is being used to do when it “mines” for bitcoins? [duplicate]

I understand that "mining" for bitcoins requires your computer to do work that you don't monitor, so my question is, how do you know what it is that your computer is doing? Has anyone verified what ...
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2answers
5k views

Who are you solving algorithms for and why?

I am sick to death of people responding to my question with logistics of "how to" mine data or just that you are solving "mathematical concepts" and "algorithms." What I do understand is this - some "...
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2answers
623 views

How does a mix between Proof of Work/Stake work? (Peercoin) [closed]

I think I understand Proof of Stake and Proof of Work from a conceptual point now. For themselves both are good ideas for sure, but how would a crypto currency like Peercoin (PPC) combine both of them?...
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2answers
362 views

What is the reason for using PoW in bitcoin?

As we know bitcoin uses Proof of Work Concept and it introduces never ending long block chain and some other issues. Why is it not designed in a way to use consensus algorithms what ripple uses? What ...
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3answers
1k views

Difference (if any) between proof-of-work in mining bitcoin vs verifying transaction

I'm trying to understand the proof-of-work idea for verifying a transaction. I think I understand why proof of work is needed to verify transactions (essentially to prevent spoofing/double spending ...
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1answer
810 views

Confirmation limit

When seeing transactions I see that the number of confirmations keeps increasing without any limit. I wanted to know if there is any time limit on including a already confirmed transaction in a block ...
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1answer
64 views

Proof of work - does the equipment matter?

It technically doesn’t matter whether I am using a super computer or a laptop to do the proof of work, it’s simply that with a super computer I can go through the attempts much faster, which means I ...
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2answers
3k views

Probablity Distribution of mining

What is the probability distribution of solving a block, given the same difficulty. So if I try to mine multiple times using the same difficulty, is it normal distribution with mean of 10 minutes? ...
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1answer
207 views

Why do some mining algorithms run “cooler” than others?

So, there are some altcoin mining algorithms now that run cool, such as X11 and groestl. By cool, I mean even when mining at full GPU capacity, the card still remains at 60C or cooler with little to ...
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1answer
173 views

Bitcoin related research areas [closed]

I have a one year research project in my MSc curriculum. So i was suppose to address a existing issue in bitcoin protocol. Highly appreciate if someone can advise me and give me some ideas. Thank you....
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1answer
512 views

What is proofOfWorkLimit?

Look at the code below from android bitcoin wallet: proofOfWorkLimit = Utils.decodeCompactBits(0x1d00ffffL); And look at the code from bitcoin qt wallet: static CBigNum bnProofOfWorkLimit(~uint256(...
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2answers
294 views

What is the variable in a block that holds hash of found PoW?

Can anyone please tell me, which variable holds the hash of the solution of block's PoW in broadcasted block? I know that a block consists of (I am pretty sure I am forgetting some variables here): ...
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3answers
509 views

Can the Bitcoin blockchain eliminate the need for Trusted Computing in Smart Contracts?

Let me preface this by saying that I'm a novice, but this is my rough understanding of how Bitcoin's blockchain works. (This is largely based on blog posts like this one.) If person A wants to ...
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2answers
3k views

What is Proof of Burn?

Can someone explain me: What is Proof of Burn What is the difference between Proof of Burn and Proof of Work How Proof of burn works Which virtual currency uses Proof of burn technology instead of ...
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2answers
965 views

How can we be sure that a new block will be found?

How do we know the HASH function will produce an output that fulfills the difficulty, i.e. is below 0000...xxxx...xxx? Is it possible that no proof will be found so that the HASH will produce that ...
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2answers
2k views

Bitcoin without mining

Several months ago I've stumbled an interesting question about the Ripple system: How does Ripple solve the double-spend problem? Specifically about how double-spending is solved in Ripple. As you ...
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4answers
7k views

Why can't we design a bitcoin that does useful work? [duplicate]

The bitcoin network, including every miner, is the biggest computing project that humanity has created. Thus I ask: why, instead of using it to generate useless data, don't we use it to generate ...
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2answers
3k views

How transactions get added to a ledger?

I just can't seem to understand how bitcoin works. Here is what I understand so far. Alice sends 1 Bitcoin to bob's public address A new transaction gets created for miners to approve. A transaction ...
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2answers
39k views

How does proof-of-stake “mining” work?

I know and understand the concept of proof-of-stake. Instead of requiring users to do a certain amount of power-intensive hashing "work", it requires you to own a certain stake of the currency in ...
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4answers
356 views

What is the useful work done during the mining of Bitcoin? [duplicate]

What is the work that the computer performs while it does Bitcoin mining? Is it useful work in any case?
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2answers
618 views

Could an algorithm be made ASIC-resistant by simply adding deterministic permutations depending on the hash of the previous block and the nonce?

I was thinking of permuting bits in a block before it is hashed, in order to require some adaptability from the mining hardware while retaining the security of SHA-256. Permutations would depend on ...
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2answers
339 views

What happens to a miner's work when they restart?

I am studying the bitcoin internals and especially the proof-of-work. The proof-of-work is based on the mathematical problem that we have to compute from an input that produces a hash with a certain ...
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1answer
316 views

Question solved by bitcoin miners [duplicate]

What computational questions are solved by bitcoin miners and what is the computational complexity of one instance of this question. Essentially, how would someone program an application for bitcoin ...
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3answers
1k views

What is the problem that mining solves?

Of course, the function of mining is to secure the blockchain, but I'm looking for a more abstract summary of what the exact problem is that mining tries to solve? I believe its called the Byzantine ...
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4answers
72k views

The bitcoin mining algorithm from a programmer's viewpoint

This page: Blocks said mining is actually to solve a mathematical problem, but reading Block hashing algorithm doesn't give much help. I also tried reading bitcoind source code, but reading code takes ...
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2answers
2k views

What happens to extinct blockchains, and transactions inside of them?

While understanding the concept of block chain and proof of work, few things are confusing me. Miners always consider the longest chain(by difficulty) and work on expanding it. Now, lets say two ...
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2answers
1k views

Intrinsically useful proof-of-work using Mersenne or Fermat numbers factorization. Could it be possible? [closed]

I was reading this question and got myself thinking - why can't a crypto-currency use as proof-of-work a difficult problem that has value outside of the network? I understand the effort to produce all ...
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2answers
4k views

What is the difference in hashing algorithm between bitcoin and litecoin?

I am having trouble finding litecoin mining specifications. I would first of all require something like this: https://en.bitcoin.it/wiki/Block_hashing_algorithm Except for litecoins. I need to know ...
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2answers
5k views

What are the pros and cons of Ripple's consensus as compared with Bitcoin's proof-of-work?

One of the major differences between Bitcoin and Ripple is how they process transactions. I can think of three ways in which Ripple's "consensus" scheme is superior to Bitcoin's proof-of-work: Less ...
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1answer
4k views

Work rejected. Server says: Stale or alien proof of work

I get this error using BitMinter Client v1.3.2: Work rejected. Server says: Stale or alien proof of work about every 15 - 45 minutes, just mining on my GPU. What is happening? What does it mean to ...
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2answers
733 views

Is it possible for the network to stop finding valid blocks?

The hashing problem is by design computationally hard, because SHA-256 hashes are for all intents and purposes random strings with no direct link to their inputs, and there's no (known) way to ...
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2answers
3k views

Will the proof-of-work system end when all bitcoins have been mined?

This article from ArsTechnica is claiming that Bitcoin is not such an environmental disaster, and one of the reasons they mention is that mining will come to an end. Ok, fair enough, there is an end ...
28
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1answer
11k views

What is proof-of-stake?

As we know one of the important mechanisms of Bitcoin is proof-of-work. How does the concept of proof-of-stake work? How does it differ from proof-of-work?
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2answers
11k views

What is proof-of-work?

Please explain the proof-of-work concept. And how does it relate to Bitcoin mining in general, and to the proofs of work (aka shares) of mining pools?
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3answers
4k views

Are there alternatives for proof of work?

Bitcoin uses proof of work to secure the network, Ripple uses a global consensus system and PPCoin uses proof of stake. Are there any known alternatives to the above methods?
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4answers
229k views

What are bitcoin miners really solving?

As with mining, what are the bitcoin miners really solving? I read they are solving hashes, but what does that really mean. Can we see what they are solving? Can someone give an example of what a ...
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4answers
889 views

Is mining the unfair part of bitcoin in the same way banks (or rather, fractionary reserve systems) are to current monetary system?

I've been reading a lot about bitcoin lately and I'm very interested. Especially, when it comes to making a currency that is way more fair, because it avoids a centralized control of it. However, in ...
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1answer
3k views

Can Artificial Intelligence be used to mine BitCoins faster?

Can Artificial Intelligence be used to find more efficient mining algorithms? Is there only one algorithm that can be used to mine? EDIT: Asking about running the SHA(SHA(block header)) more ...
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2answers
10k views

Bitcoin alternative designed for NVIDIA

Currently the best graphics cards to mine Bitcoins are all AMDs. What should be changed in the Bitcoin protocol to make the alternative version of Bitcoins better mined by NVIDIA graphics cards? Could ...
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5answers
6k views

What features of scrypt() make Tenebrix GPU-resistant?

There's a fork of Bitcoin called Tenebrix that is claiming to be CPU-friendly and GPU-resistant (with regard to mining). They say that this is because they're using scrypt instead of SHA256. From what ...
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4answers
353 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 ...
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12answers
9k views

Is there a way to set up proof-of-work systems so they would be even more useful?

One of the arguments made against Bitcoin's design choices is that it wastes resources authenticating transactions. In particular, finding small hashes is completely useless for the world. Are there ...
177
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8answers
108k 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.