Crypto mining is the process of verifying and adding new transactions to a blockchain by solving complex mathematical problems through computational power. The process can vary depending on the type of cryptocurrency being mined,
Setting up hardware: The first step is to set up specialized hardware, such as ASICs (Application-Specific Integrated Circuits) or GPUs (Graphics Processing Units), that are designed to perform the complex calculations required for mining. These devices are connected to a computer or mining rig and require a significant amount of electricity to operate.
Choosing a mining pool: Miners can choose to work individually or join a mining pool, where multiple miners combine their resources to increase their chances of finding a block and share the rewards
Topic: What is mining's actual process? (Read 198 times)
All above me has already said the mining actual process but Im gonna share this so you can might understand how mining work
Its actually 8 Years Video but still fun to watch https://www.youtube.com/watch?v=y3dqhixzGVo Mining with paper and pencil
Its actually 8 Years Video but still fun to watch https://www.youtube.com/watch?v=y3dqhixzGVo Mining with paper and pencil
What is the actual mining process?
If you find a value by increasing only the nonce value, the maximum value of int is 4.2 billion.
It will be solved in 1 second by ASIC.(? right?) I know that 20 million ASICs (14TH/s Antminer S9 standard) are running around the world.
If you find everything in the nonce value, what do you change then? time value? Merkle Root?
Does it include worldwide trades from the last 10 minutes?
Then, even while doing the calculations for mining, several transactions per second continue to be created around the world.
Are these included? it isn't? Then, based on when will it cut?
How is the sha256 value found in the mining program? Do we have the source code of pool's mining program?
How many times per second does asic do this program, this value finding process?
Can I embed a separate, personally customized program inside asic?
I think that there are a lot of processing and also process that I will tell you such details. If you find a value by increasing only the nonce value, the maximum value of int is 4.2 billion.
It will be solved in 1 second by ASIC.(? right?) I know that 20 million ASICs (14TH/s Antminer S9 standard) are running around the world.
If you find everything in the nonce value, what do you change then? time value? Merkle Root?
Does it include worldwide trades from the last 10 minutes?
Then, even while doing the calculations for mining, several transactions per second continue to be created around the world.
Are these included? it isn't? Then, based on when will it cut?
How is the sha256 value found in the mining program? Do we have the source code of pool's mining program?
How many times per second does asic do this program, this value finding process?
Can I embed a separate, personally customized program inside asic?
In my knowledge, mining is a method of solving mathematics questions and in this regards a block is created and that's called digital mining and that is very different from others like Coal mining.
Thanks but this is too basic info and we already know, and does not satisfy my question, detailed description of what actually happens between so many miners worldwidely at source-code level.
Kano sent you a link providing all the answers
You should read this book : https://github.com/bitcoinbook/bitcoinbook/blob/develop/book.asciidoc
Thanks but this is too basic info and we already know, and does not satisfy my question, detailed description of what actually happens between so many miners worldwidely at source-code level.
You asked so many questions on one topic that each needed a separate topic and a separate long explanation.
For this question:
You can look at this quote I think you will find a good answer here:
You can read the full article here:
https://www.simplilearn.com/bitcoin-mining-explained-article
For this question:
Does it include worldwide trades from the last 10 minutes?
Then, even while doing the calculations for mining, several transactions per second continue to be created around the world.
Are these included? it isn't? Then, based on when will it cut?
Then, even while doing the calculations for mining, several transactions per second continue to be created around the world.
Are these included? it isn't? Then, based on when will it cut?
You can look at this quote I think you will find a good answer here:
Quote
The Block Header
The Merkle root, the identifier of a Merkle tree, is stored in the block header. The block header contains information about the block and includes the following components:
The version number of the bitcoin software
The hash of the previous block
The Merkle root (root hash)
Timestamp
Cryptographic nonce
The target
This is the information miners will use to solve the hash puzzle and add a block transaction.
Solving the Hash Puzzle
Miners must solve the hash puzzle by finding the hash below a given target through the difficulty requirement. The target, stored in the header, is expressed as a 67-digit number that will determine the mining difficulty based on the number of miners competing to solve a hash function. It is important to note that this difficulty adjusts after every 2016 blocks are created depending on how much time it took miners in the previous 2016 blocks to solve an equation. This also helps to maintain the rate at which transactions are appended in the blockchain at 10 minutes.
To solve the hash puzzle, miners will try to calculate the hash of a block by adding a nonce to the block header repeatedly until the hash value yielded is less than the target. Once a mining computer solves the puzzle, a new block is successfully created that is validated in the Bitcoin network after a consensus between the nodes has been reached. When a block is validated, the transactions bundled in it are verified and the block is added to the chain. As indicated above, this happens every 10 minutes.
As there will be many miners (systems) competing to solve the puzzle, the first miner to get the correct hash value earns a reward in Bitcoin. This process allows more Bitcoins in circulation.
The Merkle root, the identifier of a Merkle tree, is stored in the block header. The block header contains information about the block and includes the following components:
The version number of the bitcoin software
The hash of the previous block
The Merkle root (root hash)
Timestamp
Cryptographic nonce
The target
This is the information miners will use to solve the hash puzzle and add a block transaction.
Solving the Hash Puzzle
Miners must solve the hash puzzle by finding the hash below a given target through the difficulty requirement. The target, stored in the header, is expressed as a 67-digit number that will determine the mining difficulty based on the number of miners competing to solve a hash function. It is important to note that this difficulty adjusts after every 2016 blocks are created depending on how much time it took miners in the previous 2016 blocks to solve an equation. This also helps to maintain the rate at which transactions are appended in the blockchain at 10 minutes.
To solve the hash puzzle, miners will try to calculate the hash of a block by adding a nonce to the block header repeatedly until the hash value yielded is less than the target. Once a mining computer solves the puzzle, a new block is successfully created that is validated in the Bitcoin network after a consensus between the nodes has been reached. When a block is validated, the transactions bundled in it are verified and the block is added to the chain. As indicated above, this happens every 10 minutes.
As there will be many miners (systems) competing to solve the puzzle, the first miner to get the correct hash value earns a reward in Bitcoin. This process allows more Bitcoins in circulation.
You can read the full article here:
https://www.simplilearn.com/bitcoin-mining-explained-article
Can I embed a separate, personally customized program inside asic?
In the first place, inside an asic you cannot embed a separate, personally customized program. It is because if you really want to
use an Asic for other purpose, you supposed to design and manufacture a brand new asic anyway for that objective.
Quote
What is mining's actual process?
First, you should know what is bitcoin mining? the basic and simple explanation for this matter is that it is a process
of extracting finite Bitcoin through the bitcoin network. where generating new bitcoin by solving algorithmic puzzles.
Then can someone mine future's bitcoin? (take advantage of time while others compete within 10 minutes)
What does this mean? Everybody competes with each other to find the next block afaik. Do you mean can somebody skip the next block and mine the next 2nd/3rd block instead? How would that block be valid if the previous block is yet to be found though? You might be referring to orphan blocks too I guess[1]. CMIIW.Seeing you've forked Bitcoin on your previous posts, I think you're quite knowledgeable when it comes to mining software. Some of your questions, especially the software part can be answered easily if you check out the GitHub page imo.
[1] https://www.investopedia.com/terms/o/orphan-block-cryptocurrency.asp
Then can someone mine future's bitcoin?
What is the actual mining process?
If you find a value by increasing only the nonce value, the maximum value of int is 4.2 billion.
It will be solved in 1 second by ASIC.(? right?) I know that 20 million ASICs (14TH/s Antminer S9 standard) are running around the world.
If you find everything in the nonce value, what do you change then? time value? Merkle Root?
Does it include worldwide trades from the last 10 minutes?
Then, even while doing the calculations for mining, several transactions per second continue to be created around the world.
Are these included? it isn't? Then, based on when will it cut?
How is the sha256 value found in the mining program? Do we have the source code of pool's mining program?
How many times per second does asic do this program, this value finding process?
Can I embed a separate, personally customized program inside asic?
If you find a value by increasing only the nonce value, the maximum value of int is 4.2 billion.
It will be solved in 1 second by ASIC.(? right?) I know that 20 million ASICs (14TH/s Antminer S9 standard) are running around the world.
If you find everything in the nonce value, what do you change then? time value? Merkle Root?
Does it include worldwide trades from the last 10 minutes?
Then, even while doing the calculations for mining, several transactions per second continue to be created around the world.
Are these included? it isn't? Then, based on when will it cut?
How is the sha256 value found in the mining program? Do we have the source code of pool's mining program?
How many times per second does asic do this program, this value finding process?
Can I embed a separate, personally customized program inside asic?
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