Andreas explains how mining Bitcoin involves hashing, puzzle-solving, and a special number called the nonce.
0:00 What miners do to solve the mining puzzle?
0:16 The miners use a hashing algorithm called SHA 256 to produce a hash
1:02 The miners takes the block header from the candidate block
1:43 There’s a special number in there called the nonce
2:03 How difficult is it to solve the puzzle?
2:33 Summary: What is the miner doing?
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Perfectly explained thank you!
GOOD Video; Everyone Needs More Than Thier Basic Salary To Be Financially Secured, The Best Thing To do With Your Money Is To Invest, Money Left In Savings Always End Up Used With No Returns.
If only one person wins the prize when it solves the puzzle, how can anyone mine and still get some money? Wouldn't that go to only one person?
Doesn't that mean if you don't have enough compute power you may not earn ANY bitcoin at all to even pay for the work you are doing since you never solved the puzzle.
I have a qestion pls:
For indiviual miners who mine through the pools, are they (the indiviuals) literaly do the mining process? OR they just provide the hash power to the pool in which the pool it self accumulates the hash powers and do the prosses of mining ?
BTC heading to 20k, perhaps lower… GL everybody
Well explained 👏
The hero we don’t deserve, thank you good sir
Nice video I really appreciate you taking your time explaining very well.
hello , sir thanks for u expl but what about byzantine generals problem here in the hashing algo thx anyway
Miners do not SHA but double SHA to prevent length block extension flaw
thanks for explaining! is any of this done manually? or is it simply just a matter for plugging in and running the software?
Mr. A
How does a Trezor generate a random private key? In my experience as a programmer you would use a random number generator based on a seed but how does a Trezor do it?
Also, although highly unlikely, what happens if the private key generated is not unique so that the public key wallet contains someone elses btc?
Thks.
Thank you!