HomeGuidesAndreas M. AntonopoulosMining Bitcoin: Solving the Puzzle

Mining Bitcoin: Solving the Puzzle

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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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#Bitcoin #BitcoinEducation #BitcoinMining

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14 COMMENTS

  1. 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.

  2. 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.

  3. 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 ?

  4. 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.

Comments are closed.

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