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Title: Little help in ENGLISH needed Post by: Netpyder on April 18, 2015, 06:43:23 AM block halving rate : ?
block halving : ? Target spacing in minutes : ?? Target timespan in hours : ?? Coinbase maturity : ?? Genesis block : ?? Merkle hash with a verifiable timestamp : ?? Windows Qt binaries : ?? blockchain explorer : ?? Coin parameters : ?? premine : ?? nodes : ?? linux server with static IP : ?? CPU mining : ?? GPU mining : ?? i will request to please answer in simple english as much as possible. i understand some tech definitions but i would really need a great help understanding in simple english. Thanks for anyone who will answer Title: Re: Little help in ENGLISH needed Post by: Amph on April 18, 2015, 07:28:24 AM block halving rate : the speed at which the block reward halve(every 4 years) block halving : the diminution of the block reward(now is 25, will be 12.5) Target spacing in minutes : 10 minutes Target timespan in hours : every two weeks Coinbase maturity : 100 confirmations Genesis block : the first block that start the chain Merkle hash with a verifiable timestamp : i don't know Windows Qt binaries : just the qt exe blockchain explorer : it's the famous site, a decentralize public ledger, it also work as a wallet Coin parameters : diff retarget, block time, block amount, initial block reward premine : when a coin is mined before the launch nodes : ip address to speed up your initial sync linux server with static IP : well this should be obvious...just a server that run on linux with a ip that don't change over time CPU mining : mining that utilize processor GPU mining : mining that utilize graphic card i will request to please answer in simple english as much as possible. i understand some tech definitions but i would really need a great help understanding in simple english. Thanks for anyone who will answer Title: Re: Little help in ENGLISH needed Post by: Netpyder on April 18, 2015, 08:55:54 AM block halving rate : the speed at which the block reward halve(every 4 years) block halving : the diminution of the block reward(now is 25, will be 12.5) Target spacing in minutes : 10 minutes Target timespan in hours : every two weeks Coinbase maturity : 100 confirmations Genesis block : the first block that start the chain Merkle hash with a verifiable timestamp : i don't know Windows Qt binaries : just the qt exe blockchain explorer : it's the famous site, a decentralize public ledger, it also work as a wallet Coin parameters : diff retarget, block time, block amount, initial block reward premine : when a coin is mined before the launch nodes : ip address to speed up your initial sync linux server with static IP : well this should be obvious...just a server that run on linux with a ip that don't change over time CPU mining : mining that utilize processor GPU mining : mining that utilize graphic card i will request to please answer in simple english as much as possible. i understand some tech definitions but i would really need a great help understanding in simple english. Thanks for anyone who will answer mate you made my day!! thanks a lot. i still need one more thing 100 confirmations 100 confirmations for what? Title: Re: Little help in ENGLISH needed Post by: escrow.ms on April 18, 2015, 09:00:47 AM i still need one more thing 100 confirmations 100 confirmations for what? "Generated coins can't be spent until the transaction has 100+ confirmations", so 100 Confirmations are required to get mining reward from pool. http://bitcoin.stackexchange.com/questions/1991/what-is-the-block-maturation-time http://bitcoin.stackexchange.com/questions/22548/coinbase-maturity-of-100-transactions Title: Re: Little help in ENGLISH needed Post by: Netpyder on April 18, 2015, 09:30:54 AM i still need one more thing 100 confirmations 100 confirmations for what? "Generated coins can't be spent until the transaction has 100+ confirmations", so 100 Confirmations are required to get mining reward from pool. http://bitcoin.stackexchange.com/questions/1991/what-is-the-block-maturation-time http://bitcoin.stackexchange.com/questions/22548/coinbase-maturity-of-100-transactions alright. thanks everyone. if i have anymore questions or things i dont understand i will repost on this thread. but for now ive got all answers i needed to seriously start looking into btc and alts Title: Re: Little help in ENGLISH needed Post by: jonnybravo0311 on April 18, 2015, 05:13:07 PM Just a few small corrections to what Amph wrote.
Block halving rate: The more correct answer here is every 210,000 blocks. At a target of 10 minutes per block, this is 4 years. Target timespan in hours: Amph stated every 2 weeks. This is the target for difficulty adjustment. The more correct answer here is every 2016 blocks, the network difficulty is adjusted to normalize the 2016 blocks to 2 weeks. In other words, if 2016 blocks took less than 2 weeks, difficulty goes up. If they took longer than 2 weeks, difficulty goes down. Merkle hash with a timestamp: from the wiki: Quote Once the latest transaction of a coin is buried under enough blocks, fully spent transactions which preceded it can be discarded in order to save disk space. To facilitate this without breaking the block's hash, transactions are hashed in a Merkle tree, with only the root included in the block's hash. Old blocks can then be compacted by stubbing off branches of the tree. The interior hashes need not be stored. and Quote Upon receiving a new transaction a node must validate it: in particular, check if all transaction's inputs have not been spent yet. To carry out that check the node needs to access the blockchain. Any user, who don't want to trust his network neighbors, should keep a full local copy of the blockchain, because he can't know in advance, which inputs ought to be verified... A user only needs to keep a copy of the block headers of the longest proof-of-work chain, which are available by querying network nodes until it's apparent that the longest chain has been obtained. Then, get the Merkle branch linking the transaction to the block it is timestamped in. Hope this helps. block halving rate : the speed at which the block reward halve(every 4 years) block halving : the diminution of the block reward(now is 25, will be 12.5) Target spacing in minutes : 10 minutes Target timespan in hours : every two weeks Coinbase maturity : 100 confirmations Genesis block : the first block that start the chain Merkle hash with a verifiable timestamp : i don't know Windows Qt binaries : just the qt exe blockchain explorer : it's the famous site, a decentralize public ledger, it also work as a wallet Coin parameters : diff retarget, block time, block amount, initial block reward premine : when a coin is mined before the launch nodes : ip address to speed up your initial sync linux server with static IP : well this should be obvious...just a server that run on linux with a ip that don't change over time CPU mining : mining that utilize processor GPU mining : mining that utilize graphic card i will request to please answer in simple english as much as possible. i understand some tech definitions but i would really need a great help understanding in simple english. Thanks for anyone who will answer Title: Re: Little help in ENGLISH needed Post by: Netpyder on April 19, 2015, 11:47:10 PM few more questions :
what is a block : ? how do we get blocks : ?? suppose i want to launch my own coin, how do i provide blocks : ?? where do i get the block from to provide that to the pool : ??? the best algo for coin : ?? how do i make a pool : ?? thank you Title: Re: Little help in ENGLISH needed Post by: jonnybravo0311 on April 20, 2015, 12:14:10 AM few more questions : what is a block : ? how do we get blocks : ?? suppose i want to launch my own coin, how do i provide blocks : ?? where do i get the block from to provide that to the pool : ??? the best algo for coin : ?? how do i make a pool : ?? thank you A block is a collection of transactions that have been verified by a miner. For BTC you get blocks by mining. To create your own coin you write code. You can start with an existing coin and modify its source to your liking or you can devise your own brand new one. Once you've created your coin you need to create the genesis block. That block is the starting point onto which all other blocks are added. The best algorithm is very subjective. Bitcoin uses double SHA256. Litecoin uses scrypt. Dark (now Dash) uses X11. There are a lot of good choices for pools out there: MPOS, NOMP, etc. Or you could write your own like ck did. Title: Re: Little help in ENGLISH needed Post by: Netpyder on April 20, 2015, 12:20:03 AM can you please, if you dont mind get a little more in depth with blocks and genesis.
basically genesis is like the tip of the pyramid?? like everything will continue to expand from this first point, am i getting it right? how do i make a genesis block? the reason i am asking all these is, i feel that, the best way to learn how mining and everything about the crypto work, is by able to have my own coin. that way i would learn how to do my coin, compile, learn the linux and everything about it. i have time, i can spend lots of time understanding and digging in. i dont use linux and my knowledge on linux is euh.... lets not talk about it :D i think i will opt for the x11, but i dont want to make it work like btc, have to wait 1hour before all confirmations and stuff. it has to be instant. split seconds Title: Re: Little help in ENGLISH needed Post by: achow101_alt on April 20, 2015, 02:01:14 AM can you please, if you dont mind get a little more in depth with blocks and genesis. yes.basically genesis is like the tip of the pyramid?? like everything will continue to expand from this first point, am i getting it right? Quote how do i make a genesis block? I'm not sure how to make a genesis block for a new altcoin, but I do know that on a private Regtest Bitcoin network, the block is created by this command:Code: setgenerate true Quote the reason i am asking all these is, i feel that, the best way to learn how mining and everything about the crypto work, is by able to have my own coin. that way i would learn how to do my coin, compile, learn the linux and everything about it. i have time, i can spend lots of time understanding and digging in. i dont use linux and my knowledge on linux is euh.... lets not talk about it :D Confirmation times do not have anything to do with the algorithm. For instant confirmation times, you will need to change in the code the target time between blocks and the difficulty re-target time.i think i will opt for the x11, but i dont want to make it work like btc, have to wait 1hour before all confirmations and stuff. it has to be instant. split seconds |