alright yeah things are clearer now haha thanks.

isnt the difficulty 7,019,199,231,177.173 right now? not 6,727,225,469,722 


And I thought max value of a 32 bit can be 2,147,483,647 where did the 4,294,967,295 come from?

achow101 thanks a lot, it all makes sense now. Great explanation. And what you said led me more digging into details.

this is what I understand, in summary;

example for block 540494



so calculated hash must be less than or equal to the target value...



so it is clear to see that the hash is less than the target...

I understand why there are zeros. it is just the representation. it all makes sense now..

Just one more thing, so the nonce has nothing to do with the difficulty number right?  so nonce can be greater than difficulty value? they are not related at all? if they are not related what is the maximum number a nonce can be? when the miner decides to change something in the block?

EDIT: I believe it can be 2147483647 at most. which is the largest 32bit value. so when it hits this number, miner decides to change something else within the block

Hello everyone, this is my first topic here. I feel excited little bit lol. And sorry for my English, it is not my first language.

Ok so I've been interested in cryptoCurrencies since the August 2017, but lately I decided to learn more about the technology itself; blockchain. I know most of the parts about how it works. but some little details that I dont understand bothering me.

I have researched everywhere. I love researching and learning. But no success for this particular topic.


My questions is about mining (technical side). I understand how it works basically, I'm a home miner myself but couple things really annoying me.


1-) I'm looking at block 540494, its nonce is 2097181953 its hash is 00000000000000000024ada2........

so it starts with 18 leading zeros..

that means a miner starts from 0 calculates its hash with the nonce=0 IF no valid result, THEN increments nonce by 1. now nonce=1, and keep doing this until a hash is found with 18 leading zeros. Because current difficulty requires them to find a hash with 18 leading zeros, right?

Sub-question: I know difficulty changes every 2 weeks, it is now 7,019,199,231,177 but who decides how many leading zeros should be in the valid hash? is it something to do with "target difficulty" rather than the "difficulty number" itself? Are these 2 different difficulty parameters that define the difficulty?


So for this particular example (block 540494) the nonce is 2097181953

that means a miner tried every single nonce from 0 to 2,097,181,953, and calculated hash 2,097,181,953 (lets say 2 billions) times in total and found the valid result which is the hash starting with 18 zeros. (00000000000000000024ada2........)

Now what I dont understand is that an ASIC machine can hash 12 trillion times PER SECOND. and our nonce is 2,097,181,953. so that means winning miner spent only fraction of a second to calculate 2 billions hashes. But it cant be true because block time is 10 minutes, right? so what is wrong here?? What am I doing wrong with this calculation?

My understanding is like the following;


* Miner have a list of transactions and all the properties (headers I believe) to calculate the hash of the block.

* Miner calculates hashes for all the nonces between 0 and the current difficulty (it is now 7,019,199,231,177)

* IF miner finds a hash with at least 18 leading zeros (can be more than 18 zeros, right? since even if it has 20 leading zeros, it is still proof of the work.) that miner gets the reward.

* IF miner cant find a nonce between 0 - 7,019,199,231,177 then miner picks different set of transactions (since calculations with the current list of transactions wont be resulting valid hash.. So miner adds couple more transactions into the block and starts the whole process all over again with the new list of transactions.. hoping to find a valid hash with the nonce between 0 and 7,019,199,231,177 and with the new set of transactions.

So did I get it all wrong? and confused myself for nothing? 😄 or this is actually what is happening? I know there are couple of gurus here and can confirm if I'm right or wrong..


Thanks

Ok I understand that distribution of the tokens are being done by mining, not through ICO, thats good thinking. But there are still lots of things unclear for me... I always get excited for projects like this, there are already a couple working project right now which I participating in with my GPUs, but yours is really unclear for me.

1. When miners stop mining, how do plan to produce new supply of coins?

2. When project actually starts HOW clients in need of computing power purchase GUT? Through where? Exchanges? None of the clients would buy coins through exchanges.

3. For this type of application (GPU power network/cloud) you need lots of resources and budget, and developing this type of softwares would take YEARS. You should have a working demo by now.

4. Since there was no ICOs how did you raise budget for this project? Do you have any investors/partners? I cant see any partners on your website.

5. Who are you guys? I cant see any information about the members of your team. Who is developing this project?

Can we start as a renderer right now? Or is it still being tested right now?

so many things are wrong with this project.. sorry but it sounds bs to me.





1. What made you think that large amounts of computing resources is wasted on mining? It is not wasted, miners get reward for their computing power. Even if it is wasted, how do you plan to 'save' it?



2. Your project uses X16R which is the same algorithm used by other projects to mine "random hash values".



3. You cannot just use GPUs power to empower these areas by using X16R algorithm. You need to develop an actual software, a different software/application/plug-in for each of these areas. For example, if you want to focus on "machine learning", you need to contact with, lets say, 'dataikue' (dataiku.com), if they need more computing power (which I doubt), then you can develop an application for their side and for our (miners) side. Then you can finally, actually start selling our GPUs power to them. They pay you for computing power in GUT, then you pay us our shares in GUT, then we can sell them on exchanges, etc... and so on...

8 sene önce falan duymuştum sanırsam. Yalan olmasın, ilk madencilik çıktığı zaman duymuştum. Hangi mining programı olduğunu hatırlamıyorum fakat o sıralar internetten kolay para nasıl kazanılır çok araştırıyordum, bi arkadaşım mining olayından bahsetmişti. Programı kurup madenciliğe başlamıştım. 10 saat falan açık kaldı pc 1-2 bitcoin bişey geldi 10 saat sonunda. Bikaç kuruş ettiği için, bundan para gelmez diyerek programı sildim ve bidaha bitcoini hiç duymadım. taki 8 ay öncesine kadar. Tekrardan bi arkadaşım beni arayıp, 1000 tane ekran kartı almak istediğini söyledi telefonda. Napçan olm dedim 1000 tane kartı. Ethereum bilionmu? Ethereum madenciliğine başlayacam dedi. Ben hiçbişi anlamadım eve gidip hemen araştırdım, ve işin içine girmiş oldum.