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brawdias
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July 08, 2018, 11:13:48 PM
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How they regulate the difficulty, I mean, what prevents you from mining ?
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The block chain is the main innovation of Bitcoin. It is the first distributed timestamping system.
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gounderwood
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July 09, 2018, 03:56:31 AM
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you may find useful this article, there is some basis leads to better understanding
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July 09, 2018, 04:02:30 AM
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How they regulate the difficulty, I mean, what prevents you from mining ?

It is adjusted every 2016 blocks based on how quickly the last 2015 blocks were found. For more details, you might want to read these pages:

https://en.bitcoin.it/wiki/Target
https://en.bitcoin.it/wiki/Difficulty
https://en.bitcoin.it/wiki/Mining

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July 11, 2018, 06:59:15 AM
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How they regulate the difficulty, I mean, what prevents you from mining ?

It is adjusted every 2016 blocks based on how quickly the last 2015 blocks were found. For more details, you might want to read these pages:

https://en.bitcoin.it/wiki/Target
https://en.bitcoin.it/wiki/Difficulty
https://en.bitcoin.it/wiki/Mining

This is for bitcoin, every altcoin can change this and the algorithm which is used to adapt the difficulty.

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sakanaNoObake
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July 11, 2018, 10:19:58 AM
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I shall try to explain as simply as I can and as much as I understand. I am not an expert but I shall try.

Nodes (Miners) solve bitcoin puzzles by guessing at random. The hash function makesoutput prediction impossible. So, miners guess the mystery number and apply the hash function to the combination of that guessed number and the data in the block. The resulting hash has to begin with a pre-established number of zeroes. There's no way of knowing which number will work, because two consecutive integers will give wildly varying results. What's more, there may be several nodes that produce the desired result, or there may be none (in which case the miners keep trying, but with a different block configuration).

The first miner to get a resulting hash within the desired range announces its victory to the rest of the network. All the other miners immediately stop work on that block and start trying to figure out the solution for the next one. The victorious miner gets some new bitcoin as a reward for its work.

The difficulty of the calculation (the required number of zeroes at the beginning of the hash string) is adjusted frequently, so that it takes on average about 10 as per decided by the bitcoin devs.

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July 11, 2018, 12:41:19 PM
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I shall try to explain as simply as I can and as much as I understand. I am not an expert but I shall try.

Nodes (Miners) solve bitcoin puzzles by guessing at random. The hash function makesoutput prediction impossible. So, miners guess the mystery number and apply the hash function to the combination of that guessed number and the data in the block. The resulting hash has to begin with a pre-established number of zeroes. There's no way of knowing which number will work, because two consecutive integers will give wildly varying results. What's more, there may be several nodes that produce the desired result, or there may be none (in which case the miners keep trying, but with a different block configuration).

The first miner to get a resulting hash within the desired range announces its victory to the rest of the network. All the other miners immediately stop work on that block and start trying to figure out the solution for the next one. The victorious miner gets some new bitcoin as a reward for its work.

The difficulty of the calculation (the required number of zeroes at the beginning of the hash string) is adjusted frequently, so that it takes on average about 10 as per decided by the bitcoin devs.


This is why miners will cost them money to buy mining tools which can mine faster than the other and will take the victory in which they mined it first. I don't know what algorithm they will use as there are lots of algorithm that can be use for mining like SCRYPT MINER for altcoins like LITE COIN.

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zhanglichen
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July 11, 2018, 02:43:30 PM
 #7

How they regulate the difficulty, I mean, what prevents you from mining ?

It's very simple , such as POW . There is a onece , you need to calculate hash to find this once . If there is not too many miners , the once maybe is very easy to find , but when there are too many miners , the once is very hard to find .

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