Thursday 2 November 2017

Things I don't understand about mining

Looking at the last found block (0000000000000000004d79e4dd57fdafe175821a85adb4cf83aa5e99a782dab5), I've found myself with a few questions which I hope can find answers for:

  1. Since a block is rewarded to a single being (pool / person), how can pools always payout their miners? If a pool doesn't get a block for quite some time (which could possibly happen I guess?) this would be pretty big of deal, wouldn't it?

  2. Regarding difficulty: current diff is 1,452,839,779,145.92, which, to my understanding, means that the hash needs to have 1,452,839,779,145.92 leading zeroes. But a sha256 hash is just 256 bit - but how, since 1,452,839,779,145.92 > 256?

  3. What is preventing storing all the calculated hashes (in a database or wherever) and after a new block is available trying all the previous hashes - using no computational power at all?

  4. Do nonces always start at 0 for new blocks? Or is it random?

Thanks in advance



Submitted November 02, 2017 at 11:57PM by Lokart http://bit.ly/2zs085p

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