I Mined Bitcoin WITHOUT a Computer

Описание к видео I Mined Bitcoin WITHOUT a Computer

It ends badly...




In this video I mine bitcoin manually by hand with a pencil and paper - no joke. We run the SHA256 hashing algorithm from start to finish then compare our final hash to the block hash target value.

SHA-256 is one of the first and most prominently used hashing algorithms in blockchains like Bitcoin, Bitcoin Cash, and Bitcoin SV. SHA-256 is used in various stages in a blockchain, most prominently:

Consensus mechanism: Miners calculate the hash of new blocks to be created using SHA-256 by varying the value of nonce in a bitcoin block until they reach the hash below the threshold. Then that block can be accepted into the ledger.
Chains of blocks: Each block in the ledger contains a hash generated by SHA-256 referring to the preceding block in the chain.
Digital signatures: Transactions use digital signatures to maintain integrity, the information used in the transaction is hashed using SHA-256, and then it is encrypted with the sender's private key to generate a signature. The miner then verifies this signature to validate the transaction.

The difficulty is a measure of how difficult it is to mine a Bitcoin block, or in more technical terms, to find a hash below a given target. A high difficulty means that it will take more computing power to mine the same number of blocks, making the network more secure against attacks. The difficulty adjustment is directly related to the total estimated mining power estimated in the {hashrate} chart.

#bitcoin

https://sha256algorithm.com/

______________________________________________________________________
Business Inquiries and How to Get in Touch
https://state-change.webflow.io/

If you’re looking to ship your nocode project faster or just want to get smarter about the emerging nocode/lowcode trend then join the only community for nocoders who are serious about building better, faster, products.

State Change Pro (https://statechange.ai/) is a community of seasoned veterans and industry CTOs who are available to work through your nocode questions together.

We’ve helped hundreds of business owners compose solutions faster using the latest and greatest nocode tools.

We have direct relationships with dozens of nocode platforms and are friends with many of the founders. We’ve worked with hundreds of Fortune 500 companies.

If you want to stop wasting time and finally deliver your project to your customers then click the link in the description below and join the only nocode community for builders who want to ship.

https://statechange.ai/

Комментарии

Информация по комментариям в разработке