Mining Bitcoin: Part IV

Mining Bitcoin Part IV Mining Difficulty Level
Mining Bitcoin Part IV Mining Difficulty Level

Mining Bitcoin Part IV – Mining Difficulty Level

Difficulty Level Mining . The basic concept of Bitcoin mining Bitcoin is that there are small pieces of each block containing random data. Next the miners take all the data in the block, randomize, and recalculate the hash.

The miners will not be able to predict, keep in mind is, hash is easy to produce, but impossible to predict. Thus, the miner BItcoin can not predict the pieces of data will produce what hash. Bitcoin miners just continue to process the data, to fruition. Often, a miner finds a block piece of random data that produces a hash, but is smaller than a certain value based on the degree of difficulty. After that, the miners hand over the blocks and hashes into the Bitcoin network. Once the network confirms and validates, miners will get rewards with a certain amount of Bitcoin.

Difficulty Levels Mining Bitcoin - Increasingly
Difficulty Levels Mining Bitcoin – Increasingly

The degree of difficulty, based on the difficulty of mining a bitcoin block. That’s because the SHA256 Hash Block must be lower or less the same as the target Bitcoin network will receive.

Hash on a block must start with a row of “ZERO” numbers. That is why the degree of difficulty mining on blocks with many series of zero numbers will be lighter. The more miners, the more will be the level of creation of the Bitcoin block.

An example of a Hash row like this:
000009ff7ff1fc53b92dc18148a1d65dfc2d4b1fa3d677284addd200126d9069

For more details, here is an understanding of the Hash and the Blocks that we often hear in Bitcoin.

Hash
In computer terms, hash is the complex result of a mathematical computation that is easy to reproduce but quite difficult to repeat, as well as sulis to predict. The Hash function is an algorithm that converts a text or message into a random sequence of characters. The random character has the same number of characters. In cryptographic techniques, hashes are categorized as keyless cryptography. Has also known as “one way function”.

In Bitcoin, we often hear about Secure Hash Algorithm (SHA). The SHA algorithm was originally developed by the National Institute and Standard Technologies (NIST) in 1993. The first genre was SHA-0. Next, the second generation appears is SHA-1. Then there was the SHA-2 algorithm in 2001 with a wide selection of usable bits of 224, 256, 384, and 512.

Between SHA-1 and SHA-2 basically have more or less similar algorithms. The difference, is the number of characters output only. SHA-1, SHA-256, and SHA-516 have the number of respective output characters respectively is 40,32,64.

Block
In Bitcoin, transactions in Bitcoin are framed in a large piece of data called blocks. These blocks are connected together. And each block, gives the validity of the previous block.

Cloud Faucet Net

Cloud Faucet Net

Cloud Faucet Net is an online medium for sharing knowledge and information about Bitcoin and cryptocurrency. It was first established in March 2017. Hopefully, it can be used as a source of information as well as a reference to the addition of useful knowledge, related to Bitcoin and the technology that surrounds it.

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