Understand Puzzle Bitcoin Mining

Understand Puzzle Bitcoin Mining
Understand Puzzle Bitcoin Mining

Understand Puzzle Bitcoin Mining – In Bitcoin Mining

Bitcoin Puzzle. In the Bitcoin mining process, Bitcoin Puzzle is used as a way to control the passage of bitcoin consensus. Puzzle Bitcoin or “mining puzzle” is located on the core Bitcoin. Miners who successfully solve this puzzle, will get rewarded in the mining process.

Bitcoin’s puzzle serves to control consensus because each miner is also limited in his ability to the degree of difficulty in mining. Thus, the mining consensus can also be controlled and adjusted according to the degree of difficulty at the time.

In the full explanation of Bitcoin mining , we have understood how the difficulty level of mining adapts to the conditions of the mining ecosystem. Miners compete with each other to solve bitcoin puzzles faster and more efficiently. So hope to increase the profitability of the effort within the mining ecosystem.

For the miners, solving puzzles faster and more efficiently, certainly expected to minimize the cost of their computing power. In this case, of course, the design of the puzzle is quite important. Especially as command and guide Bitcoin mining participants.

Read Also: Puzzle Friendliness

In addition to Bitcoin puzzles, there are several other designs that can be applied puzzle.We can also modify Bitcoin puzzles, or even design these puzzles from scratch. For example in the puzzle design in Altcoin, we may have heard of ASIC Resistant puzzles. So the Altcoin puzzle is expected to be unbreakable for ASIC devices.

The ASIC Resistant’s puzzle, intentionally created like that to unlock the widest chance of users with ordinary devices (CPU / GPU). That way, the mining ecosystem becomes more diverse and minimizes the risk of mastering the mining network. Because everyone with limited devices can also participate in mining.

Basic Requirements of Bitcoin Puzzles

There are three main requirements on the preparation of Bitcoin puzzles. All three are:

  • Difficulty level can be adjusted
  • Easy to verify
  • Minimize miners with large hash power always win in the puzzle solving race.

Puzzle Bitcoin, should be able to quickly in the process of verification. Each node in the network, also validate the puzzle solution. Likewise also for nodes that are not involved in the mining process, such as SPV node . Because the SPV client, not involved in this mining process, they fully hand over the mining process to the miners.

Because the puzzle solution verification process is expected to run quickly, the puzzle difficulty level is also arranged in order to adapt to mining conditions. Difficulty level Mining , may change from time to time.

Typically, this puzzle difficulty level changes, adjusting to total hash power in the network.Thus, the difficulty level of Puzzle Bitcoin, can increase the difficulty level, or it decreases.Inside Bitcoin, Bitcoin Puzzle difficulty level, will allow change or even stable within 10 minutes.

Puzzle Bitcoin, also called Hash Preimage Puzzle . So called because it aims to be able to find the hashed output value that has been determined. This hash output, its value should be below target . More Clearly can be read on the discussion of Bitcoin Mining Complete Explanation .

Puzzles in Bitcoin, meet the above criteria. In this case, the Bitcoin puzzle is compiled based on the SHA-256 hash. With SHA-256 based, to tinker with arbitrary single parameters can be more difficult. But for the process of checking the puzzle solution can be done easily, regardless of the level of difficulty.

For the third requirement, it is quite important in establishing a healthy and dynamic mining ecosystem. This third requirement means that the puzzle must be proportional to the hash power used by miners.

Miners who have hadh power both big and small, both have the same chance to be able to solve the puzzle. So even if the miner has a large hash power, the opportunity to profit on the next puzzle split is also proportional. Likewise also the small miners both have a proportional opportunity based on the hash power it has.

If the puzzle is compiled by not meeting this requirement, then a miner with a large hash power that manages to find a new block, is of course a great opportunity to be a winner in the next new blocks. So the miner will always be the winner in solving the next block-block.

Conversely, if the puzzle is well-crafted and meets the requirements of progress freeness , each puzzle-solving race will have the opportunity to solve the puzzle proportionately. In accordance with the amount of power hash owned and contributed in mining.

So the preparation of a good puzzle, is trying to get a miner with a large hash power, will not always win the race in solving the puzzle. For even big miners, they will always need more power with bigger jobs.

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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