How does mining actually work?

11 replies 158 views
sam2014Newbie
Posts: 3 · Reputation: 23
#1May 25, 2024, 09:16 AM
So, what's the real deal with the mining process? If you're just tweaking the nonce value to find a solution, the max int value is around 4.2 billion. An ASIC can crack that in just about a second, right? I've heard there are like 20 million ASICs (thinking of the 14TH/s Antminer S9) out there doing their thing. If you're maxing out the nonce, what do you change next? Is it the time value or the Merkle Root? Does that take into account all the global trades from the past ten minutes? While you're mining, transactions are still popping up everywhere. Are those included in the calculations or not? If not, when does the cutoff happen? How exactly is the sha256 value determined within the mining software? Do we have access to the source code of the mining program for pools? And how many times can an ASIC run that process each second? Can I throw in my own custom program into an ASIC?
3 Reply Quote Share
its_ninjaSenior Member
Posts: 269 · Reputation: 1259
#2May 25, 2024, 04:55 PM
https://bitcoin.it/
3 Reply Quote Share
ninja_viperFull Member
Posts: 178 · Reputation: 785
#3May 25, 2024, 10:54 PM
You could get more on the process here or on here
6 Reply Quote Share
sam2014Newbie
Posts: 3 · Reputation: 23
#4May 26, 2024, 04:38 AM
Then can someone mine future's bitcoin?
3 Reply Quote Share
orbit100Hero Member
Posts: 423 · Reputation: 2314
#5May 26, 2024, 10:10 AM
What does this mean? Everybody competes with each other to find the next block afaik. Do you mean can somebody skip the next block and mine the next 2nd/3rd block instead? How would that block be valid if the previous block is yet to be found though? You might be referring to orphan blocks too I guess[1]. CMIIW. Seeing you've forked Bitcoin on your previous posts, I think you're quite knowledgeable when it comes to mining software. Some of your questions, especially the software part can be answered easily if you check out the GitHub page imo. [1] https://www.investopedia.com/terms/o/orphan-block-cryptocurrency.asp
3 Reply Quote Share
miner2011Senior Member
Posts: 145 · Reputation: 1038
#6May 26, 2024, 02:28 PM
In the first place, inside an asic you cannot embed a separate, personally customized program. It is because if you really want to use an Asic for other purpose, you supposed to design and manufacture a brand new asic anyway for that objective. First, you should know what is bitcoin mining? the basic and simple explanation for this matter is that it is a process of extracting finite Bitcoin through the bitcoin network. where generating new bitcoin by solving algorithmic puzzles.
4 Reply Quote Share
LoneRocketSenior Member
Posts: 363 · Reputation: 1840
#7May 26, 2024, 03:54 PM
You asked so many questions on one topic that each needed a separate topic and a separate long explanation. For this question: You can look at this quote I think you will find a good answer here: You can read the full article here: https://www.simplilearn.com/bitcoin-mining-explained-article
3 Reply Quote Share
sam2014Newbie
Posts: 3 · Reputation: 23
#8May 26, 2024, 09:27 PM
Thanks but this is too basic info and we already know, and does not satisfy my question, detailed description of what actually happens between so many miners worldwidely at source-code level.
0 Reply Quote Share
Gig4L0rdSenior Member
Posts: 234 · Reputation: 1329
#9May 27, 2024, 10:28 PM
Kano sent you a link providing all the answers You should read this book : https://github.com/bitcoinbook/bitcoinbook/blob/develop/book.asciidoc
0 Reply Quote Share
kevinorbitFull Member
Posts: 92 · Reputation: 508
#10May 28, 2024, 03:59 AM
I think that there are a lot of processing and also process that I will tell you such details. In my knowledge, mining is a method of solving mathematics questions and in this regards a block is created and that's called digital mining and that is very different from others like Coal mining.
3 Reply Quote Share
D4rkFalconSenior Member
Posts: 308 · Reputation: 1050
#11May 28, 2024, 06:24 AM
All above me has already said the mining actual process but Im gonna share this so you can might understand how mining work Its actually 8 Years Video but still fun to watch https://www.youtube.com/watch?v=y3dqhixzGVo Mining with paper and pencil
2 Reply Quote Share
the_nonceMember
Posts: 6 · Reputation: 143
#12May 28, 2024, 10:47 AM
Crypto mining is the process of verifying and adding new transactions to a blockchain by solving complex mathematical problems through computational power. The process can vary depending on the type of cryptocurrency being mined, Setting up hardware: The first step is to set up specialized hardware, such as ASICs (Application-Specific Integrated Circuits) or GPUs (Graphics Processing Units), that are designed to perform the complex calculations required for mining. These devices are connected to a computer or mining rig and require a significant amount of electricity to operate. Choosing a mining pool: Miners can choose to work individually or join a mining pool, where multiple miners combine their resources to increase their chances of finding a block and share the rewards
2 Reply Quote Share

Related topics