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\n

It is practically impossible to reveal the initial data from a hash value as they are only one-way functions. <\/p>\n\n\n\n

Bitcoin utilizes a double SHA-256, meaning once they get the initial hash from the data, it is hashed once again - this creates an insurmountable amount of possible hashes basically eliminating the chance of a brute-force attack<\/a> as it would take 2^256 attempts to generate the initial data,((N-able - SHA-256 Algorithm Overview<\/a>)) more than the number of atoms in the universe.<\/p>\n","post_title":"SHA-256","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"sha-256","to_ping":"","pinged":"https:\/\/www.thedistributed.co\/what-is-a-51-attack-on-a-blockchain\/\nhttps:\/\/www.thedistributed.co\/what-is-distributed-ledger-technology\/\nhttps:\/\/www.thedistributed.co\/a-guide-to-cryptocurrency-mining\/","post_modified":"2022-07-31 23:20:17","post_modified_gmt":"2022-07-31 13:20:17","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3401","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

Most Read

Subscribe To Our Newsletter

By subscribing, you agree with our privacy and terms.

Follow The Distributed

Twitter Instagram Youtube LinkedIn Facebook RSS
ADVERTISEMENT
\n

SHA-256 is a variant of the SHA-2, which was initially developed by the National Security Agency.((Federal Register - Announcing Approval of Federal Information Processing Standard (FIPS) 180-2, Secure Hash Standard; a Revision of FIPS 180-1<\/a>)) This means that the inner workings of the algorithm aren't known to the public as it protects sensitive information belonging to the United States. <\/p>\n\n\n\n

It is practically impossible to reveal the initial data from a hash value as they are only one-way functions. <\/p>\n\n\n\n

Bitcoin utilizes a double SHA-256, meaning once they get the initial hash from the data, it is hashed once again - this creates an insurmountable amount of possible hashes basically eliminating the chance of a brute-force attack<\/a> as it would take 2^256 attempts to generate the initial data,((N-able - SHA-256 Algorithm Overview<\/a>)) more than the number of atoms in the universe.<\/p>\n","post_title":"SHA-256","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"sha-256","to_ping":"","pinged":"https:\/\/www.thedistributed.co\/what-is-a-51-attack-on-a-blockchain\/\nhttps:\/\/www.thedistributed.co\/what-is-distributed-ledger-technology\/\nhttps:\/\/www.thedistributed.co\/a-guide-to-cryptocurrency-mining\/","post_modified":"2022-07-31 23:20:17","post_modified_gmt":"2022-07-31 13:20:17","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3401","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

Most Read

Subscribe To Our Newsletter

By subscribing, you agree with our privacy and terms.

Follow The Distributed

Twitter Instagram Youtube LinkedIn Facebook RSS
ADVERTISEMENT
\n

How Secure Is SHA-256?<\/h2>\n\n\n\n

SHA-256 is a variant of the SHA-2, which was initially developed by the National Security Agency.((Federal Register - Announcing Approval of Federal Information Processing Standard (FIPS) 180-2, Secure Hash Standard; a Revision of FIPS 180-1<\/a>)) This means that the inner workings of the algorithm aren't known to the public as it protects sensitive information belonging to the United States. <\/p>\n\n\n\n

It is practically impossible to reveal the initial data from a hash value as they are only one-way functions. <\/p>\n\n\n\n

Bitcoin utilizes a double SHA-256, meaning once they get the initial hash from the data, it is hashed once again - this creates an insurmountable amount of possible hashes basically eliminating the chance of a brute-force attack<\/a> as it would take 2^256 attempts to generate the initial data,((N-able - SHA-256 Algorithm Overview<\/a>)) more than the number of atoms in the universe.<\/p>\n","post_title":"SHA-256","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"sha-256","to_ping":"","pinged":"https:\/\/www.thedistributed.co\/what-is-a-51-attack-on-a-blockchain\/\nhttps:\/\/www.thedistributed.co\/what-is-distributed-ledger-technology\/\nhttps:\/\/www.thedistributed.co\/a-guide-to-cryptocurrency-mining\/","post_modified":"2022-07-31 23:20:17","post_modified_gmt":"2022-07-31 13:20:17","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3401","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

Most Read

Subscribe To Our Newsletter

By subscribing, you agree with our privacy and terms.

Follow The Distributed

Twitter Instagram Youtube LinkedIn Facebook RSS
ADVERTISEMENT
\n

The hashing algorithm is responsible for wallet address creation and management along with the verification of transactions on the blockchain ledger<\/a> through mining<\/a>. ((Bitcoin Wiki - SHA-256<\/a>))<\/p>\n\n\n\n

How Secure Is SHA-256?<\/h2>\n\n\n\n

SHA-256 is a variant of the SHA-2, which was initially developed by the National Security Agency.((Federal Register - Announcing Approval of Federal Information Processing Standard (FIPS) 180-2, Secure Hash Standard; a Revision of FIPS 180-1<\/a>)) This means that the inner workings of the algorithm aren't known to the public as it protects sensitive information belonging to the United States. <\/p>\n\n\n\n

It is practically impossible to reveal the initial data from a hash value as they are only one-way functions. <\/p>\n\n\n\n

Bitcoin utilizes a double SHA-256, meaning once they get the initial hash from the data, it is hashed once again - this creates an insurmountable amount of possible hashes basically eliminating the chance of a brute-force attack<\/a> as it would take 2^256 attempts to generate the initial data,((N-able - SHA-256 Algorithm Overview<\/a>)) more than the number of atoms in the universe.<\/p>\n","post_title":"SHA-256","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"sha-256","to_ping":"","pinged":"https:\/\/www.thedistributed.co\/what-is-a-51-attack-on-a-blockchain\/\nhttps:\/\/www.thedistributed.co\/what-is-distributed-ledger-technology\/\nhttps:\/\/www.thedistributed.co\/a-guide-to-cryptocurrency-mining\/","post_modified":"2022-07-31 23:20:17","post_modified_gmt":"2022-07-31 13:20:17","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3401","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

Most Read

Subscribe To Our Newsletter

By subscribing, you agree with our privacy and terms.

Follow The Distributed

Twitter Instagram Youtube LinkedIn Facebook RSS
ADVERTISEMENT
\n

Securing Hashing Algorithm 256 (SHA-256) is the hashing algorithm used to secure blockchains such as Bitcoin, where the hashing function<\/a> emits a 256-bit wide output. <\/p>\n\n\n\n

The hashing algorithm is responsible for wallet address creation and management along with the verification of transactions on the blockchain ledger<\/a> through mining<\/a>. ((Bitcoin Wiki - SHA-256<\/a>))<\/p>\n\n\n\n

How Secure Is SHA-256?<\/h2>\n\n\n\n

SHA-256 is a variant of the SHA-2, which was initially developed by the National Security Agency.((Federal Register - Announcing Approval of Federal Information Processing Standard (FIPS) 180-2, Secure Hash Standard; a Revision of FIPS 180-1<\/a>)) This means that the inner workings of the algorithm aren't known to the public as it protects sensitive information belonging to the United States. <\/p>\n\n\n\n

It is practically impossible to reveal the initial data from a hash value as they are only one-way functions. <\/p>\n\n\n\n

Bitcoin utilizes a double SHA-256, meaning once they get the initial hash from the data, it is hashed once again - this creates an insurmountable amount of possible hashes basically eliminating the chance of a brute-force attack<\/a> as it would take 2^256 attempts to generate the initial data,((N-able - SHA-256 Algorithm Overview<\/a>)) more than the number of atoms in the universe.<\/p>\n","post_title":"SHA-256","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"sha-256","to_ping":"","pinged":"https:\/\/www.thedistributed.co\/what-is-a-51-attack-on-a-blockchain\/\nhttps:\/\/www.thedistributed.co\/what-is-distributed-ledger-technology\/\nhttps:\/\/www.thedistributed.co\/a-guide-to-cryptocurrency-mining\/","post_modified":"2022-07-31 23:20:17","post_modified_gmt":"2022-07-31 13:20:17","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3401","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

Most Read

Subscribe To Our Newsletter

By subscribing, you agree with our privacy and terms.

Follow The Distributed

Twitter Instagram Youtube LinkedIn Facebook RSS
ADVERTISEMENT
\n

What Is SHA-256?<\/h2>\n\n\n\n

Securing Hashing Algorithm 256 (SHA-256) is the hashing algorithm used to secure blockchains such as Bitcoin, where the hashing function<\/a> emits a 256-bit wide output. <\/p>\n\n\n\n

The hashing algorithm is responsible for wallet address creation and management along with the verification of transactions on the blockchain ledger<\/a> through mining<\/a>. ((Bitcoin Wiki - SHA-256<\/a>))<\/p>\n\n\n\n

How Secure Is SHA-256?<\/h2>\n\n\n\n

SHA-256 is a variant of the SHA-2, which was initially developed by the National Security Agency.((Federal Register - Announcing Approval of Federal Information Processing Standard (FIPS) 180-2, Secure Hash Standard; a Revision of FIPS 180-1<\/a>)) This means that the inner workings of the algorithm aren't known to the public as it protects sensitive information belonging to the United States. <\/p>\n\n\n\n

It is practically impossible to reveal the initial data from a hash value as they are only one-way functions. <\/p>\n\n\n\n

Bitcoin utilizes a double SHA-256, meaning once they get the initial hash from the data, it is hashed once again - this creates an insurmountable amount of possible hashes basically eliminating the chance of a brute-force attack<\/a> as it would take 2^256 attempts to generate the initial data,((N-able - SHA-256 Algorithm Overview<\/a>)) more than the number of atoms in the universe.<\/p>\n","post_title":"SHA-256","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"sha-256","to_ping":"","pinged":"https:\/\/www.thedistributed.co\/what-is-a-51-attack-on-a-blockchain\/\nhttps:\/\/www.thedistributed.co\/what-is-distributed-ledger-technology\/\nhttps:\/\/www.thedistributed.co\/a-guide-to-cryptocurrency-mining\/","post_modified":"2022-07-31 23:20:17","post_modified_gmt":"2022-07-31 13:20:17","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3401","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

Most Read

Subscribe To Our Newsletter

By subscribing, you agree with our privacy and terms.

Follow The Distributed

Twitter Instagram Youtube LinkedIn Facebook RSS
ADVERTISEMENT
\n

Hashrate is also a metric that can measure the profitability of miners. For a single mining device having a high hashrate means that you'll increase your compensation for the work you put in, giving you a better reward.<\/p>\n","post_title":"Mining Hashrate Explained","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"mining-hashrate","to_ping":"","pinged":"https:\/\/www.thedistributed.co\/what-is-a-51-attack-on-a-blockchain\/\nhttps:\/\/www.thedistributed.co\/what-are-nodes\/\nhttps:\/\/www.thedistributed.co\/what-is-distributed-ledger-technology\/","post_modified":"2022-06-02 22:17:31","post_modified_gmt":"2022-06-02 12:17:31","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3471","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3401,"post_author":"1","post_date":"2022-02-07 19:10:06","post_date_gmt":"2022-02-07 08:10:06","post_content":"\n

What Is SHA-256?<\/h2>\n\n\n\n

Securing Hashing Algorithm 256 (SHA-256) is the hashing algorithm used to secure blockchains such as Bitcoin, where the hashing function<\/a> emits a 256-bit wide output. <\/p>\n\n\n\n

The hashing algorithm is responsible for wallet address creation and management along with the verification of transactions on the blockchain ledger<\/a> through mining<\/a>. ((Bitcoin Wiki - SHA-256<\/a>))<\/p>\n\n\n\n

How Secure Is SHA-256?<\/h2>\n\n\n\n

SHA-256 is a variant of the SHA-2, which was initially developed by the National Security Agency.((Federal Register - Announcing Approval of Federal Information Processing Standard (FIPS) 180-2, Secure Hash Standard; a Revision of FIPS 180-1<\/a>)) This means that the inner workings of the algorithm aren't known to the public as it protects sensitive information belonging to the United States. <\/p>\n\n\n\n

It is practically impossible to reveal the initial data from a hash value as they are only one-way functions. <\/p>\n\n\n\n

Bitcoin utilizes a double SHA-256, meaning once they get the initial hash from the data, it is hashed once again - this creates an insurmountable amount of possible hashes basically eliminating the chance of a brute-force attack<\/a> as it would take 2^256 attempts to generate the initial data,((N-able - SHA-256 Algorithm Overview<\/a>)) more than the number of atoms in the universe.<\/p>\n","post_title":"SHA-256","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"sha-256","to_ping":"","pinged":"https:\/\/www.thedistributed.co\/what-is-a-51-attack-on-a-blockchain\/\nhttps:\/\/www.thedistributed.co\/what-is-distributed-ledger-technology\/\nhttps:\/\/www.thedistributed.co\/a-guide-to-cryptocurrency-mining\/","post_modified":"2022-07-31 23:20:17","post_modified_gmt":"2022-07-31 13:20:17","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3401","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

Most Read

Subscribe To Our Newsletter

By subscribing, you agree with our privacy and terms.

Follow The Distributed

Twitter Instagram Youtube LinkedIn Facebook RSS
ADVERTISEMENT
\n

Hashrate can measure the health and security of a network against potential attackers. Having a higher hashrate means a 51% attack<\/a> is unlikely due to the high amount of computational power needed. The more computational power or nodes<\/a> within a network, the more secure it is.<\/p>\n\n\n\n

Hashrate is also a metric that can measure the profitability of miners. For a single mining device having a high hashrate means that you'll increase your compensation for the work you put in, giving you a better reward.<\/p>\n","post_title":"Mining Hashrate Explained","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"mining-hashrate","to_ping":"","pinged":"https:\/\/www.thedistributed.co\/what-is-a-51-attack-on-a-blockchain\/\nhttps:\/\/www.thedistributed.co\/what-are-nodes\/\nhttps:\/\/www.thedistributed.co\/what-is-distributed-ledger-technology\/","post_modified":"2022-06-02 22:17:31","post_modified_gmt":"2022-06-02 12:17:31","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3471","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3401,"post_author":"1","post_date":"2022-02-07 19:10:06","post_date_gmt":"2022-02-07 08:10:06","post_content":"\n

What Is SHA-256?<\/h2>\n\n\n\n

Securing Hashing Algorithm 256 (SHA-256) is the hashing algorithm used to secure blockchains such as Bitcoin, where the hashing function<\/a> emits a 256-bit wide output. <\/p>\n\n\n\n

The hashing algorithm is responsible for wallet address creation and management along with the verification of transactions on the blockchain ledger<\/a> through mining<\/a>. ((Bitcoin Wiki - SHA-256<\/a>))<\/p>\n\n\n\n

How Secure Is SHA-256?<\/h2>\n\n\n\n

SHA-256 is a variant of the SHA-2, which was initially developed by the National Security Agency.((Federal Register - Announcing Approval of Federal Information Processing Standard (FIPS) 180-2, Secure Hash Standard; a Revision of FIPS 180-1<\/a>)) This means that the inner workings of the algorithm aren't known to the public as it protects sensitive information belonging to the United States. <\/p>\n\n\n\n

It is practically impossible to reveal the initial data from a hash value as they are only one-way functions. <\/p>\n\n\n\n

Bitcoin utilizes a double SHA-256, meaning once they get the initial hash from the data, it is hashed once again - this creates an insurmountable amount of possible hashes basically eliminating the chance of a brute-force attack<\/a> as it would take 2^256 attempts to generate the initial data,((N-able - SHA-256 Algorithm Overview<\/a>)) more than the number of atoms in the universe.<\/p>\n","post_title":"SHA-256","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"sha-256","to_ping":"","pinged":"https:\/\/www.thedistributed.co\/what-is-a-51-attack-on-a-blockchain\/\nhttps:\/\/www.thedistributed.co\/what-is-distributed-ledger-technology\/\nhttps:\/\/www.thedistributed.co\/a-guide-to-cryptocurrency-mining\/","post_modified":"2022-07-31 23:20:17","post_modified_gmt":"2022-07-31 13:20:17","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3401","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

Most Read

Subscribe To Our Newsletter

By subscribing, you agree with our privacy and terms.

Follow The Distributed

Twitter Instagram Youtube LinkedIn Facebook RSS
ADVERTISEMENT
\n

Why Is Hashrate Important?<\/h2>\n\n\n\n

Hashrate can measure the health and security of a network against potential attackers. Having a higher hashrate means a 51% attack<\/a> is unlikely due to the high amount of computational power needed. The more computational power or nodes<\/a> within a network, the more secure it is.<\/p>\n\n\n\n

Hashrate is also a metric that can measure the profitability of miners. For a single mining device having a high hashrate means that you'll increase your compensation for the work you put in, giving you a better reward.<\/p>\n","post_title":"Mining Hashrate Explained","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"mining-hashrate","to_ping":"","pinged":"https:\/\/www.thedistributed.co\/what-is-a-51-attack-on-a-blockchain\/\nhttps:\/\/www.thedistributed.co\/what-are-nodes\/\nhttps:\/\/www.thedistributed.co\/what-is-distributed-ledger-technology\/","post_modified":"2022-06-02 22:17:31","post_modified_gmt":"2022-06-02 12:17:31","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3471","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3401,"post_author":"1","post_date":"2022-02-07 19:10:06","post_date_gmt":"2022-02-07 08:10:06","post_content":"\n

What Is SHA-256?<\/h2>\n\n\n\n

Securing Hashing Algorithm 256 (SHA-256) is the hashing algorithm used to secure blockchains such as Bitcoin, where the hashing function<\/a> emits a 256-bit wide output. <\/p>\n\n\n\n

The hashing algorithm is responsible for wallet address creation and management along with the verification of transactions on the blockchain ledger<\/a> through mining<\/a>. ((Bitcoin Wiki - SHA-256<\/a>))<\/p>\n\n\n\n

How Secure Is SHA-256?<\/h2>\n\n\n\n

SHA-256 is a variant of the SHA-2, which was initially developed by the National Security Agency.((Federal Register - Announcing Approval of Federal Information Processing Standard (FIPS) 180-2, Secure Hash Standard; a Revision of FIPS 180-1<\/a>)) This means that the inner workings of the algorithm aren't known to the public as it protects sensitive information belonging to the United States. <\/p>\n\n\n\n

It is practically impossible to reveal the initial data from a hash value as they are only one-way functions. <\/p>\n\n\n\n

Bitcoin utilizes a double SHA-256, meaning once they get the initial hash from the data, it is hashed once again - this creates an insurmountable amount of possible hashes basically eliminating the chance of a brute-force attack<\/a> as it would take 2^256 attempts to generate the initial data,((N-able - SHA-256 Algorithm Overview<\/a>)) more than the number of atoms in the universe.<\/p>\n","post_title":"SHA-256","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"sha-256","to_ping":"","pinged":"https:\/\/www.thedistributed.co\/what-is-a-51-attack-on-a-blockchain\/\nhttps:\/\/www.thedistributed.co\/what-is-distributed-ledger-technology\/\nhttps:\/\/www.thedistributed.co\/a-guide-to-cryptocurrency-mining\/","post_modified":"2022-07-31 23:20:17","post_modified_gmt":"2022-07-31 13:20:17","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3401","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

Most Read

Subscribe To Our Newsletter

By subscribing, you agree with our privacy and terms.

Follow The Distributed

Twitter Instagram Youtube LinkedIn Facebook RSS
ADVERTISEMENT
\n

The hashrate of a network refers to the hash rates of all miners<\/a> on a specific network.<\/p>\n\n\n\n

Why Is Hashrate Important?<\/h2>\n\n\n\n

Hashrate can measure the health and security of a network against potential attackers. Having a higher hashrate means a 51% attack<\/a> is unlikely due to the high amount of computational power needed. The more computational power or nodes<\/a> within a network, the more secure it is.<\/p>\n\n\n\n

Hashrate is also a metric that can measure the profitability of miners. For a single mining device having a high hashrate means that you'll increase your compensation for the work you put in, giving you a better reward.<\/p>\n","post_title":"Mining Hashrate Explained","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"mining-hashrate","to_ping":"","pinged":"https:\/\/www.thedistributed.co\/what-is-a-51-attack-on-a-blockchain\/\nhttps:\/\/www.thedistributed.co\/what-are-nodes\/\nhttps:\/\/www.thedistributed.co\/what-is-distributed-ledger-technology\/","post_modified":"2022-06-02 22:17:31","post_modified_gmt":"2022-06-02 12:17:31","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3471","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3401,"post_author":"1","post_date":"2022-02-07 19:10:06","post_date_gmt":"2022-02-07 08:10:06","post_content":"\n

What Is SHA-256?<\/h2>\n\n\n\n

Securing Hashing Algorithm 256 (SHA-256) is the hashing algorithm used to secure blockchains such as Bitcoin, where the hashing function<\/a> emits a 256-bit wide output. <\/p>\n\n\n\n

The hashing algorithm is responsible for wallet address creation and management along with the verification of transactions on the blockchain ledger<\/a> through mining<\/a>. ((Bitcoin Wiki - SHA-256<\/a>))<\/p>\n\n\n\n

How Secure Is SHA-256?<\/h2>\n\n\n\n

SHA-256 is a variant of the SHA-2, which was initially developed by the National Security Agency.((Federal Register - Announcing Approval of Federal Information Processing Standard (FIPS) 180-2, Secure Hash Standard; a Revision of FIPS 180-1<\/a>)) This means that the inner workings of the algorithm aren't known to the public as it protects sensitive information belonging to the United States. <\/p>\n\n\n\n

It is practically impossible to reveal the initial data from a hash value as they are only one-way functions. <\/p>\n\n\n\n

Bitcoin utilizes a double SHA-256, meaning once they get the initial hash from the data, it is hashed once again - this creates an insurmountable amount of possible hashes basically eliminating the chance of a brute-force attack<\/a> as it would take 2^256 attempts to generate the initial data,((N-able - SHA-256 Algorithm Overview<\/a>)) more than the number of atoms in the universe.<\/p>\n","post_title":"SHA-256","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"sha-256","to_ping":"","pinged":"https:\/\/www.thedistributed.co\/what-is-a-51-attack-on-a-blockchain\/\nhttps:\/\/www.thedistributed.co\/what-is-distributed-ledger-technology\/\nhttps:\/\/www.thedistributed.co\/a-guide-to-cryptocurrency-mining\/","post_modified":"2022-07-31 23:20:17","post_modified_gmt":"2022-07-31 13:20:17","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3401","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

Most Read

Subscribe To Our Newsletter

By subscribing, you agree with our privacy and terms.

Follow The Distributed

Twitter Instagram Youtube LinkedIn Facebook RSS
ADVERTISEMENT
\n

The hashrate of a miner<\/a> refers to the number calculations a rig can solve per second, known as a hash. <\/p>\n\n\n\n

The hashrate of a network refers to the hash rates of all miners<\/a> on a specific network.<\/p>\n\n\n\n

Why Is Hashrate Important?<\/h2>\n\n\n\n

Hashrate can measure the health and security of a network against potential attackers. Having a higher hashrate means a 51% attack<\/a> is unlikely due to the high amount of computational power needed. The more computational power or nodes<\/a> within a network, the more secure it is.<\/p>\n\n\n\n

Hashrate is also a metric that can measure the profitability of miners. For a single mining device having a high hashrate means that you'll increase your compensation for the work you put in, giving you a better reward.<\/p>\n","post_title":"Mining Hashrate Explained","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"mining-hashrate","to_ping":"","pinged":"https:\/\/www.thedistributed.co\/what-is-a-51-attack-on-a-blockchain\/\nhttps:\/\/www.thedistributed.co\/what-are-nodes\/\nhttps:\/\/www.thedistributed.co\/what-is-distributed-ledger-technology\/","post_modified":"2022-06-02 22:17:31","post_modified_gmt":"2022-06-02 12:17:31","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3471","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3401,"post_author":"1","post_date":"2022-02-07 19:10:06","post_date_gmt":"2022-02-07 08:10:06","post_content":"\n

What Is SHA-256?<\/h2>\n\n\n\n

Securing Hashing Algorithm 256 (SHA-256) is the hashing algorithm used to secure blockchains such as Bitcoin, where the hashing function<\/a> emits a 256-bit wide output. <\/p>\n\n\n\n

The hashing algorithm is responsible for wallet address creation and management along with the verification of transactions on the blockchain ledger<\/a> through mining<\/a>. ((Bitcoin Wiki - SHA-256<\/a>))<\/p>\n\n\n\n

How Secure Is SHA-256?<\/h2>\n\n\n\n

SHA-256 is a variant of the SHA-2, which was initially developed by the National Security Agency.((Federal Register - Announcing Approval of Federal Information Processing Standard (FIPS) 180-2, Secure Hash Standard; a Revision of FIPS 180-1<\/a>)) This means that the inner workings of the algorithm aren't known to the public as it protects sensitive information belonging to the United States. <\/p>\n\n\n\n

It is practically impossible to reveal the initial data from a hash value as they are only one-way functions. <\/p>\n\n\n\n

Bitcoin utilizes a double SHA-256, meaning once they get the initial hash from the data, it is hashed once again - this creates an insurmountable amount of possible hashes basically eliminating the chance of a brute-force attack<\/a> as it would take 2^256 attempts to generate the initial data,((N-able - SHA-256 Algorithm Overview<\/a>)) more than the number of atoms in the universe.<\/p>\n","post_title":"SHA-256","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"sha-256","to_ping":"","pinged":"https:\/\/www.thedistributed.co\/what-is-a-51-attack-on-a-blockchain\/\nhttps:\/\/www.thedistributed.co\/what-is-distributed-ledger-technology\/\nhttps:\/\/www.thedistributed.co\/a-guide-to-cryptocurrency-mining\/","post_modified":"2022-07-31 23:20:17","post_modified_gmt":"2022-07-31 13:20:17","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3401","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

Most Read

Subscribe To Our Newsletter

By subscribing, you agree with our privacy and terms.

Follow The Distributed

Twitter Instagram Youtube LinkedIn Facebook RSS
ADVERTISEMENT
\n

A mining hashrate is the amount of processing power a miner or network has to process transactions onto a blockchains ledger<\/a>.<\/p>\n\n\n\n

The hashrate of a miner<\/a> refers to the number calculations a rig can solve per second, known as a hash. <\/p>\n\n\n\n

The hashrate of a network refers to the hash rates of all miners<\/a> on a specific network.<\/p>\n\n\n\n

Why Is Hashrate Important?<\/h2>\n\n\n\n

Hashrate can measure the health and security of a network against potential attackers. Having a higher hashrate means a 51% attack<\/a> is unlikely due to the high amount of computational power needed. The more computational power or nodes<\/a> within a network, the more secure it is.<\/p>\n\n\n\n

Hashrate is also a metric that can measure the profitability of miners. For a single mining device having a high hashrate means that you'll increase your compensation for the work you put in, giving you a better reward.<\/p>\n","post_title":"Mining Hashrate Explained","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"mining-hashrate","to_ping":"","pinged":"https:\/\/www.thedistributed.co\/what-is-a-51-attack-on-a-blockchain\/\nhttps:\/\/www.thedistributed.co\/what-are-nodes\/\nhttps:\/\/www.thedistributed.co\/what-is-distributed-ledger-technology\/","post_modified":"2022-06-02 22:17:31","post_modified_gmt":"2022-06-02 12:17:31","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3471","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3401,"post_author":"1","post_date":"2022-02-07 19:10:06","post_date_gmt":"2022-02-07 08:10:06","post_content":"\n

What Is SHA-256?<\/h2>\n\n\n\n

Securing Hashing Algorithm 256 (SHA-256) is the hashing algorithm used to secure blockchains such as Bitcoin, where the hashing function<\/a> emits a 256-bit wide output. <\/p>\n\n\n\n

The hashing algorithm is responsible for wallet address creation and management along with the verification of transactions on the blockchain ledger<\/a> through mining<\/a>. ((Bitcoin Wiki - SHA-256<\/a>))<\/p>\n\n\n\n

How Secure Is SHA-256?<\/h2>\n\n\n\n

SHA-256 is a variant of the SHA-2, which was initially developed by the National Security Agency.((Federal Register - Announcing Approval of Federal Information Processing Standard (FIPS) 180-2, Secure Hash Standard; a Revision of FIPS 180-1<\/a>)) This means that the inner workings of the algorithm aren't known to the public as it protects sensitive information belonging to the United States. <\/p>\n\n\n\n

It is practically impossible to reveal the initial data from a hash value as they are only one-way functions. <\/p>\n\n\n\n

Bitcoin utilizes a double SHA-256, meaning once they get the initial hash from the data, it is hashed once again - this creates an insurmountable amount of possible hashes basically eliminating the chance of a brute-force attack<\/a> as it would take 2^256 attempts to generate the initial data,((N-able - SHA-256 Algorithm Overview<\/a>)) more than the number of atoms in the universe.<\/p>\n","post_title":"SHA-256","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"sha-256","to_ping":"","pinged":"https:\/\/www.thedistributed.co\/what-is-a-51-attack-on-a-blockchain\/\nhttps:\/\/www.thedistributed.co\/what-is-distributed-ledger-technology\/\nhttps:\/\/www.thedistributed.co\/a-guide-to-cryptocurrency-mining\/","post_modified":"2022-07-31 23:20:17","post_modified_gmt":"2022-07-31 13:20:17","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3401","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

Most Read

Subscribe To Our Newsletter

By subscribing, you agree with our privacy and terms.

Follow The Distributed

Twitter Instagram Youtube LinkedIn Facebook RSS
ADVERTISEMENT
\n

The previous candidate block has now become a confirmed block. The miners now move on to the next block. The miners whose candidate blocks weren't successful discard it and repeat the process in hopes of having the next confirmed block.<\/p>\n","post_title":"Cryptocurrency Mining","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"cryptocurrency-mining","to_ping":"","pinged":"https:\/\/www.thedistributed.co\/what-are-nodes\/\nhttps:\/\/www.thedistributed.co\/what-is-a-cryptographic-nonce-a-number-only-used-once\/\nhttps:\/\/www.thedistributed.co\/what-is-a-mining-hashrate\/\nhttps:\/\/www.thedistributed.co\/what-is-a-mempool-cryptocurrency-memory-pool\/\nhttps:\/\/www.thedistributed.co\/what-is-a-blockchain-protocol\/\nhttps:\/\/www.thedistributed.co\/what-is-distributed-ledger-technology\/","post_modified":"2022-07-25 00:47:38","post_modified_gmt":"2022-07-24 14:47:38","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3527","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3471,"post_author":"1","post_date":"2022-02-15 20:49:02","post_date_gmt":"2022-02-15 09:49:02","post_content":"\n

A mining hashrate is the amount of processing power a miner or network has to process transactions onto a blockchains ledger<\/a>.<\/p>\n\n\n\n

The hashrate of a miner<\/a> refers to the number calculations a rig can solve per second, known as a hash. <\/p>\n\n\n\n

The hashrate of a network refers to the hash rates of all miners<\/a> on a specific network.<\/p>\n\n\n\n

Why Is Hashrate Important?<\/h2>\n\n\n\n

Hashrate can measure the health and security of a network against potential attackers. Having a higher hashrate means a 51% attack<\/a> is unlikely due to the high amount of computational power needed. The more computational power or nodes<\/a> within a network, the more secure it is.<\/p>\n\n\n\n

Hashrate is also a metric that can measure the profitability of miners. For a single mining device having a high hashrate means that you'll increase your compensation for the work you put in, giving you a better reward.<\/p>\n","post_title":"Mining Hashrate Explained","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"mining-hashrate","to_ping":"","pinged":"https:\/\/www.thedistributed.co\/what-is-a-51-attack-on-a-blockchain\/\nhttps:\/\/www.thedistributed.co\/what-are-nodes\/\nhttps:\/\/www.thedistributed.co\/what-is-distributed-ledger-technology\/","post_modified":"2022-06-02 22:17:31","post_modified_gmt":"2022-06-02 12:17:31","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3471","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3401,"post_author":"1","post_date":"2022-02-07 19:10:06","post_date_gmt":"2022-02-07 08:10:06","post_content":"\n

What Is SHA-256?<\/h2>\n\n\n\n

Securing Hashing Algorithm 256 (SHA-256) is the hashing algorithm used to secure blockchains such as Bitcoin, where the hashing function<\/a> emits a 256-bit wide output. <\/p>\n\n\n\n

The hashing algorithm is responsible for wallet address creation and management along with the verification of transactions on the blockchain ledger<\/a> through mining<\/a>. ((Bitcoin Wiki - SHA-256<\/a>))<\/p>\n\n\n\n

How Secure Is SHA-256?<\/h2>\n\n\n\n

SHA-256 is a variant of the SHA-2, which was initially developed by the National Security Agency.((Federal Register - Announcing Approval of Federal Information Processing Standard (FIPS) 180-2, Secure Hash Standard; a Revision of FIPS 180-1<\/a>)) This means that the inner workings of the algorithm aren't known to the public as it protects sensitive information belonging to the United States. <\/p>\n\n\n\n

It is practically impossible to reveal the initial data from a hash value as they are only one-way functions. <\/p>\n\n\n\n

Bitcoin utilizes a double SHA-256, meaning once they get the initial hash from the data, it is hashed once again - this creates an insurmountable amount of possible hashes basically eliminating the chance of a brute-force attack<\/a> as it would take 2^256 attempts to generate the initial data,((N-able - SHA-256 Algorithm Overview<\/a>)) more than the number of atoms in the universe.<\/p>\n","post_title":"SHA-256","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"sha-256","to_ping":"","pinged":"https:\/\/www.thedistributed.co\/what-is-a-51-attack-on-a-blockchain\/\nhttps:\/\/www.thedistributed.co\/what-is-distributed-ledger-technology\/\nhttps:\/\/www.thedistributed.co\/a-guide-to-cryptocurrency-mining\/","post_modified":"2022-07-31 23:20:17","post_modified_gmt":"2022-07-31 13:20:17","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3401","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

Most Read

Subscribe To Our Newsletter

By subscribing, you agree with our privacy and terms.

Follow The Distributed

Twitter Instagram Youtube LinkedIn Facebook RSS
ADVERTISEMENT
\n

Once a miner finds a valid block hash, the miner who found it will broadcast it to the entire network of other miners\/nodes. The nodes will confirm that the block and its hash are valid. If they find it is valid, the block is added to their copy of the blockchain. <\/p>\n\n\n\n

The previous candidate block has now become a confirmed block. The miners now move on to the next block. The miners whose candidate blocks weren't successful discard it and repeat the process in hopes of having the next confirmed block.<\/p>\n","post_title":"Cryptocurrency Mining","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"cryptocurrency-mining","to_ping":"","pinged":"https:\/\/www.thedistributed.co\/what-are-nodes\/\nhttps:\/\/www.thedistributed.co\/what-is-a-cryptographic-nonce-a-number-only-used-once\/\nhttps:\/\/www.thedistributed.co\/what-is-a-mining-hashrate\/\nhttps:\/\/www.thedistributed.co\/what-is-a-mempool-cryptocurrency-memory-pool\/\nhttps:\/\/www.thedistributed.co\/what-is-a-blockchain-protocol\/\nhttps:\/\/www.thedistributed.co\/what-is-distributed-ledger-technology\/","post_modified":"2022-07-25 00:47:38","post_modified_gmt":"2022-07-24 14:47:38","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3527","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3471,"post_author":"1","post_date":"2022-02-15 20:49:02","post_date_gmt":"2022-02-15 09:49:02","post_content":"\n

A mining hashrate is the amount of processing power a miner or network has to process transactions onto a blockchains ledger<\/a>.<\/p>\n\n\n\n

The hashrate of a miner<\/a> refers to the number calculations a rig can solve per second, known as a hash. <\/p>\n\n\n\n

The hashrate of a network refers to the hash rates of all miners<\/a> on a specific network.<\/p>\n\n\n\n

Why Is Hashrate Important?<\/h2>\n\n\n\n

Hashrate can measure the health and security of a network against potential attackers. Having a higher hashrate means a 51% attack<\/a> is unlikely due to the high amount of computational power needed. The more computational power or nodes<\/a> within a network, the more secure it is.<\/p>\n\n\n\n

Hashrate is also a metric that can measure the profitability of miners. For a single mining device having a high hashrate means that you'll increase your compensation for the work you put in, giving you a better reward.<\/p>\n","post_title":"Mining Hashrate Explained","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"mining-hashrate","to_ping":"","pinged":"https:\/\/www.thedistributed.co\/what-is-a-51-attack-on-a-blockchain\/\nhttps:\/\/www.thedistributed.co\/what-are-nodes\/\nhttps:\/\/www.thedistributed.co\/what-is-distributed-ledger-technology\/","post_modified":"2022-06-02 22:17:31","post_modified_gmt":"2022-06-02 12:17:31","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3471","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3401,"post_author":"1","post_date":"2022-02-07 19:10:06","post_date_gmt":"2022-02-07 08:10:06","post_content":"\n

What Is SHA-256?<\/h2>\n\n\n\n

Securing Hashing Algorithm 256 (SHA-256) is the hashing algorithm used to secure blockchains such as Bitcoin, where the hashing function<\/a> emits a 256-bit wide output. <\/p>\n\n\n\n

The hashing algorithm is responsible for wallet address creation and management along with the verification of transactions on the blockchain ledger<\/a> through mining<\/a>. ((Bitcoin Wiki - SHA-256<\/a>))<\/p>\n\n\n\n

How Secure Is SHA-256?<\/h2>\n\n\n\n

SHA-256 is a variant of the SHA-2, which was initially developed by the National Security Agency.((Federal Register - Announcing Approval of Federal Information Processing Standard (FIPS) 180-2, Secure Hash Standard; a Revision of FIPS 180-1<\/a>)) This means that the inner workings of the algorithm aren't known to the public as it protects sensitive information belonging to the United States. <\/p>\n\n\n\n

It is practically impossible to reveal the initial data from a hash value as they are only one-way functions. <\/p>\n\n\n\n

Bitcoin utilizes a double SHA-256, meaning once they get the initial hash from the data, it is hashed once again - this creates an insurmountable amount of possible hashes basically eliminating the chance of a brute-force attack<\/a> as it would take 2^256 attempts to generate the initial data,((N-able - SHA-256 Algorithm Overview<\/a>)) more than the number of atoms in the universe.<\/p>\n","post_title":"SHA-256","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"sha-256","to_ping":"","pinged":"https:\/\/www.thedistributed.co\/what-is-a-51-attack-on-a-blockchain\/\nhttps:\/\/www.thedistributed.co\/what-is-distributed-ledger-technology\/\nhttps:\/\/www.thedistributed.co\/a-guide-to-cryptocurrency-mining\/","post_modified":"2022-07-31 23:20:17","post_modified_gmt":"2022-07-31 13:20:17","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3401","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

Most Read

Subscribe To Our Newsletter

By subscribing, you agree with our privacy and terms.

Follow The Distributed

Twitter Instagram Youtube LinkedIn Facebook RSS
ADVERTISEMENT
\n

Step 4 - Broadcast The Block<\/h3>\n\n\n\n

Once a miner finds a valid block hash, the miner who found it will broadcast it to the entire network of other miners\/nodes. The nodes will confirm that the block and its hash are valid. If they find it is valid, the block is added to their copy of the blockchain. <\/p>\n\n\n\n

The previous candidate block has now become a confirmed block. The miners now move on to the next block. The miners whose candidate blocks weren't successful discard it and repeat the process in hopes of having the next confirmed block.<\/p>\n","post_title":"Cryptocurrency Mining","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"cryptocurrency-mining","to_ping":"","pinged":"https:\/\/www.thedistributed.co\/what-are-nodes\/\nhttps:\/\/www.thedistributed.co\/what-is-a-cryptographic-nonce-a-number-only-used-once\/\nhttps:\/\/www.thedistributed.co\/what-is-a-mining-hashrate\/\nhttps:\/\/www.thedistributed.co\/what-is-a-mempool-cryptocurrency-memory-pool\/\nhttps:\/\/www.thedistributed.co\/what-is-a-blockchain-protocol\/\nhttps:\/\/www.thedistributed.co\/what-is-distributed-ledger-technology\/","post_modified":"2022-07-25 00:47:38","post_modified_gmt":"2022-07-24 14:47:38","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3527","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3471,"post_author":"1","post_date":"2022-02-15 20:49:02","post_date_gmt":"2022-02-15 09:49:02","post_content":"\n

A mining hashrate is the amount of processing power a miner or network has to process transactions onto a blockchains ledger<\/a>.<\/p>\n\n\n\n

The hashrate of a miner<\/a> refers to the number calculations a rig can solve per second, known as a hash. <\/p>\n\n\n\n

The hashrate of a network refers to the hash rates of all miners<\/a> on a specific network.<\/p>\n\n\n\n

Why Is Hashrate Important?<\/h2>\n\n\n\n

Hashrate can measure the health and security of a network against potential attackers. Having a higher hashrate means a 51% attack<\/a> is unlikely due to the high amount of computational power needed. The more computational power or nodes<\/a> within a network, the more secure it is.<\/p>\n\n\n\n

Hashrate is also a metric that can measure the profitability of miners. For a single mining device having a high hashrate means that you'll increase your compensation for the work you put in, giving you a better reward.<\/p>\n","post_title":"Mining Hashrate Explained","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"mining-hashrate","to_ping":"","pinged":"https:\/\/www.thedistributed.co\/what-is-a-51-attack-on-a-blockchain\/\nhttps:\/\/www.thedistributed.co\/what-are-nodes\/\nhttps:\/\/www.thedistributed.co\/what-is-distributed-ledger-technology\/","post_modified":"2022-06-02 22:17:31","post_modified_gmt":"2022-06-02 12:17:31","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3471","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3401,"post_author":"1","post_date":"2022-02-07 19:10:06","post_date_gmt":"2022-02-07 08:10:06","post_content":"\n

What Is SHA-256?<\/h2>\n\n\n\n

Securing Hashing Algorithm 256 (SHA-256) is the hashing algorithm used to secure blockchains such as Bitcoin, where the hashing function<\/a> emits a 256-bit wide output. <\/p>\n\n\n\n

The hashing algorithm is responsible for wallet address creation and management along with the verification of transactions on the blockchain ledger<\/a> through mining<\/a>. ((Bitcoin Wiki - SHA-256<\/a>))<\/p>\n\n\n\n

How Secure Is SHA-256?<\/h2>\n\n\n\n

SHA-256 is a variant of the SHA-2, which was initially developed by the National Security Agency.((Federal Register - Announcing Approval of Federal Information Processing Standard (FIPS) 180-2, Secure Hash Standard; a Revision of FIPS 180-1<\/a>)) This means that the inner workings of the algorithm aren't known to the public as it protects sensitive information belonging to the United States. <\/p>\n\n\n\n

It is practically impossible to reveal the initial data from a hash value as they are only one-way functions. <\/p>\n\n\n\n

Bitcoin utilizes a double SHA-256, meaning once they get the initial hash from the data, it is hashed once again - this creates an insurmountable amount of possible hashes basically eliminating the chance of a brute-force attack<\/a> as it would take 2^256 attempts to generate the initial data,((N-able - SHA-256 Algorithm Overview<\/a>)) more than the number of atoms in the universe.<\/p>\n","post_title":"SHA-256","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"sha-256","to_ping":"","pinged":"https:\/\/www.thedistributed.co\/what-is-a-51-attack-on-a-blockchain\/\nhttps:\/\/www.thedistributed.co\/what-is-distributed-ledger-technology\/\nhttps:\/\/www.thedistributed.co\/a-guide-to-cryptocurrency-mining\/","post_modified":"2022-07-31 23:20:17","post_modified_gmt":"2022-07-31 13:20:17","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3401","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

Most Read

Subscribe To Our Newsletter

By subscribing, you agree with our privacy and terms.

Follow The Distributed

Twitter Instagram Youtube LinkedIn Facebook RSS
ADVERTISEMENT
\n

This means as more miners join the network the hashing difficulty gets harder. Likewise, if miners leave the hashing difficulty is easier. Allowing for a steady flow of blocks being mined.<\/p>\n\n\n\n

Step 4 - Broadcast The Block<\/h3>\n\n\n\n

Once a miner finds a valid block hash, the miner who found it will broadcast it to the entire network of other miners\/nodes. The nodes will confirm that the block and its hash are valid. If they find it is valid, the block is added to their copy of the blockchain. <\/p>\n\n\n\n

The previous candidate block has now become a confirmed block. The miners now move on to the next block. The miners whose candidate blocks weren't successful discard it and repeat the process in hopes of having the next confirmed block.<\/p>\n","post_title":"Cryptocurrency Mining","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"cryptocurrency-mining","to_ping":"","pinged":"https:\/\/www.thedistributed.co\/what-are-nodes\/\nhttps:\/\/www.thedistributed.co\/what-is-a-cryptographic-nonce-a-number-only-used-once\/\nhttps:\/\/www.thedistributed.co\/what-is-a-mining-hashrate\/\nhttps:\/\/www.thedistributed.co\/what-is-a-mempool-cryptocurrency-memory-pool\/\nhttps:\/\/www.thedistributed.co\/what-is-a-blockchain-protocol\/\nhttps:\/\/www.thedistributed.co\/what-is-distributed-ledger-technology\/","post_modified":"2022-07-25 00:47:38","post_modified_gmt":"2022-07-24 14:47:38","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3527","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3471,"post_author":"1","post_date":"2022-02-15 20:49:02","post_date_gmt":"2022-02-15 09:49:02","post_content":"\n

A mining hashrate is the amount of processing power a miner or network has to process transactions onto a blockchains ledger<\/a>.<\/p>\n\n\n\n

The hashrate of a miner<\/a> refers to the number calculations a rig can solve per second, known as a hash. <\/p>\n\n\n\n

The hashrate of a network refers to the hash rates of all miners<\/a> on a specific network.<\/p>\n\n\n\n

Why Is Hashrate Important?<\/h2>\n\n\n\n

Hashrate can measure the health and security of a network against potential attackers. Having a higher hashrate means a 51% attack<\/a> is unlikely due to the high amount of computational power needed. The more computational power or nodes<\/a> within a network, the more secure it is.<\/p>\n\n\n\n

Hashrate is also a metric that can measure the profitability of miners. For a single mining device having a high hashrate means that you'll increase your compensation for the work you put in, giving you a better reward.<\/p>\n","post_title":"Mining Hashrate Explained","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"mining-hashrate","to_ping":"","pinged":"https:\/\/www.thedistributed.co\/what-is-a-51-attack-on-a-blockchain\/\nhttps:\/\/www.thedistributed.co\/what-are-nodes\/\nhttps:\/\/www.thedistributed.co\/what-is-distributed-ledger-technology\/","post_modified":"2022-06-02 22:17:31","post_modified_gmt":"2022-06-02 12:17:31","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3471","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3401,"post_author":"1","post_date":"2022-02-07 19:10:06","post_date_gmt":"2022-02-07 08:10:06","post_content":"\n

What Is SHA-256?<\/h2>\n\n\n\n

Securing Hashing Algorithm 256 (SHA-256) is the hashing algorithm used to secure blockchains such as Bitcoin, where the hashing function<\/a> emits a 256-bit wide output. <\/p>\n\n\n\n

The hashing algorithm is responsible for wallet address creation and management along with the verification of transactions on the blockchain ledger<\/a> through mining<\/a>. ((Bitcoin Wiki - SHA-256<\/a>))<\/p>\n\n\n\n

How Secure Is SHA-256?<\/h2>\n\n\n\n

SHA-256 is a variant of the SHA-2, which was initially developed by the National Security Agency.((Federal Register - Announcing Approval of Federal Information Processing Standard (FIPS) 180-2, Secure Hash Standard; a Revision of FIPS 180-1<\/a>)) This means that the inner workings of the algorithm aren't known to the public as it protects sensitive information belonging to the United States. <\/p>\n\n\n\n

It is practically impossible to reveal the initial data from a hash value as they are only one-way functions. <\/p>\n\n\n\n

Bitcoin utilizes a double SHA-256, meaning once they get the initial hash from the data, it is hashed once again - this creates an insurmountable amount of possible hashes basically eliminating the chance of a brute-force attack<\/a> as it would take 2^256 attempts to generate the initial data,((N-able - SHA-256 Algorithm Overview<\/a>)) more than the number of atoms in the universe.<\/p>\n","post_title":"SHA-256","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"sha-256","to_ping":"","pinged":"https:\/\/www.thedistributed.co\/what-is-a-51-attack-on-a-blockchain\/\nhttps:\/\/www.thedistributed.co\/what-is-distributed-ledger-technology\/\nhttps:\/\/www.thedistributed.co\/a-guide-to-cryptocurrency-mining\/","post_modified":"2022-07-31 23:20:17","post_modified_gmt":"2022-07-31 13:20:17","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3401","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

Most Read

Subscribe To Our Newsletter

By subscribing, you agree with our privacy and terms.

Follow The Distributed

Twitter Instagram Youtube LinkedIn Facebook RSS
ADVERTISEMENT
\n

This is what makes the issuance of new coins steady and predictable. The difficulty adjusts in proportion to the amount of computational power or mining hash rate<\/a> on to the network.<\/p>\n\n\n\n

This means as more miners join the network the hashing difficulty gets harder. Likewise, if miners leave the hashing difficulty is easier. Allowing for a steady flow of blocks being mined.<\/p>\n\n\n\n

Step 4 - Broadcast The Block<\/h3>\n\n\n\n

Once a miner finds a valid block hash, the miner who found it will broadcast it to the entire network of other miners\/nodes. The nodes will confirm that the block and its hash are valid. If they find it is valid, the block is added to their copy of the blockchain. <\/p>\n\n\n\n

The previous candidate block has now become a confirmed block. The miners now move on to the next block. The miners whose candidate blocks weren't successful discard it and repeat the process in hopes of having the next confirmed block.<\/p>\n","post_title":"Cryptocurrency Mining","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"cryptocurrency-mining","to_ping":"","pinged":"https:\/\/www.thedistributed.co\/what-are-nodes\/\nhttps:\/\/www.thedistributed.co\/what-is-a-cryptographic-nonce-a-number-only-used-once\/\nhttps:\/\/www.thedistributed.co\/what-is-a-mining-hashrate\/\nhttps:\/\/www.thedistributed.co\/what-is-a-mempool-cryptocurrency-memory-pool\/\nhttps:\/\/www.thedistributed.co\/what-is-a-blockchain-protocol\/\nhttps:\/\/www.thedistributed.co\/what-is-distributed-ledger-technology\/","post_modified":"2022-07-25 00:47:38","post_modified_gmt":"2022-07-24 14:47:38","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3527","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3471,"post_author":"1","post_date":"2022-02-15 20:49:02","post_date_gmt":"2022-02-15 09:49:02","post_content":"\n

A mining hashrate is the amount of processing power a miner or network has to process transactions onto a blockchains ledger<\/a>.<\/p>\n\n\n\n

The hashrate of a miner<\/a> refers to the number calculations a rig can solve per second, known as a hash. <\/p>\n\n\n\n

The hashrate of a network refers to the hash rates of all miners<\/a> on a specific network.<\/p>\n\n\n\n

Why Is Hashrate Important?<\/h2>\n\n\n\n

Hashrate can measure the health and security of a network against potential attackers. Having a higher hashrate means a 51% attack<\/a> is unlikely due to the high amount of computational power needed. The more computational power or nodes<\/a> within a network, the more secure it is.<\/p>\n\n\n\n

Hashrate is also a metric that can measure the profitability of miners. For a single mining device having a high hashrate means that you'll increase your compensation for the work you put in, giving you a better reward.<\/p>\n","post_title":"Mining Hashrate Explained","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"mining-hashrate","to_ping":"","pinged":"https:\/\/www.thedistributed.co\/what-is-a-51-attack-on-a-blockchain\/\nhttps:\/\/www.thedistributed.co\/what-are-nodes\/\nhttps:\/\/www.thedistributed.co\/what-is-distributed-ledger-technology\/","post_modified":"2022-06-02 22:17:31","post_modified_gmt":"2022-06-02 12:17:31","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3471","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3401,"post_author":"1","post_date":"2022-02-07 19:10:06","post_date_gmt":"2022-02-07 08:10:06","post_content":"\n

What Is SHA-256?<\/h2>\n\n\n\n

Securing Hashing Algorithm 256 (SHA-256) is the hashing algorithm used to secure blockchains such as Bitcoin, where the hashing function<\/a> emits a 256-bit wide output. <\/p>\n\n\n\n

The hashing algorithm is responsible for wallet address creation and management along with the verification of transactions on the blockchain ledger<\/a> through mining<\/a>. ((Bitcoin Wiki - SHA-256<\/a>))<\/p>\n\n\n\n

How Secure Is SHA-256?<\/h2>\n\n\n\n

SHA-256 is a variant of the SHA-2, which was initially developed by the National Security Agency.((Federal Register - Announcing Approval of Federal Information Processing Standard (FIPS) 180-2, Secure Hash Standard; a Revision of FIPS 180-1<\/a>)) This means that the inner workings of the algorithm aren't known to the public as it protects sensitive information belonging to the United States. <\/p>\n\n\n\n

It is practically impossible to reveal the initial data from a hash value as they are only one-way functions. <\/p>\n\n\n\n

Bitcoin utilizes a double SHA-256, meaning once they get the initial hash from the data, it is hashed once again - this creates an insurmountable amount of possible hashes basically eliminating the chance of a brute-force attack<\/a> as it would take 2^256 attempts to generate the initial data,((N-able - SHA-256 Algorithm Overview<\/a>)) more than the number of atoms in the universe.<\/p>\n","post_title":"SHA-256","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"sha-256","to_ping":"","pinged":"https:\/\/www.thedistributed.co\/what-is-a-51-attack-on-a-blockchain\/\nhttps:\/\/www.thedistributed.co\/what-is-distributed-ledger-technology\/\nhttps:\/\/www.thedistributed.co\/a-guide-to-cryptocurrency-mining\/","post_modified":"2022-07-31 23:20:17","post_modified_gmt":"2022-07-31 13:20:17","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3401","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

Most Read

Subscribe To Our Newsletter

By subscribing, you agree with our privacy and terms.

Follow The Distributed

Twitter Instagram Youtube LinkedIn Facebook RSS
ADVERTISEMENT
\n

The cryptocurrency mining difficulty is adjusted by the protocol regularly. This ensures that the rate at which new blocks are mined remains constant. <\/p>\n\n\n\n

This is what makes the issuance of new coins steady and predictable. The difficulty adjusts in proportion to the amount of computational power or mining hash rate<\/a> on to the network.<\/p>\n\n\n\n

This means as more miners join the network the hashing difficulty gets harder. Likewise, if miners leave the hashing difficulty is easier. Allowing for a steady flow of blocks being mined.<\/p>\n\n\n\n

Step 4 - Broadcast The Block<\/h3>\n\n\n\n

Once a miner finds a valid block hash, the miner who found it will broadcast it to the entire network of other miners\/nodes. The nodes will confirm that the block and its hash are valid. If they find it is valid, the block is added to their copy of the blockchain. <\/p>\n\n\n\n

The previous candidate block has now become a confirmed block. The miners now move on to the next block. The miners whose candidate blocks weren't successful discard it and repeat the process in hopes of having the next confirmed block.<\/p>\n","post_title":"Cryptocurrency Mining","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"cryptocurrency-mining","to_ping":"","pinged":"https:\/\/www.thedistributed.co\/what-are-nodes\/\nhttps:\/\/www.thedistributed.co\/what-is-a-cryptographic-nonce-a-number-only-used-once\/\nhttps:\/\/www.thedistributed.co\/what-is-a-mining-hashrate\/\nhttps:\/\/www.thedistributed.co\/what-is-a-mempool-cryptocurrency-memory-pool\/\nhttps:\/\/www.thedistributed.co\/what-is-a-blockchain-protocol\/\nhttps:\/\/www.thedistributed.co\/what-is-distributed-ledger-technology\/","post_modified":"2022-07-25 00:47:38","post_modified_gmt":"2022-07-24 14:47:38","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3527","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3471,"post_author":"1","post_date":"2022-02-15 20:49:02","post_date_gmt":"2022-02-15 09:49:02","post_content":"\n

A mining hashrate is the amount of processing power a miner or network has to process transactions onto a blockchains ledger<\/a>.<\/p>\n\n\n\n

The hashrate of a miner<\/a> refers to the number calculations a rig can solve per second, known as a hash. <\/p>\n\n\n\n

The hashrate of a network refers to the hash rates of all miners<\/a> on a specific network.<\/p>\n\n\n\n

Why Is Hashrate Important?<\/h2>\n\n\n\n

Hashrate can measure the health and security of a network against potential attackers. Having a higher hashrate means a 51% attack<\/a> is unlikely due to the high amount of computational power needed. The more computational power or nodes<\/a> within a network, the more secure it is.<\/p>\n\n\n\n

Hashrate is also a metric that can measure the profitability of miners. For a single mining device having a high hashrate means that you'll increase your compensation for the work you put in, giving you a better reward.<\/p>\n","post_title":"Mining Hashrate Explained","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"mining-hashrate","to_ping":"","pinged":"https:\/\/www.thedistributed.co\/what-is-a-51-attack-on-a-blockchain\/\nhttps:\/\/www.thedistributed.co\/what-are-nodes\/\nhttps:\/\/www.thedistributed.co\/what-is-distributed-ledger-technology\/","post_modified":"2022-06-02 22:17:31","post_modified_gmt":"2022-06-02 12:17:31","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3471","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3401,"post_author":"1","post_date":"2022-02-07 19:10:06","post_date_gmt":"2022-02-07 08:10:06","post_content":"\n

What Is SHA-256?<\/h2>\n\n\n\n

Securing Hashing Algorithm 256 (SHA-256) is the hashing algorithm used to secure blockchains such as Bitcoin, where the hashing function<\/a> emits a 256-bit wide output. <\/p>\n\n\n\n

The hashing algorithm is responsible for wallet address creation and management along with the verification of transactions on the blockchain ledger<\/a> through mining<\/a>. ((Bitcoin Wiki - SHA-256<\/a>))<\/p>\n\n\n\n

How Secure Is SHA-256?<\/h2>\n\n\n\n

SHA-256 is a variant of the SHA-2, which was initially developed by the National Security Agency.((Federal Register - Announcing Approval of Federal Information Processing Standard (FIPS) 180-2, Secure Hash Standard; a Revision of FIPS 180-1<\/a>)) This means that the inner workings of the algorithm aren't known to the public as it protects sensitive information belonging to the United States. <\/p>\n\n\n\n

It is practically impossible to reveal the initial data from a hash value as they are only one-way functions. <\/p>\n\n\n\n

Bitcoin utilizes a double SHA-256, meaning once they get the initial hash from the data, it is hashed once again - this creates an insurmountable amount of possible hashes basically eliminating the chance of a brute-force attack<\/a> as it would take 2^256 attempts to generate the initial data,((N-able - SHA-256 Algorithm Overview<\/a>)) more than the number of atoms in the universe.<\/p>\n","post_title":"SHA-256","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"sha-256","to_ping":"","pinged":"https:\/\/www.thedistributed.co\/what-is-a-51-attack-on-a-blockchain\/\nhttps:\/\/www.thedistributed.co\/what-is-distributed-ledger-technology\/\nhttps:\/\/www.thedistributed.co\/a-guide-to-cryptocurrency-mining\/","post_modified":"2022-07-31 23:20:17","post_modified_gmt":"2022-07-31 13:20:17","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3401","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

Most Read

Subscribe To Our Newsletter

By subscribing, you agree with our privacy and terms.

Follow The Distributed

Twitter Instagram Youtube LinkedIn Facebook RSS
ADVERTISEMENT
\n

What Is Mining Difficulty?<\/h4>\n\n\n\n

The cryptocurrency mining difficulty is adjusted by the protocol regularly. This ensures that the rate at which new blocks are mined remains constant. <\/p>\n\n\n\n

This is what makes the issuance of new coins steady and predictable. The difficulty adjusts in proportion to the amount of computational power or mining hash rate<\/a> on to the network.<\/p>\n\n\n\n

This means as more miners join the network the hashing difficulty gets harder. Likewise, if miners leave the hashing difficulty is easier. Allowing for a steady flow of blocks being mined.<\/p>\n\n\n\n

Step 4 - Broadcast The Block<\/h3>\n\n\n\n

Once a miner finds a valid block hash, the miner who found it will broadcast it to the entire network of other miners\/nodes. The nodes will confirm that the block and its hash are valid. If they find it is valid, the block is added to their copy of the blockchain. <\/p>\n\n\n\n

The previous candidate block has now become a confirmed block. The miners now move on to the next block. The miners whose candidate blocks weren't successful discard it and repeat the process in hopes of having the next confirmed block.<\/p>\n","post_title":"Cryptocurrency Mining","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"cryptocurrency-mining","to_ping":"","pinged":"https:\/\/www.thedistributed.co\/what-are-nodes\/\nhttps:\/\/www.thedistributed.co\/what-is-a-cryptographic-nonce-a-number-only-used-once\/\nhttps:\/\/www.thedistributed.co\/what-is-a-mining-hashrate\/\nhttps:\/\/www.thedistributed.co\/what-is-a-mempool-cryptocurrency-memory-pool\/\nhttps:\/\/www.thedistributed.co\/what-is-a-blockchain-protocol\/\nhttps:\/\/www.thedistributed.co\/what-is-distributed-ledger-technology\/","post_modified":"2022-07-25 00:47:38","post_modified_gmt":"2022-07-24 14:47:38","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3527","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3471,"post_author":"1","post_date":"2022-02-15 20:49:02","post_date_gmt":"2022-02-15 09:49:02","post_content":"\n

A mining hashrate is the amount of processing power a miner or network has to process transactions onto a blockchains ledger<\/a>.<\/p>\n\n\n\n

The hashrate of a miner<\/a> refers to the number calculations a rig can solve per second, known as a hash. <\/p>\n\n\n\n

The hashrate of a network refers to the hash rates of all miners<\/a> on a specific network.<\/p>\n\n\n\n

Why Is Hashrate Important?<\/h2>\n\n\n\n

Hashrate can measure the health and security of a network against potential attackers. Having a higher hashrate means a 51% attack<\/a> is unlikely due to the high amount of computational power needed. The more computational power or nodes<\/a> within a network, the more secure it is.<\/p>\n\n\n\n

Hashrate is also a metric that can measure the profitability of miners. For a single mining device having a high hashrate means that you'll increase your compensation for the work you put in, giving you a better reward.<\/p>\n","post_title":"Mining Hashrate Explained","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"mining-hashrate","to_ping":"","pinged":"https:\/\/www.thedistributed.co\/what-is-a-51-attack-on-a-blockchain\/\nhttps:\/\/www.thedistributed.co\/what-are-nodes\/\nhttps:\/\/www.thedistributed.co\/what-is-distributed-ledger-technology\/","post_modified":"2022-06-02 22:17:31","post_modified_gmt":"2022-06-02 12:17:31","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3471","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3401,"post_author":"1","post_date":"2022-02-07 19:10:06","post_date_gmt":"2022-02-07 08:10:06","post_content":"\n

What Is SHA-256?<\/h2>\n\n\n\n

Securing Hashing Algorithm 256 (SHA-256) is the hashing algorithm used to secure blockchains such as Bitcoin, where the hashing function<\/a> emits a 256-bit wide output. <\/p>\n\n\n\n

The hashing algorithm is responsible for wallet address creation and management along with the verification of transactions on the blockchain ledger<\/a> through mining<\/a>. ((Bitcoin Wiki - SHA-256<\/a>))<\/p>\n\n\n\n

How Secure Is SHA-256?<\/h2>\n\n\n\n

SHA-256 is a variant of the SHA-2, which was initially developed by the National Security Agency.((Federal Register - Announcing Approval of Federal Information Processing Standard (FIPS) 180-2, Secure Hash Standard; a Revision of FIPS 180-1<\/a>)) This means that the inner workings of the algorithm aren't known to the public as it protects sensitive information belonging to the United States. <\/p>\n\n\n\n

It is practically impossible to reveal the initial data from a hash value as they are only one-way functions. <\/p>\n\n\n\n

Bitcoin utilizes a double SHA-256, meaning once they get the initial hash from the data, it is hashed once again - this creates an insurmountable amount of possible hashes basically eliminating the chance of a brute-force attack<\/a> as it would take 2^256 attempts to generate the initial data,((N-able - SHA-256 Algorithm Overview<\/a>)) more than the number of atoms in the universe.<\/p>\n","post_title":"SHA-256","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"sha-256","to_ping":"","pinged":"https:\/\/www.thedistributed.co\/what-is-a-51-attack-on-a-blockchain\/\nhttps:\/\/www.thedistributed.co\/what-is-distributed-ledger-technology\/\nhttps:\/\/www.thedistributed.co\/a-guide-to-cryptocurrency-mining\/","post_modified":"2022-07-31 23:20:17","post_modified_gmt":"2022-07-31 13:20:17","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3401","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

Most Read

Subscribe To Our Newsletter

By subscribing, you agree with our privacy and terms.

Follow The Distributed

Twitter Instagram Youtube LinkedIn Facebook RSS
ADVERTISEMENT
\n

In order to be considered valid, the block hash must be less than a certain target value determined in the protocol<\/a>. In Bitcoin mining, the block hash must start with a certain number of zeros. This is what we call mining difficulty.<\/p>\n\n\n\n

What Is Mining Difficulty?<\/h4>\n\n\n\n

The cryptocurrency mining difficulty is adjusted by the protocol regularly. This ensures that the rate at which new blocks are mined remains constant. <\/p>\n\n\n\n

This is what makes the issuance of new coins steady and predictable. The difficulty adjusts in proportion to the amount of computational power or mining hash rate<\/a> on to the network.<\/p>\n\n\n\n

This means as more miners join the network the hashing difficulty gets harder. Likewise, if miners leave the hashing difficulty is easier. Allowing for a steady flow of blocks being mined.<\/p>\n\n\n\n

Step 4 - Broadcast The Block<\/h3>\n\n\n\n

Once a miner finds a valid block hash, the miner who found it will broadcast it to the entire network of other miners\/nodes. The nodes will confirm that the block and its hash are valid. If they find it is valid, the block is added to their copy of the blockchain. <\/p>\n\n\n\n

The previous candidate block has now become a confirmed block. The miners now move on to the next block. The miners whose candidate blocks weren't successful discard it and repeat the process in hopes of having the next confirmed block.<\/p>\n","post_title":"Cryptocurrency Mining","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"cryptocurrency-mining","to_ping":"","pinged":"https:\/\/www.thedistributed.co\/what-are-nodes\/\nhttps:\/\/www.thedistributed.co\/what-is-a-cryptographic-nonce-a-number-only-used-once\/\nhttps:\/\/www.thedistributed.co\/what-is-a-mining-hashrate\/\nhttps:\/\/www.thedistributed.co\/what-is-a-mempool-cryptocurrency-memory-pool\/\nhttps:\/\/www.thedistributed.co\/what-is-a-blockchain-protocol\/\nhttps:\/\/www.thedistributed.co\/what-is-distributed-ledger-technology\/","post_modified":"2022-07-25 00:47:38","post_modified_gmt":"2022-07-24 14:47:38","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3527","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3471,"post_author":"1","post_date":"2022-02-15 20:49:02","post_date_gmt":"2022-02-15 09:49:02","post_content":"\n

A mining hashrate is the amount of processing power a miner or network has to process transactions onto a blockchains ledger<\/a>.<\/p>\n\n\n\n

The hashrate of a miner<\/a> refers to the number calculations a rig can solve per second, known as a hash. <\/p>\n\n\n\n

The hashrate of a network refers to the hash rates of all miners<\/a> on a specific network.<\/p>\n\n\n\n

Why Is Hashrate Important?<\/h2>\n\n\n\n

Hashrate can measure the health and security of a network against potential attackers. Having a higher hashrate means a 51% attack<\/a> is unlikely due to the high amount of computational power needed. The more computational power or nodes<\/a> within a network, the more secure it is.<\/p>\n\n\n\n

Hashrate is also a metric that can measure the profitability of miners. For a single mining device having a high hashrate means that you'll increase your compensation for the work you put in, giving you a better reward.<\/p>\n","post_title":"Mining Hashrate Explained","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"mining-hashrate","to_ping":"","pinged":"https:\/\/www.thedistributed.co\/what-is-a-51-attack-on-a-blockchain\/\nhttps:\/\/www.thedistributed.co\/what-are-nodes\/\nhttps:\/\/www.thedistributed.co\/what-is-distributed-ledger-technology\/","post_modified":"2022-06-02 22:17:31","post_modified_gmt":"2022-06-02 12:17:31","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3471","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3401,"post_author":"1","post_date":"2022-02-07 19:10:06","post_date_gmt":"2022-02-07 08:10:06","post_content":"\n

What Is SHA-256?<\/h2>\n\n\n\n

Securing Hashing Algorithm 256 (SHA-256) is the hashing algorithm used to secure blockchains such as Bitcoin, where the hashing function<\/a> emits a 256-bit wide output. <\/p>\n\n\n\n

The hashing algorithm is responsible for wallet address creation and management along with the verification of transactions on the blockchain ledger<\/a> through mining<\/a>. ((Bitcoin Wiki - SHA-256<\/a>))<\/p>\n\n\n\n

How Secure Is SHA-256?<\/h2>\n\n\n\n

SHA-256 is a variant of the SHA-2, which was initially developed by the National Security Agency.((Federal Register - Announcing Approval of Federal Information Processing Standard (FIPS) 180-2, Secure Hash Standard; a Revision of FIPS 180-1<\/a>)) This means that the inner workings of the algorithm aren't known to the public as it protects sensitive information belonging to the United States. <\/p>\n\n\n\n

It is practically impossible to reveal the initial data from a hash value as they are only one-way functions. <\/p>\n\n\n\n

Bitcoin utilizes a double SHA-256, meaning once they get the initial hash from the data, it is hashed once again - this creates an insurmountable amount of possible hashes basically eliminating the chance of a brute-force attack<\/a> as it would take 2^256 attempts to generate the initial data,((N-able - SHA-256 Algorithm Overview<\/a>)) more than the number of atoms in the universe.<\/p>\n","post_title":"SHA-256","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"sha-256","to_ping":"","pinged":"https:\/\/www.thedistributed.co\/what-is-a-51-attack-on-a-blockchain\/\nhttps:\/\/www.thedistributed.co\/what-is-distributed-ledger-technology\/\nhttps:\/\/www.thedistributed.co\/a-guide-to-cryptocurrency-mining\/","post_modified":"2022-07-31 23:20:17","post_modified_gmt":"2022-07-31 13:20:17","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3401","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

Most Read

Subscribe To Our Newsletter

By subscribing, you agree with our privacy and terms.

Follow The Distributed

Twitter Instagram Youtube LinkedIn Facebook RSS
ADVERTISEMENT
\n

The nonce number is changed until a valid hash is found, as the hash of the previous block and the root hash cannot be changed.<\/p>\n\n\n\n

In order to be considered valid, the block hash must be less than a certain target value determined in the protocol<\/a>. In Bitcoin mining, the block hash must start with a certain number of zeros. This is what we call mining difficulty.<\/p>\n\n\n\n

What Is Mining Difficulty?<\/h4>\n\n\n\n

The cryptocurrency mining difficulty is adjusted by the protocol regularly. This ensures that the rate at which new blocks are mined remains constant. <\/p>\n\n\n\n

This is what makes the issuance of new coins steady and predictable. The difficulty adjusts in proportion to the amount of computational power or mining hash rate<\/a> on to the network.<\/p>\n\n\n\n

This means as more miners join the network the hashing difficulty gets harder. Likewise, if miners leave the hashing difficulty is easier. Allowing for a steady flow of blocks being mined.<\/p>\n\n\n\n

Step 4 - Broadcast The Block<\/h3>\n\n\n\n

Once a miner finds a valid block hash, the miner who found it will broadcast it to the entire network of other miners\/nodes. The nodes will confirm that the block and its hash are valid. If they find it is valid, the block is added to their copy of the blockchain. <\/p>\n\n\n\n

The previous candidate block has now become a confirmed block. The miners now move on to the next block. The miners whose candidate blocks weren't successful discard it and repeat the process in hopes of having the next confirmed block.<\/p>\n","post_title":"Cryptocurrency Mining","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"cryptocurrency-mining","to_ping":"","pinged":"https:\/\/www.thedistributed.co\/what-are-nodes\/\nhttps:\/\/www.thedistributed.co\/what-is-a-cryptographic-nonce-a-number-only-used-once\/\nhttps:\/\/www.thedistributed.co\/what-is-a-mining-hashrate\/\nhttps:\/\/www.thedistributed.co\/what-is-a-mempool-cryptocurrency-memory-pool\/\nhttps:\/\/www.thedistributed.co\/what-is-a-blockchain-protocol\/\nhttps:\/\/www.thedistributed.co\/what-is-distributed-ledger-technology\/","post_modified":"2022-07-25 00:47:38","post_modified_gmt":"2022-07-24 14:47:38","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3527","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3471,"post_author":"1","post_date":"2022-02-15 20:49:02","post_date_gmt":"2022-02-15 09:49:02","post_content":"\n

A mining hashrate is the amount of processing power a miner or network has to process transactions onto a blockchains ledger<\/a>.<\/p>\n\n\n\n

The hashrate of a miner<\/a> refers to the number calculations a rig can solve per second, known as a hash. <\/p>\n\n\n\n

The hashrate of a network refers to the hash rates of all miners<\/a> on a specific network.<\/p>\n\n\n\n

Why Is Hashrate Important?<\/h2>\n\n\n\n

Hashrate can measure the health and security of a network against potential attackers. Having a higher hashrate means a 51% attack<\/a> is unlikely due to the high amount of computational power needed. The more computational power or nodes<\/a> within a network, the more secure it is.<\/p>\n\n\n\n

Hashrate is also a metric that can measure the profitability of miners. For a single mining device having a high hashrate means that you'll increase your compensation for the work you put in, giving you a better reward.<\/p>\n","post_title":"Mining Hashrate Explained","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"mining-hashrate","to_ping":"","pinged":"https:\/\/www.thedistributed.co\/what-is-a-51-attack-on-a-blockchain\/\nhttps:\/\/www.thedistributed.co\/what-are-nodes\/\nhttps:\/\/www.thedistributed.co\/what-is-distributed-ledger-technology\/","post_modified":"2022-06-02 22:17:31","post_modified_gmt":"2022-06-02 12:17:31","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3471","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3401,"post_author":"1","post_date":"2022-02-07 19:10:06","post_date_gmt":"2022-02-07 08:10:06","post_content":"\n

What Is SHA-256?<\/h2>\n\n\n\n

Securing Hashing Algorithm 256 (SHA-256) is the hashing algorithm used to secure blockchains such as Bitcoin, where the hashing function<\/a> emits a 256-bit wide output. <\/p>\n\n\n\n

The hashing algorithm is responsible for wallet address creation and management along with the verification of transactions on the blockchain ledger<\/a> through mining<\/a>. ((Bitcoin Wiki - SHA-256<\/a>))<\/p>\n\n\n\n

How Secure Is SHA-256?<\/h2>\n\n\n\n

SHA-256 is a variant of the SHA-2, which was initially developed by the National Security Agency.((Federal Register - Announcing Approval of Federal Information Processing Standard (FIPS) 180-2, Secure Hash Standard; a Revision of FIPS 180-1<\/a>)) This means that the inner workings of the algorithm aren't known to the public as it protects sensitive information belonging to the United States. <\/p>\n\n\n\n

It is practically impossible to reveal the initial data from a hash value as they are only one-way functions. <\/p>\n\n\n\n

Bitcoin utilizes a double SHA-256, meaning once they get the initial hash from the data, it is hashed once again - this creates an insurmountable amount of possible hashes basically eliminating the chance of a brute-force attack<\/a> as it would take 2^256 attempts to generate the initial data,((N-able - SHA-256 Algorithm Overview<\/a>)) more than the number of atoms in the universe.<\/p>\n","post_title":"SHA-256","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"sha-256","to_ping":"","pinged":"https:\/\/www.thedistributed.co\/what-is-a-51-attack-on-a-blockchain\/\nhttps:\/\/www.thedistributed.co\/what-is-distributed-ledger-technology\/\nhttps:\/\/www.thedistributed.co\/a-guide-to-cryptocurrency-mining\/","post_modified":"2022-07-31 23:20:17","post_modified_gmt":"2022-07-31 13:20:17","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3401","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

Most Read

Subscribe To Our Newsletter

By subscribing, you agree with our privacy and terms.

Follow The Distributed

Twitter Instagram Youtube LinkedIn Facebook RSS
ADVERTISEMENT
\n

To create a valid block hash, a miner has to combine the hash of the previous block, with their root hash, and an arbitrary number called Nonce<\/a> (number used only once).<\/p>\n\n\n\n

The nonce number is changed until a valid hash is found, as the hash of the previous block and the root hash cannot be changed.<\/p>\n\n\n\n

In order to be considered valid, the block hash must be less than a certain target value determined in the protocol<\/a>. In Bitcoin mining, the block hash must start with a certain number of zeros. This is what we call mining difficulty.<\/p>\n\n\n\n

What Is Mining Difficulty?<\/h4>\n\n\n\n

The cryptocurrency mining difficulty is adjusted by the protocol regularly. This ensures that the rate at which new blocks are mined remains constant. <\/p>\n\n\n\n

This is what makes the issuance of new coins steady and predictable. The difficulty adjusts in proportion to the amount of computational power or mining hash rate<\/a> on to the network.<\/p>\n\n\n\n

This means as more miners join the network the hashing difficulty gets harder. Likewise, if miners leave the hashing difficulty is easier. Allowing for a steady flow of blocks being mined.<\/p>\n\n\n\n

Step 4 - Broadcast The Block<\/h3>\n\n\n\n

Once a miner finds a valid block hash, the miner who found it will broadcast it to the entire network of other miners\/nodes. The nodes will confirm that the block and its hash are valid. If they find it is valid, the block is added to their copy of the blockchain. <\/p>\n\n\n\n

The previous candidate block has now become a confirmed block. The miners now move on to the next block. The miners whose candidate blocks weren't successful discard it and repeat the process in hopes of having the next confirmed block.<\/p>\n","post_title":"Cryptocurrency Mining","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"cryptocurrency-mining","to_ping":"","pinged":"https:\/\/www.thedistributed.co\/what-are-nodes\/\nhttps:\/\/www.thedistributed.co\/what-is-a-cryptographic-nonce-a-number-only-used-once\/\nhttps:\/\/www.thedistributed.co\/what-is-a-mining-hashrate\/\nhttps:\/\/www.thedistributed.co\/what-is-a-mempool-cryptocurrency-memory-pool\/\nhttps:\/\/www.thedistributed.co\/what-is-a-blockchain-protocol\/\nhttps:\/\/www.thedistributed.co\/what-is-distributed-ledger-technology\/","post_modified":"2022-07-25 00:47:38","post_modified_gmt":"2022-07-24 14:47:38","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3527","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3471,"post_author":"1","post_date":"2022-02-15 20:49:02","post_date_gmt":"2022-02-15 09:49:02","post_content":"\n

A mining hashrate is the amount of processing power a miner or network has to process transactions onto a blockchains ledger<\/a>.<\/p>\n\n\n\n

The hashrate of a miner<\/a> refers to the number calculations a rig can solve per second, known as a hash. <\/p>\n\n\n\n

The hashrate of a network refers to the hash rates of all miners<\/a> on a specific network.<\/p>\n\n\n\n

Why Is Hashrate Important?<\/h2>\n\n\n\n

Hashrate can measure the health and security of a network against potential attackers. Having a higher hashrate means a 51% attack<\/a> is unlikely due to the high amount of computational power needed. The more computational power or nodes<\/a> within a network, the more secure it is.<\/p>\n\n\n\n

Hashrate is also a metric that can measure the profitability of miners. For a single mining device having a high hashrate means that you'll increase your compensation for the work you put in, giving you a better reward.<\/p>\n","post_title":"Mining Hashrate Explained","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"mining-hashrate","to_ping":"","pinged":"https:\/\/www.thedistributed.co\/what-is-a-51-attack-on-a-blockchain\/\nhttps:\/\/www.thedistributed.co\/what-are-nodes\/\nhttps:\/\/www.thedistributed.co\/what-is-distributed-ledger-technology\/","post_modified":"2022-06-02 22:17:31","post_modified_gmt":"2022-06-02 12:17:31","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3471","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3401,"post_author":"1","post_date":"2022-02-07 19:10:06","post_date_gmt":"2022-02-07 08:10:06","post_content":"\n

What Is SHA-256?<\/h2>\n\n\n\n

Securing Hashing Algorithm 256 (SHA-256) is the hashing algorithm used to secure blockchains such as Bitcoin, where the hashing function<\/a> emits a 256-bit wide output. <\/p>\n\n\n\n

The hashing algorithm is responsible for wallet address creation and management along with the verification of transactions on the blockchain ledger<\/a> through mining<\/a>. ((Bitcoin Wiki - SHA-256<\/a>))<\/p>\n\n\n\n

How Secure Is SHA-256?<\/h2>\n\n\n\n

SHA-256 is a variant of the SHA-2, which was initially developed by the National Security Agency.((Federal Register - Announcing Approval of Federal Information Processing Standard (FIPS) 180-2, Secure Hash Standard; a Revision of FIPS 180-1<\/a>)) This means that the inner workings of the algorithm aren't known to the public as it protects sensitive information belonging to the United States. <\/p>\n\n\n\n

It is practically impossible to reveal the initial data from a hash value as they are only one-way functions. <\/p>\n\n\n\n

Bitcoin utilizes a double SHA-256, meaning once they get the initial hash from the data, it is hashed once again - this creates an insurmountable amount of possible hashes basically eliminating the chance of a brute-force attack<\/a> as it would take 2^256 attempts to generate the initial data,((N-able - SHA-256 Algorithm Overview<\/a>)) more than the number of atoms in the universe.<\/p>\n","post_title":"SHA-256","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"sha-256","to_ping":"","pinged":"https:\/\/www.thedistributed.co\/what-is-a-51-attack-on-a-blockchain\/\nhttps:\/\/www.thedistributed.co\/what-is-distributed-ledger-technology\/\nhttps:\/\/www.thedistributed.co\/a-guide-to-cryptocurrency-mining\/","post_modified":"2022-07-31 23:20:17","post_modified_gmt":"2022-07-31 13:20:17","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3401","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

Most Read

Subscribe To Our Newsletter

By subscribing, you agree with our privacy and terms.

Follow The Distributed

Twitter Instagram Youtube LinkedIn Facebook RSS
ADVERTISEMENT
\n

Step 3 - Find A Valid Block Hash<\/h3>\n\n\n\n

To create a valid block hash, a miner has to combine the hash of the previous block, with their root hash, and an arbitrary number called Nonce<\/a> (number used only once).<\/p>\n\n\n\n

The nonce number is changed until a valid hash is found, as the hash of the previous block and the root hash cannot be changed.<\/p>\n\n\n\n

In order to be considered valid, the block hash must be less than a certain target value determined in the protocol<\/a>. In Bitcoin mining, the block hash must start with a certain number of zeros. This is what we call mining difficulty.<\/p>\n\n\n\n

What Is Mining Difficulty?<\/h4>\n\n\n\n

The cryptocurrency mining difficulty is adjusted by the protocol regularly. This ensures that the rate at which new blocks are mined remains constant. <\/p>\n\n\n\n

This is what makes the issuance of new coins steady and predictable. The difficulty adjusts in proportion to the amount of computational power or mining hash rate<\/a> on to the network.<\/p>\n\n\n\n

This means as more miners join the network the hashing difficulty gets harder. Likewise, if miners leave the hashing difficulty is easier. Allowing for a steady flow of blocks being mined.<\/p>\n\n\n\n

Step 4 - Broadcast The Block<\/h3>\n\n\n\n

Once a miner finds a valid block hash, the miner who found it will broadcast it to the entire network of other miners\/nodes. The nodes will confirm that the block and its hash are valid. If they find it is valid, the block is added to their copy of the blockchain. <\/p>\n\n\n\n

The previous candidate block has now become a confirmed block. The miners now move on to the next block. The miners whose candidate blocks weren't successful discard it and repeat the process in hopes of having the next confirmed block.<\/p>\n","post_title":"Cryptocurrency Mining","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"cryptocurrency-mining","to_ping":"","pinged":"https:\/\/www.thedistributed.co\/what-are-nodes\/\nhttps:\/\/www.thedistributed.co\/what-is-a-cryptographic-nonce-a-number-only-used-once\/\nhttps:\/\/www.thedistributed.co\/what-is-a-mining-hashrate\/\nhttps:\/\/www.thedistributed.co\/what-is-a-mempool-cryptocurrency-memory-pool\/\nhttps:\/\/www.thedistributed.co\/what-is-a-blockchain-protocol\/\nhttps:\/\/www.thedistributed.co\/what-is-distributed-ledger-technology\/","post_modified":"2022-07-25 00:47:38","post_modified_gmt":"2022-07-24 14:47:38","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3527","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3471,"post_author":"1","post_date":"2022-02-15 20:49:02","post_date_gmt":"2022-02-15 09:49:02","post_content":"\n

A mining hashrate is the amount of processing power a miner or network has to process transactions onto a blockchains ledger<\/a>.<\/p>\n\n\n\n

The hashrate of a miner<\/a> refers to the number calculations a rig can solve per second, known as a hash. <\/p>\n\n\n\n

The hashrate of a network refers to the hash rates of all miners<\/a> on a specific network.<\/p>\n\n\n\n

Why Is Hashrate Important?<\/h2>\n\n\n\n

Hashrate can measure the health and security of a network against potential attackers. Having a higher hashrate means a 51% attack<\/a> is unlikely due to the high amount of computational power needed. The more computational power or nodes<\/a> within a network, the more secure it is.<\/p>\n\n\n\n

Hashrate is also a metric that can measure the profitability of miners. For a single mining device having a high hashrate means that you'll increase your compensation for the work you put in, giving you a better reward.<\/p>\n","post_title":"Mining Hashrate Explained","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"mining-hashrate","to_ping":"","pinged":"https:\/\/www.thedistributed.co\/what-is-a-51-attack-on-a-blockchain\/\nhttps:\/\/www.thedistributed.co\/what-are-nodes\/\nhttps:\/\/www.thedistributed.co\/what-is-distributed-ledger-technology\/","post_modified":"2022-06-02 22:17:31","post_modified_gmt":"2022-06-02 12:17:31","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3471","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3401,"post_author":"1","post_date":"2022-02-07 19:10:06","post_date_gmt":"2022-02-07 08:10:06","post_content":"\n

What Is SHA-256?<\/h2>\n\n\n\n

Securing Hashing Algorithm 256 (SHA-256) is the hashing algorithm used to secure blockchains such as Bitcoin, where the hashing function<\/a> emits a 256-bit wide output. <\/p>\n\n\n\n

The hashing algorithm is responsible for wallet address creation and management along with the verification of transactions on the blockchain ledger<\/a> through mining<\/a>. ((Bitcoin Wiki - SHA-256<\/a>))<\/p>\n\n\n\n

How Secure Is SHA-256?<\/h2>\n\n\n\n

SHA-256 is a variant of the SHA-2, which was initially developed by the National Security Agency.((Federal Register - Announcing Approval of Federal Information Processing Standard (FIPS) 180-2, Secure Hash Standard; a Revision of FIPS 180-1<\/a>)) This means that the inner workings of the algorithm aren't known to the public as it protects sensitive information belonging to the United States. <\/p>\n\n\n\n

It is practically impossible to reveal the initial data from a hash value as they are only one-way functions. <\/p>\n\n\n\n

Bitcoin utilizes a double SHA-256, meaning once they get the initial hash from the data, it is hashed once again - this creates an insurmountable amount of possible hashes basically eliminating the chance of a brute-force attack<\/a> as it would take 2^256 attempts to generate the initial data,((N-able - SHA-256 Algorithm Overview<\/a>)) more than the number of atoms in the universe.<\/p>\n","post_title":"SHA-256","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"sha-256","to_ping":"","pinged":"https:\/\/www.thedistributed.co\/what-is-a-51-attack-on-a-blockchain\/\nhttps:\/\/www.thedistributed.co\/what-is-distributed-ledger-technology\/\nhttps:\/\/www.thedistributed.co\/a-guide-to-cryptocurrency-mining\/","post_modified":"2022-07-31 23:20:17","post_modified_gmt":"2022-07-31 13:20:17","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3401","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

Most Read

Subscribe To Our Newsletter

By subscribing, you agree with our privacy and terms.

Follow The Distributed

Twitter Instagram Youtube LinkedIn Facebook RSS
ADVERTISEMENT
\n
\"Merkle
Credit: bitcoininsider.com<\/figcaption><\/figure>\n\n\n\n

Step 3 - Find A Valid Block Hash<\/h3>\n\n\n\n

To create a valid block hash, a miner has to combine the hash of the previous block, with their root hash, and an arbitrary number called Nonce<\/a> (number used only once).<\/p>\n\n\n\n

The nonce number is changed until a valid hash is found, as the hash of the previous block and the root hash cannot be changed.<\/p>\n\n\n\n

In order to be considered valid, the block hash must be less than a certain target value determined in the protocol<\/a>. In Bitcoin mining, the block hash must start with a certain number of zeros. This is what we call mining difficulty.<\/p>\n\n\n\n

What Is Mining Difficulty?<\/h4>\n\n\n\n

The cryptocurrency mining difficulty is adjusted by the protocol regularly. This ensures that the rate at which new blocks are mined remains constant. <\/p>\n\n\n\n

This is what makes the issuance of new coins steady and predictable. The difficulty adjusts in proportion to the amount of computational power or mining hash rate<\/a> on to the network.<\/p>\n\n\n\n

This means as more miners join the network the hashing difficulty gets harder. Likewise, if miners leave the hashing difficulty is easier. Allowing for a steady flow of blocks being mined.<\/p>\n\n\n\n

Step 4 - Broadcast The Block<\/h3>\n\n\n\n

Once a miner finds a valid block hash, the miner who found it will broadcast it to the entire network of other miners\/nodes. The nodes will confirm that the block and its hash are valid. If they find it is valid, the block is added to their copy of the blockchain. <\/p>\n\n\n\n

The previous candidate block has now become a confirmed block. The miners now move on to the next block. The miners whose candidate blocks weren't successful discard it and repeat the process in hopes of having the next confirmed block.<\/p>\n","post_title":"Cryptocurrency Mining","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"cryptocurrency-mining","to_ping":"","pinged":"https:\/\/www.thedistributed.co\/what-are-nodes\/\nhttps:\/\/www.thedistributed.co\/what-is-a-cryptographic-nonce-a-number-only-used-once\/\nhttps:\/\/www.thedistributed.co\/what-is-a-mining-hashrate\/\nhttps:\/\/www.thedistributed.co\/what-is-a-mempool-cryptocurrency-memory-pool\/\nhttps:\/\/www.thedistributed.co\/what-is-a-blockchain-protocol\/\nhttps:\/\/www.thedistributed.co\/what-is-distributed-ledger-technology\/","post_modified":"2022-07-25 00:47:38","post_modified_gmt":"2022-07-24 14:47:38","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3527","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3471,"post_author":"1","post_date":"2022-02-15 20:49:02","post_date_gmt":"2022-02-15 09:49:02","post_content":"\n

A mining hashrate is the amount of processing power a miner or network has to process transactions onto a blockchains ledger<\/a>.<\/p>\n\n\n\n

The hashrate of a miner<\/a> refers to the number calculations a rig can solve per second, known as a hash. <\/p>\n\n\n\n

The hashrate of a network refers to the hash rates of all miners<\/a> on a specific network.<\/p>\n\n\n\n

Why Is Hashrate Important?<\/h2>\n\n\n\n

Hashrate can measure the health and security of a network against potential attackers. Having a higher hashrate means a 51% attack<\/a> is unlikely due to the high amount of computational power needed. The more computational power or nodes<\/a> within a network, the more secure it is.<\/p>\n\n\n\n

Hashrate is also a metric that can measure the profitability of miners. For a single mining device having a high hashrate means that you'll increase your compensation for the work you put in, giving you a better reward.<\/p>\n","post_title":"Mining Hashrate Explained","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"mining-hashrate","to_ping":"","pinged":"https:\/\/www.thedistributed.co\/what-is-a-51-attack-on-a-blockchain\/\nhttps:\/\/www.thedistributed.co\/what-are-nodes\/\nhttps:\/\/www.thedistributed.co\/what-is-distributed-ledger-technology\/","post_modified":"2022-06-02 22:17:31","post_modified_gmt":"2022-06-02 12:17:31","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3471","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3401,"post_author":"1","post_date":"2022-02-07 19:10:06","post_date_gmt":"2022-02-07 08:10:06","post_content":"\n

What Is SHA-256?<\/h2>\n\n\n\n

Securing Hashing Algorithm 256 (SHA-256) is the hashing algorithm used to secure blockchains such as Bitcoin, where the hashing function<\/a> emits a 256-bit wide output. <\/p>\n\n\n\n

The hashing algorithm is responsible for wallet address creation and management along with the verification of transactions on the blockchain ledger<\/a> through mining<\/a>. ((Bitcoin Wiki - SHA-256<\/a>))<\/p>\n\n\n\n

How Secure Is SHA-256?<\/h2>\n\n\n\n

SHA-256 is a variant of the SHA-2, which was initially developed by the National Security Agency.((Federal Register - Announcing Approval of Federal Information Processing Standard (FIPS) 180-2, Secure Hash Standard; a Revision of FIPS 180-1<\/a>)) This means that the inner workings of the algorithm aren't known to the public as it protects sensitive information belonging to the United States. <\/p>\n\n\n\n

It is practically impossible to reveal the initial data from a hash value as they are only one-way functions. <\/p>\n\n\n\n

Bitcoin utilizes a double SHA-256, meaning once they get the initial hash from the data, it is hashed once again - this creates an insurmountable amount of possible hashes basically eliminating the chance of a brute-force attack<\/a> as it would take 2^256 attempts to generate the initial data,((N-able - SHA-256 Algorithm Overview<\/a>)) more than the number of atoms in the universe.<\/p>\n","post_title":"SHA-256","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"sha-256","to_ping":"","pinged":"https:\/\/www.thedistributed.co\/what-is-a-51-attack-on-a-blockchain\/\nhttps:\/\/www.thedistributed.co\/what-is-distributed-ledger-technology\/\nhttps:\/\/www.thedistributed.co\/a-guide-to-cryptocurrency-mining\/","post_modified":"2022-07-31 23:20:17","post_modified_gmt":"2022-07-31 13:20:17","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3401","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

Most Read

Subscribe To Our Newsletter

By subscribing, you agree with our privacy and terms.

Follow The Distributed

Twitter Instagram Youtube LinkedIn Facebook RSS
ADVERTISEMENT
\n

This process links two transactions together, hashes them, and repeats the process over and over until all data is encoded under one singular hash, called the Merkle Root or Root Hash.<\/p>\n\n\n\n

\"Merkle
Credit: bitcoininsider.com<\/figcaption><\/figure>\n\n\n\n

Step 3 - Find A Valid Block Hash<\/h3>\n\n\n\n

To create a valid block hash, a miner has to combine the hash of the previous block, with their root hash, and an arbitrary number called Nonce<\/a> (number used only once).<\/p>\n\n\n\n

The nonce number is changed until a valid hash is found, as the hash of the previous block and the root hash cannot be changed.<\/p>\n\n\n\n

In order to be considered valid, the block hash must be less than a certain target value determined in the protocol<\/a>. In Bitcoin mining, the block hash must start with a certain number of zeros. This is what we call mining difficulty.<\/p>\n\n\n\n

What Is Mining Difficulty?<\/h4>\n\n\n\n

The cryptocurrency mining difficulty is adjusted by the protocol regularly. This ensures that the rate at which new blocks are mined remains constant. <\/p>\n\n\n\n

This is what makes the issuance of new coins steady and predictable. The difficulty adjusts in proportion to the amount of computational power or mining hash rate<\/a> on to the network.<\/p>\n\n\n\n

This means as more miners join the network the hashing difficulty gets harder. Likewise, if miners leave the hashing difficulty is easier. Allowing for a steady flow of blocks being mined.<\/p>\n\n\n\n

Step 4 - Broadcast The Block<\/h3>\n\n\n\n

Once a miner finds a valid block hash, the miner who found it will broadcast it to the entire network of other miners\/nodes. The nodes will confirm that the block and its hash are valid. If they find it is valid, the block is added to their copy of the blockchain. <\/p>\n\n\n\n

The previous candidate block has now become a confirmed block. The miners now move on to the next block. The miners whose candidate blocks weren't successful discard it and repeat the process in hopes of having the next confirmed block.<\/p>\n","post_title":"Cryptocurrency Mining","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"cryptocurrency-mining","to_ping":"","pinged":"https:\/\/www.thedistributed.co\/what-are-nodes\/\nhttps:\/\/www.thedistributed.co\/what-is-a-cryptographic-nonce-a-number-only-used-once\/\nhttps:\/\/www.thedistributed.co\/what-is-a-mining-hashrate\/\nhttps:\/\/www.thedistributed.co\/what-is-a-mempool-cryptocurrency-memory-pool\/\nhttps:\/\/www.thedistributed.co\/what-is-a-blockchain-protocol\/\nhttps:\/\/www.thedistributed.co\/what-is-distributed-ledger-technology\/","post_modified":"2022-07-25 00:47:38","post_modified_gmt":"2022-07-24 14:47:38","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3527","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3471,"post_author":"1","post_date":"2022-02-15 20:49:02","post_date_gmt":"2022-02-15 09:49:02","post_content":"\n

A mining hashrate is the amount of processing power a miner or network has to process transactions onto a blockchains ledger<\/a>.<\/p>\n\n\n\n

The hashrate of a miner<\/a> refers to the number calculations a rig can solve per second, known as a hash. <\/p>\n\n\n\n

The hashrate of a network refers to the hash rates of all miners<\/a> on a specific network.<\/p>\n\n\n\n

Why Is Hashrate Important?<\/h2>\n\n\n\n

Hashrate can measure the health and security of a network against potential attackers. Having a higher hashrate means a 51% attack<\/a> is unlikely due to the high amount of computational power needed. The more computational power or nodes<\/a> within a network, the more secure it is.<\/p>\n\n\n\n

Hashrate is also a metric that can measure the profitability of miners. For a single mining device having a high hashrate means that you'll increase your compensation for the work you put in, giving you a better reward.<\/p>\n","post_title":"Mining Hashrate Explained","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"mining-hashrate","to_ping":"","pinged":"https:\/\/www.thedistributed.co\/what-is-a-51-attack-on-a-blockchain\/\nhttps:\/\/www.thedistributed.co\/what-are-nodes\/\nhttps:\/\/www.thedistributed.co\/what-is-distributed-ledger-technology\/","post_modified":"2022-06-02 22:17:31","post_modified_gmt":"2022-06-02 12:17:31","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3471","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3401,"post_author":"1","post_date":"2022-02-07 19:10:06","post_date_gmt":"2022-02-07 08:10:06","post_content":"\n

What Is SHA-256?<\/h2>\n\n\n\n

Securing Hashing Algorithm 256 (SHA-256) is the hashing algorithm used to secure blockchains such as Bitcoin, where the hashing function<\/a> emits a 256-bit wide output. <\/p>\n\n\n\n

The hashing algorithm is responsible for wallet address creation and management along with the verification of transactions on the blockchain ledger<\/a> through mining<\/a>. ((Bitcoin Wiki - SHA-256<\/a>))<\/p>\n\n\n\n

How Secure Is SHA-256?<\/h2>\n\n\n\n

SHA-256 is a variant of the SHA-2, which was initially developed by the National Security Agency.((Federal Register - Announcing Approval of Federal Information Processing Standard (FIPS) 180-2, Secure Hash Standard; a Revision of FIPS 180-1<\/a>)) This means that the inner workings of the algorithm aren't known to the public as it protects sensitive information belonging to the United States. <\/p>\n\n\n\n

It is practically impossible to reveal the initial data from a hash value as they are only one-way functions. <\/p>\n\n\n\n

Bitcoin utilizes a double SHA-256, meaning once they get the initial hash from the data, it is hashed once again - this creates an insurmountable amount of possible hashes basically eliminating the chance of a brute-force attack<\/a> as it would take 2^256 attempts to generate the initial data,((N-able - SHA-256 Algorithm Overview<\/a>)) more than the number of atoms in the universe.<\/p>\n","post_title":"SHA-256","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"sha-256","to_ping":"","pinged":"https:\/\/www.thedistributed.co\/what-is-a-51-attack-on-a-blockchain\/\nhttps:\/\/www.thedistributed.co\/what-is-distributed-ledger-technology\/\nhttps:\/\/www.thedistributed.co\/a-guide-to-cryptocurrency-mining\/","post_modified":"2022-07-31 23:20:17","post_modified_gmt":"2022-07-31 13:20:17","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3401","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

Most Read

Subscribe To Our Newsletter

By subscribing, you agree with our privacy and terms.

Follow The Distributed

Twitter Instagram Youtube LinkedIn Facebook RSS
ADVERTISEMENT
\n

After transactions are hashed they're organized into a Merkle Tree or Hash Tree. <\/p>\n\n\n\n

This process links two transactions together, hashes them, and repeats the process over and over until all data is encoded under one singular hash, called the Merkle Root or Root Hash.<\/p>\n\n\n\n

\"Merkle
Credit: bitcoininsider.com<\/figcaption><\/figure>\n\n\n\n

Step 3 - Find A Valid Block Hash<\/h3>\n\n\n\n

To create a valid block hash, a miner has to combine the hash of the previous block, with their root hash, and an arbitrary number called Nonce<\/a> (number used only once).<\/p>\n\n\n\n

The nonce number is changed until a valid hash is found, as the hash of the previous block and the root hash cannot be changed.<\/p>\n\n\n\n

In order to be considered valid, the block hash must be less than a certain target value determined in the protocol<\/a>. In Bitcoin mining, the block hash must start with a certain number of zeros. This is what we call mining difficulty.<\/p>\n\n\n\n

What Is Mining Difficulty?<\/h4>\n\n\n\n

The cryptocurrency mining difficulty is adjusted by the protocol regularly. This ensures that the rate at which new blocks are mined remains constant. <\/p>\n\n\n\n

This is what makes the issuance of new coins steady and predictable. The difficulty adjusts in proportion to the amount of computational power or mining hash rate<\/a> on to the network.<\/p>\n\n\n\n

This means as more miners join the network the hashing difficulty gets harder. Likewise, if miners leave the hashing difficulty is easier. Allowing for a steady flow of blocks being mined.<\/p>\n\n\n\n

Step 4 - Broadcast The Block<\/h3>\n\n\n\n

Once a miner finds a valid block hash, the miner who found it will broadcast it to the entire network of other miners\/nodes. The nodes will confirm that the block and its hash are valid. If they find it is valid, the block is added to their copy of the blockchain. <\/p>\n\n\n\n

The previous candidate block has now become a confirmed block. The miners now move on to the next block. The miners whose candidate blocks weren't successful discard it and repeat the process in hopes of having the next confirmed block.<\/p>\n","post_title":"Cryptocurrency Mining","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"cryptocurrency-mining","to_ping":"","pinged":"https:\/\/www.thedistributed.co\/what-are-nodes\/\nhttps:\/\/www.thedistributed.co\/what-is-a-cryptographic-nonce-a-number-only-used-once\/\nhttps:\/\/www.thedistributed.co\/what-is-a-mining-hashrate\/\nhttps:\/\/www.thedistributed.co\/what-is-a-mempool-cryptocurrency-memory-pool\/\nhttps:\/\/www.thedistributed.co\/what-is-a-blockchain-protocol\/\nhttps:\/\/www.thedistributed.co\/what-is-distributed-ledger-technology\/","post_modified":"2022-07-25 00:47:38","post_modified_gmt":"2022-07-24 14:47:38","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3527","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3471,"post_author":"1","post_date":"2022-02-15 20:49:02","post_date_gmt":"2022-02-15 09:49:02","post_content":"\n

A mining hashrate is the amount of processing power a miner or network has to process transactions onto a blockchains ledger<\/a>.<\/p>\n\n\n\n

The hashrate of a miner<\/a> refers to the number calculations a rig can solve per second, known as a hash. <\/p>\n\n\n\n

The hashrate of a network refers to the hash rates of all miners<\/a> on a specific network.<\/p>\n\n\n\n

Why Is Hashrate Important?<\/h2>\n\n\n\n

Hashrate can measure the health and security of a network against potential attackers. Having a higher hashrate means a 51% attack<\/a> is unlikely due to the high amount of computational power needed. The more computational power or nodes<\/a> within a network, the more secure it is.<\/p>\n\n\n\n

Hashrate is also a metric that can measure the profitability of miners. For a single mining device having a high hashrate means that you'll increase your compensation for the work you put in, giving you a better reward.<\/p>\n","post_title":"Mining Hashrate Explained","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"mining-hashrate","to_ping":"","pinged":"https:\/\/www.thedistributed.co\/what-is-a-51-attack-on-a-blockchain\/\nhttps:\/\/www.thedistributed.co\/what-are-nodes\/\nhttps:\/\/www.thedistributed.co\/what-is-distributed-ledger-technology\/","post_modified":"2022-06-02 22:17:31","post_modified_gmt":"2022-06-02 12:17:31","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3471","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3401,"post_author":"1","post_date":"2022-02-07 19:10:06","post_date_gmt":"2022-02-07 08:10:06","post_content":"\n

What Is SHA-256?<\/h2>\n\n\n\n

Securing Hashing Algorithm 256 (SHA-256) is the hashing algorithm used to secure blockchains such as Bitcoin, where the hashing function<\/a> emits a 256-bit wide output. <\/p>\n\n\n\n

The hashing algorithm is responsible for wallet address creation and management along with the verification of transactions on the blockchain ledger<\/a> through mining<\/a>. ((Bitcoin Wiki - SHA-256<\/a>))<\/p>\n\n\n\n

How Secure Is SHA-256?<\/h2>\n\n\n\n

SHA-256 is a variant of the SHA-2, which was initially developed by the National Security Agency.((Federal Register - Announcing Approval of Federal Information Processing Standard (FIPS) 180-2, Secure Hash Standard; a Revision of FIPS 180-1<\/a>)) This means that the inner workings of the algorithm aren't known to the public as it protects sensitive information belonging to the United States. <\/p>\n\n\n\n

It is practically impossible to reveal the initial data from a hash value as they are only one-way functions. <\/p>\n\n\n\n

Bitcoin utilizes a double SHA-256, meaning once they get the initial hash from the data, it is hashed once again - this creates an insurmountable amount of possible hashes basically eliminating the chance of a brute-force attack<\/a> as it would take 2^256 attempts to generate the initial data,((N-able - SHA-256 Algorithm Overview<\/a>)) more than the number of atoms in the universe.<\/p>\n","post_title":"SHA-256","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"sha-256","to_ping":"","pinged":"https:\/\/www.thedistributed.co\/what-is-a-51-attack-on-a-blockchain\/\nhttps:\/\/www.thedistributed.co\/what-is-distributed-ledger-technology\/\nhttps:\/\/www.thedistributed.co\/a-guide-to-cryptocurrency-mining\/","post_modified":"2022-07-31 23:20:17","post_modified_gmt":"2022-07-31 13:20:17","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3401","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

Most Read

Subscribe To Our Newsletter

By subscribing, you agree with our privacy and terms.

Follow The Distributed

Twitter Instagram Youtube LinkedIn Facebook RSS
ADVERTISEMENT
\n

Step 2 - Create A Merkle Tree<\/h3>\n\n\n\n

After transactions are hashed they're organized into a Merkle Tree or Hash Tree. <\/p>\n\n\n\n

This process links two transactions together, hashes them, and repeats the process over and over until all data is encoded under one singular hash, called the Merkle Root or Root Hash.<\/p>\n\n\n\n

\"Merkle
Credit: bitcoininsider.com<\/figcaption><\/figure>\n\n\n\n

Step 3 - Find A Valid Block Hash<\/h3>\n\n\n\n

To create a valid block hash, a miner has to combine the hash of the previous block, with their root hash, and an arbitrary number called Nonce<\/a> (number used only once).<\/p>\n\n\n\n

The nonce number is changed until a valid hash is found, as the hash of the previous block and the root hash cannot be changed.<\/p>\n\n\n\n

In order to be considered valid, the block hash must be less than a certain target value determined in the protocol<\/a>. In Bitcoin mining, the block hash must start with a certain number of zeros. This is what we call mining difficulty.<\/p>\n\n\n\n

What Is Mining Difficulty?<\/h4>\n\n\n\n

The cryptocurrency mining difficulty is adjusted by the protocol regularly. This ensures that the rate at which new blocks are mined remains constant. <\/p>\n\n\n\n

This is what makes the issuance of new coins steady and predictable. The difficulty adjusts in proportion to the amount of computational power or mining hash rate<\/a> on to the network.<\/p>\n\n\n\n

This means as more miners join the network the hashing difficulty gets harder. Likewise, if miners leave the hashing difficulty is easier. Allowing for a steady flow of blocks being mined.<\/p>\n\n\n\n

Step 4 - Broadcast The Block<\/h3>\n\n\n\n

Once a miner finds a valid block hash, the miner who found it will broadcast it to the entire network of other miners\/nodes. The nodes will confirm that the block and its hash are valid. If they find it is valid, the block is added to their copy of the blockchain. <\/p>\n\n\n\n

The previous candidate block has now become a confirmed block. The miners now move on to the next block. The miners whose candidate blocks weren't successful discard it and repeat the process in hopes of having the next confirmed block.<\/p>\n","post_title":"Cryptocurrency Mining","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"cryptocurrency-mining","to_ping":"","pinged":"https:\/\/www.thedistributed.co\/what-are-nodes\/\nhttps:\/\/www.thedistributed.co\/what-is-a-cryptographic-nonce-a-number-only-used-once\/\nhttps:\/\/www.thedistributed.co\/what-is-a-mining-hashrate\/\nhttps:\/\/www.thedistributed.co\/what-is-a-mempool-cryptocurrency-memory-pool\/\nhttps:\/\/www.thedistributed.co\/what-is-a-blockchain-protocol\/\nhttps:\/\/www.thedistributed.co\/what-is-distributed-ledger-technology\/","post_modified":"2022-07-25 00:47:38","post_modified_gmt":"2022-07-24 14:47:38","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3527","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3471,"post_author":"1","post_date":"2022-02-15 20:49:02","post_date_gmt":"2022-02-15 09:49:02","post_content":"\n

A mining hashrate is the amount of processing power a miner or network has to process transactions onto a blockchains ledger<\/a>.<\/p>\n\n\n\n

The hashrate of a miner<\/a> refers to the number calculations a rig can solve per second, known as a hash. <\/p>\n\n\n\n

The hashrate of a network refers to the hash rates of all miners<\/a> on a specific network.<\/p>\n\n\n\n

Why Is Hashrate Important?<\/h2>\n\n\n\n

Hashrate can measure the health and security of a network against potential attackers. Having a higher hashrate means a 51% attack<\/a> is unlikely due to the high amount of computational power needed. The more computational power or nodes<\/a> within a network, the more secure it is.<\/p>\n\n\n\n

Hashrate is also a metric that can measure the profitability of miners. For a single mining device having a high hashrate means that you'll increase your compensation for the work you put in, giving you a better reward.<\/p>\n","post_title":"Mining Hashrate Explained","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"mining-hashrate","to_ping":"","pinged":"https:\/\/www.thedistributed.co\/what-is-a-51-attack-on-a-blockchain\/\nhttps:\/\/www.thedistributed.co\/what-are-nodes\/\nhttps:\/\/www.thedistributed.co\/what-is-distributed-ledger-technology\/","post_modified":"2022-06-02 22:17:31","post_modified_gmt":"2022-06-02 12:17:31","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3471","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3401,"post_author":"1","post_date":"2022-02-07 19:10:06","post_date_gmt":"2022-02-07 08:10:06","post_content":"\n

What Is SHA-256?<\/h2>\n\n\n\n

Securing Hashing Algorithm 256 (SHA-256) is the hashing algorithm used to secure blockchains such as Bitcoin, where the hashing function<\/a> emits a 256-bit wide output. <\/p>\n\n\n\n

The hashing algorithm is responsible for wallet address creation and management along with the verification of transactions on the blockchain ledger<\/a> through mining<\/a>. ((Bitcoin Wiki - SHA-256<\/a>))<\/p>\n\n\n\n

How Secure Is SHA-256?<\/h2>\n\n\n\n

SHA-256 is a variant of the SHA-2, which was initially developed by the National Security Agency.((Federal Register - Announcing Approval of Federal Information Processing Standard (FIPS) 180-2, Secure Hash Standard; a Revision of FIPS 180-1<\/a>)) This means that the inner workings of the algorithm aren't known to the public as it protects sensitive information belonging to the United States. <\/p>\n\n\n\n

It is practically impossible to reveal the initial data from a hash value as they are only one-way functions. <\/p>\n\n\n\n

Bitcoin utilizes a double SHA-256, meaning once they get the initial hash from the data, it is hashed once again - this creates an insurmountable amount of possible hashes basically eliminating the chance of a brute-force attack<\/a> as it would take 2^256 attempts to generate the initial data,((N-able - SHA-256 Algorithm Overview<\/a>)) more than the number of atoms in the universe.<\/p>\n","post_title":"SHA-256","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"sha-256","to_ping":"","pinged":"https:\/\/www.thedistributed.co\/what-is-a-51-attack-on-a-blockchain\/\nhttps:\/\/www.thedistributed.co\/what-is-distributed-ledger-technology\/\nhttps:\/\/www.thedistributed.co\/a-guide-to-cryptocurrency-mining\/","post_modified":"2022-07-31 23:20:17","post_modified_gmt":"2022-07-31 13:20:17","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3401","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

Most Read

Subscribe To Our Newsletter

By subscribing, you agree with our privacy and terms.

Follow The Distributed

Twitter Instagram Youtube LinkedIn Facebook RSS
ADVERTISEMENT
\n

Along with this, the miner will create a separate block with a transaction called the coinbase<\/em>. This separate block will give them their mining reward if their candidate block is successful, although it can contain any arbitrary data.((https:\/\/en.bitcoin.it\/wiki\/Coinbase))<\/p>\n\n\n\n

Step 2 - Create A Merkle Tree<\/h3>\n\n\n\n

After transactions are hashed they're organized into a Merkle Tree or Hash Tree. <\/p>\n\n\n\n

This process links two transactions together, hashes them, and repeats the process over and over until all data is encoded under one singular hash, called the Merkle Root or Root Hash.<\/p>\n\n\n\n

\"Merkle
Credit: bitcoininsider.com<\/figcaption><\/figure>\n\n\n\n

Step 3 - Find A Valid Block Hash<\/h3>\n\n\n\n

To create a valid block hash, a miner has to combine the hash of the previous block, with their root hash, and an arbitrary number called Nonce<\/a> (number used only once).<\/p>\n\n\n\n

The nonce number is changed until a valid hash is found, as the hash of the previous block and the root hash cannot be changed.<\/p>\n\n\n\n

In order to be considered valid, the block hash must be less than a certain target value determined in the protocol<\/a>. In Bitcoin mining, the block hash must start with a certain number of zeros. This is what we call mining difficulty.<\/p>\n\n\n\n

What Is Mining Difficulty?<\/h4>\n\n\n\n

The cryptocurrency mining difficulty is adjusted by the protocol regularly. This ensures that the rate at which new blocks are mined remains constant. <\/p>\n\n\n\n

This is what makes the issuance of new coins steady and predictable. The difficulty adjusts in proportion to the amount of computational power or mining hash rate<\/a> on to the network.<\/p>\n\n\n\n

This means as more miners join the network the hashing difficulty gets harder. Likewise, if miners leave the hashing difficulty is easier. Allowing for a steady flow of blocks being mined.<\/p>\n\n\n\n

Step 4 - Broadcast The Block<\/h3>\n\n\n\n

Once a miner finds a valid block hash, the miner who found it will broadcast it to the entire network of other miners\/nodes. The nodes will confirm that the block and its hash are valid. If they find it is valid, the block is added to their copy of the blockchain. <\/p>\n\n\n\n

The previous candidate block has now become a confirmed block. The miners now move on to the next block. The miners whose candidate blocks weren't successful discard it and repeat the process in hopes of having the next confirmed block.<\/p>\n","post_title":"Cryptocurrency Mining","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"cryptocurrency-mining","to_ping":"","pinged":"https:\/\/www.thedistributed.co\/what-are-nodes\/\nhttps:\/\/www.thedistributed.co\/what-is-a-cryptographic-nonce-a-number-only-used-once\/\nhttps:\/\/www.thedistributed.co\/what-is-a-mining-hashrate\/\nhttps:\/\/www.thedistributed.co\/what-is-a-mempool-cryptocurrency-memory-pool\/\nhttps:\/\/www.thedistributed.co\/what-is-a-blockchain-protocol\/\nhttps:\/\/www.thedistributed.co\/what-is-distributed-ledger-technology\/","post_modified":"2022-07-25 00:47:38","post_modified_gmt":"2022-07-24 14:47:38","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3527","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3471,"post_author":"1","post_date":"2022-02-15 20:49:02","post_date_gmt":"2022-02-15 09:49:02","post_content":"\n

A mining hashrate is the amount of processing power a miner or network has to process transactions onto a blockchains ledger<\/a>.<\/p>\n\n\n\n

The hashrate of a miner<\/a> refers to the number calculations a rig can solve per second, known as a hash. <\/p>\n\n\n\n

The hashrate of a network refers to the hash rates of all miners<\/a> on a specific network.<\/p>\n\n\n\n

Why Is Hashrate Important?<\/h2>\n\n\n\n

Hashrate can measure the health and security of a network against potential attackers. Having a higher hashrate means a 51% attack<\/a> is unlikely due to the high amount of computational power needed. The more computational power or nodes<\/a> within a network, the more secure it is.<\/p>\n\n\n\n

Hashrate is also a metric that can measure the profitability of miners. For a single mining device having a high hashrate means that you'll increase your compensation for the work you put in, giving you a better reward.<\/p>\n","post_title":"Mining Hashrate Explained","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"mining-hashrate","to_ping":"","pinged":"https:\/\/www.thedistributed.co\/what-is-a-51-attack-on-a-blockchain\/\nhttps:\/\/www.thedistributed.co\/what-are-nodes\/\nhttps:\/\/www.thedistributed.co\/what-is-distributed-ledger-technology\/","post_modified":"2022-06-02 22:17:31","post_modified_gmt":"2022-06-02 12:17:31","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3471","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3401,"post_author":"1","post_date":"2022-02-07 19:10:06","post_date_gmt":"2022-02-07 08:10:06","post_content":"\n

What Is SHA-256?<\/h2>\n\n\n\n

Securing Hashing Algorithm 256 (SHA-256) is the hashing algorithm used to secure blockchains such as Bitcoin, where the hashing function<\/a> emits a 256-bit wide output. <\/p>\n\n\n\n

The hashing algorithm is responsible for wallet address creation and management along with the verification of transactions on the blockchain ledger<\/a> through mining<\/a>. ((Bitcoin Wiki - SHA-256<\/a>))<\/p>\n\n\n\n

How Secure Is SHA-256?<\/h2>\n\n\n\n

SHA-256 is a variant of the SHA-2, which was initially developed by the National Security Agency.((Federal Register - Announcing Approval of Federal Information Processing Standard (FIPS) 180-2, Secure Hash Standard; a Revision of FIPS 180-1<\/a>)) This means that the inner workings of the algorithm aren't known to the public as it protects sensitive information belonging to the United States. <\/p>\n\n\n\n

It is practically impossible to reveal the initial data from a hash value as they are only one-way functions. <\/p>\n\n\n\n

Bitcoin utilizes a double SHA-256, meaning once they get the initial hash from the data, it is hashed once again - this creates an insurmountable amount of possible hashes basically eliminating the chance of a brute-force attack<\/a> as it would take 2^256 attempts to generate the initial data,((N-able - SHA-256 Algorithm Overview<\/a>)) more than the number of atoms in the universe.<\/p>\n","post_title":"SHA-256","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"sha-256","to_ping":"","pinged":"https:\/\/www.thedistributed.co\/what-is-a-51-attack-on-a-blockchain\/\nhttps:\/\/www.thedistributed.co\/what-is-distributed-ledger-technology\/\nhttps:\/\/www.thedistributed.co\/a-guide-to-cryptocurrency-mining\/","post_modified":"2022-07-31 23:20:17","post_modified_gmt":"2022-07-31 13:20:17","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3401","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

Most Read

Subscribe To Our Newsletter

By subscribing, you agree with our privacy and terms.

Follow The Distributed

Twitter Instagram Youtube LinkedIn Facebook RSS
ADVERTISEMENT
\n

A miner will take transactions from their memory pool, and put them through a hash function. A hash function turns any piece of data, no matter how big into a fixed size, called a hash. In this context, all of the data of the transaction is turned into a 'transaction hash'.<\/p>\n\n\n\n

Along with this, the miner will create a separate block with a transaction called the coinbase<\/em>. This separate block will give them their mining reward if their candidate block is successful, although it can contain any arbitrary data.((https:\/\/en.bitcoin.it\/wiki\/Coinbase))<\/p>\n\n\n\n

Step 2 - Create A Merkle Tree<\/h3>\n\n\n\n

After transactions are hashed they're organized into a Merkle Tree or Hash Tree. <\/p>\n\n\n\n

This process links two transactions together, hashes them, and repeats the process over and over until all data is encoded under one singular hash, called the Merkle Root or Root Hash.<\/p>\n\n\n\n

\"Merkle
Credit: bitcoininsider.com<\/figcaption><\/figure>\n\n\n\n

Step 3 - Find A Valid Block Hash<\/h3>\n\n\n\n

To create a valid block hash, a miner has to combine the hash of the previous block, with their root hash, and an arbitrary number called Nonce<\/a> (number used only once).<\/p>\n\n\n\n

The nonce number is changed until a valid hash is found, as the hash of the previous block and the root hash cannot be changed.<\/p>\n\n\n\n

In order to be considered valid, the block hash must be less than a certain target value determined in the protocol<\/a>. In Bitcoin mining, the block hash must start with a certain number of zeros. This is what we call mining difficulty.<\/p>\n\n\n\n

What Is Mining Difficulty?<\/h4>\n\n\n\n

The cryptocurrency mining difficulty is adjusted by the protocol regularly. This ensures that the rate at which new blocks are mined remains constant. <\/p>\n\n\n\n

This is what makes the issuance of new coins steady and predictable. The difficulty adjusts in proportion to the amount of computational power or mining hash rate<\/a> on to the network.<\/p>\n\n\n\n

This means as more miners join the network the hashing difficulty gets harder. Likewise, if miners leave the hashing difficulty is easier. Allowing for a steady flow of blocks being mined.<\/p>\n\n\n\n

Step 4 - Broadcast The Block<\/h3>\n\n\n\n

Once a miner finds a valid block hash, the miner who found it will broadcast it to the entire network of other miners\/nodes. The nodes will confirm that the block and its hash are valid. If they find it is valid, the block is added to their copy of the blockchain. <\/p>\n\n\n\n

The previous candidate block has now become a confirmed block. The miners now move on to the next block. The miners whose candidate blocks weren't successful discard it and repeat the process in hopes of having the next confirmed block.<\/p>\n","post_title":"Cryptocurrency Mining","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"cryptocurrency-mining","to_ping":"","pinged":"https:\/\/www.thedistributed.co\/what-are-nodes\/\nhttps:\/\/www.thedistributed.co\/what-is-a-cryptographic-nonce-a-number-only-used-once\/\nhttps:\/\/www.thedistributed.co\/what-is-a-mining-hashrate\/\nhttps:\/\/www.thedistributed.co\/what-is-a-mempool-cryptocurrency-memory-pool\/\nhttps:\/\/www.thedistributed.co\/what-is-a-blockchain-protocol\/\nhttps:\/\/www.thedistributed.co\/what-is-distributed-ledger-technology\/","post_modified":"2022-07-25 00:47:38","post_modified_gmt":"2022-07-24 14:47:38","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3527","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3471,"post_author":"1","post_date":"2022-02-15 20:49:02","post_date_gmt":"2022-02-15 09:49:02","post_content":"\n

A mining hashrate is the amount of processing power a miner or network has to process transactions onto a blockchains ledger<\/a>.<\/p>\n\n\n\n

The hashrate of a miner<\/a> refers to the number calculations a rig can solve per second, known as a hash. <\/p>\n\n\n\n

The hashrate of a network refers to the hash rates of all miners<\/a> on a specific network.<\/p>\n\n\n\n

Why Is Hashrate Important?<\/h2>\n\n\n\n

Hashrate can measure the health and security of a network against potential attackers. Having a higher hashrate means a 51% attack<\/a> is unlikely due to the high amount of computational power needed. The more computational power or nodes<\/a> within a network, the more secure it is.<\/p>\n\n\n\n

Hashrate is also a metric that can measure the profitability of miners. For a single mining device having a high hashrate means that you'll increase your compensation for the work you put in, giving you a better reward.<\/p>\n","post_title":"Mining Hashrate Explained","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"mining-hashrate","to_ping":"","pinged":"https:\/\/www.thedistributed.co\/what-is-a-51-attack-on-a-blockchain\/\nhttps:\/\/www.thedistributed.co\/what-are-nodes\/\nhttps:\/\/www.thedistributed.co\/what-is-distributed-ledger-technology\/","post_modified":"2022-06-02 22:17:31","post_modified_gmt":"2022-06-02 12:17:31","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3471","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3401,"post_author":"1","post_date":"2022-02-07 19:10:06","post_date_gmt":"2022-02-07 08:10:06","post_content":"\n

What Is SHA-256?<\/h2>\n\n\n\n

Securing Hashing Algorithm 256 (SHA-256) is the hashing algorithm used to secure blockchains such as Bitcoin, where the hashing function<\/a> emits a 256-bit wide output. <\/p>\n\n\n\n

The hashing algorithm is responsible for wallet address creation and management along with the verification of transactions on the blockchain ledger<\/a> through mining<\/a>. ((Bitcoin Wiki - SHA-256<\/a>))<\/p>\n\n\n\n

How Secure Is SHA-256?<\/h2>\n\n\n\n

SHA-256 is a variant of the SHA-2, which was initially developed by the National Security Agency.((Federal Register - Announcing Approval of Federal Information Processing Standard (FIPS) 180-2, Secure Hash Standard; a Revision of FIPS 180-1<\/a>)) This means that the inner workings of the algorithm aren't known to the public as it protects sensitive information belonging to the United States. <\/p>\n\n\n\n

It is practically impossible to reveal the initial data from a hash value as they are only one-way functions. <\/p>\n\n\n\n

Bitcoin utilizes a double SHA-256, meaning once they get the initial hash from the data, it is hashed once again - this creates an insurmountable amount of possible hashes basically eliminating the chance of a brute-force attack<\/a> as it would take 2^256 attempts to generate the initial data,((N-able - SHA-256 Algorithm Overview<\/a>)) more than the number of atoms in the universe.<\/p>\n","post_title":"SHA-256","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"sha-256","to_ping":"","pinged":"https:\/\/www.thedistributed.co\/what-is-a-51-attack-on-a-blockchain\/\nhttps:\/\/www.thedistributed.co\/what-is-distributed-ledger-technology\/\nhttps:\/\/www.thedistributed.co\/a-guide-to-cryptocurrency-mining\/","post_modified":"2022-07-31 23:20:17","post_modified_gmt":"2022-07-31 13:20:17","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3401","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

Most Read

Subscribe To Our Newsletter

By subscribing, you agree with our privacy and terms.

Follow The Distributed

Twitter Instagram Youtube LinkedIn Facebook RSS
ADVERTISEMENT
\n

Step 1 - Hashing Transactions<\/h3>\n\n\n\n

A miner will take transactions from their memory pool, and put them through a hash function. A hash function turns any piece of data, no matter how big into a fixed size, called a hash. In this context, all of the data of the transaction is turned into a 'transaction hash'.<\/p>\n\n\n\n

Along with this, the miner will create a separate block with a transaction called the coinbase<\/em>. This separate block will give them their mining reward if their candidate block is successful, although it can contain any arbitrary data.((https:\/\/en.bitcoin.it\/wiki\/Coinbase))<\/p>\n\n\n\n

Step 2 - Create A Merkle Tree<\/h3>\n\n\n\n

After transactions are hashed they're organized into a Merkle Tree or Hash Tree. <\/p>\n\n\n\n

This process links two transactions together, hashes them, and repeats the process over and over until all data is encoded under one singular hash, called the Merkle Root or Root Hash.<\/p>\n\n\n\n

\"Merkle
Credit: bitcoininsider.com<\/figcaption><\/figure>\n\n\n\n

Step 3 - Find A Valid Block Hash<\/h3>\n\n\n\n

To create a valid block hash, a miner has to combine the hash of the previous block, with their root hash, and an arbitrary number called Nonce<\/a> (number used only once).<\/p>\n\n\n\n

The nonce number is changed until a valid hash is found, as the hash of the previous block and the root hash cannot be changed.<\/p>\n\n\n\n

In order to be considered valid, the block hash must be less than a certain target value determined in the protocol<\/a>. In Bitcoin mining, the block hash must start with a certain number of zeros. This is what we call mining difficulty.<\/p>\n\n\n\n

What Is Mining Difficulty?<\/h4>\n\n\n\n

The cryptocurrency mining difficulty is adjusted by the protocol regularly. This ensures that the rate at which new blocks are mined remains constant. <\/p>\n\n\n\n

This is what makes the issuance of new coins steady and predictable. The difficulty adjusts in proportion to the amount of computational power or mining hash rate<\/a> on to the network.<\/p>\n\n\n\n

This means as more miners join the network the hashing difficulty gets harder. Likewise, if miners leave the hashing difficulty is easier. Allowing for a steady flow of blocks being mined.<\/p>\n\n\n\n

Step 4 - Broadcast The Block<\/h3>\n\n\n\n

Once a miner finds a valid block hash, the miner who found it will broadcast it to the entire network of other miners\/nodes. The nodes will confirm that the block and its hash are valid. If they find it is valid, the block is added to their copy of the blockchain. <\/p>\n\n\n\n

The previous candidate block has now become a confirmed block. The miners now move on to the next block. The miners whose candidate blocks weren't successful discard it and repeat the process in hopes of having the next confirmed block.<\/p>\n","post_title":"Cryptocurrency Mining","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"cryptocurrency-mining","to_ping":"","pinged":"https:\/\/www.thedistributed.co\/what-are-nodes\/\nhttps:\/\/www.thedistributed.co\/what-is-a-cryptographic-nonce-a-number-only-used-once\/\nhttps:\/\/www.thedistributed.co\/what-is-a-mining-hashrate\/\nhttps:\/\/www.thedistributed.co\/what-is-a-mempool-cryptocurrency-memory-pool\/\nhttps:\/\/www.thedistributed.co\/what-is-a-blockchain-protocol\/\nhttps:\/\/www.thedistributed.co\/what-is-distributed-ledger-technology\/","post_modified":"2022-07-25 00:47:38","post_modified_gmt":"2022-07-24 14:47:38","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3527","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3471,"post_author":"1","post_date":"2022-02-15 20:49:02","post_date_gmt":"2022-02-15 09:49:02","post_content":"\n

A mining hashrate is the amount of processing power a miner or network has to process transactions onto a blockchains ledger<\/a>.<\/p>\n\n\n\n

The hashrate of a miner<\/a> refers to the number calculations a rig can solve per second, known as a hash. <\/p>\n\n\n\n

The hashrate of a network refers to the hash rates of all miners<\/a> on a specific network.<\/p>\n\n\n\n

Why Is Hashrate Important?<\/h2>\n\n\n\n

Hashrate can measure the health and security of a network against potential attackers. Having a higher hashrate means a 51% attack<\/a> is unlikely due to the high amount of computational power needed. The more computational power or nodes<\/a> within a network, the more secure it is.<\/p>\n\n\n\n

Hashrate is also a metric that can measure the profitability of miners. For a single mining device having a high hashrate means that you'll increase your compensation for the work you put in, giving you a better reward.<\/p>\n","post_title":"Mining Hashrate Explained","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"mining-hashrate","to_ping":"","pinged":"https:\/\/www.thedistributed.co\/what-is-a-51-attack-on-a-blockchain\/\nhttps:\/\/www.thedistributed.co\/what-are-nodes\/\nhttps:\/\/www.thedistributed.co\/what-is-distributed-ledger-technology\/","post_modified":"2022-06-02 22:17:31","post_modified_gmt":"2022-06-02 12:17:31","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3471","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3401,"post_author":"1","post_date":"2022-02-07 19:10:06","post_date_gmt":"2022-02-07 08:10:06","post_content":"\n

What Is SHA-256?<\/h2>\n\n\n\n

Securing Hashing Algorithm 256 (SHA-256) is the hashing algorithm used to secure blockchains such as Bitcoin, where the hashing function<\/a> emits a 256-bit wide output. <\/p>\n\n\n\n

The hashing algorithm is responsible for wallet address creation and management along with the verification of transactions on the blockchain ledger<\/a> through mining<\/a>. ((Bitcoin Wiki - SHA-256<\/a>))<\/p>\n\n\n\n

How Secure Is SHA-256?<\/h2>\n\n\n\n

SHA-256 is a variant of the SHA-2, which was initially developed by the National Security Agency.((Federal Register - Announcing Approval of Federal Information Processing Standard (FIPS) 180-2, Secure Hash Standard; a Revision of FIPS 180-1<\/a>)) This means that the inner workings of the algorithm aren't known to the public as it protects sensitive information belonging to the United States. <\/p>\n\n\n\n

It is practically impossible to reveal the initial data from a hash value as they are only one-way functions. <\/p>\n\n\n\n

Bitcoin utilizes a double SHA-256, meaning once they get the initial hash from the data, it is hashed once again - this creates an insurmountable amount of possible hashes basically eliminating the chance of a brute-force attack<\/a> as it would take 2^256 attempts to generate the initial data,((N-able - SHA-256 Algorithm Overview<\/a>)) more than the number of atoms in the universe.<\/p>\n","post_title":"SHA-256","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"sha-256","to_ping":"","pinged":"https:\/\/www.thedistributed.co\/what-is-a-51-attack-on-a-blockchain\/\nhttps:\/\/www.thedistributed.co\/what-is-distributed-ledger-technology\/\nhttps:\/\/www.thedistributed.co\/a-guide-to-cryptocurrency-mining\/","post_modified":"2022-07-31 23:20:17","post_modified_gmt":"2022-07-31 13:20:17","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3401","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

Most Read

Subscribe To Our Newsletter

By subscribing, you agree with our privacy and terms.

Follow The Distributed

Twitter Instagram Youtube LinkedIn Facebook RSS
ADVERTISEMENT
\n

Once in the memory pool, transactions are put into a candidate block<\/a>. If the miner is successful with the following steps the candidate block is added to the blockchain, giving this miner a reward for their efforts.<\/p>\n\n\n\n

Step 1 - Hashing Transactions<\/h3>\n\n\n\n

A miner will take transactions from their memory pool, and put them through a hash function. A hash function turns any piece of data, no matter how big into a fixed size, called a hash. In this context, all of the data of the transaction is turned into a 'transaction hash'.<\/p>\n\n\n\n

Along with this, the miner will create a separate block with a transaction called the coinbase<\/em>. This separate block will give them their mining reward if their candidate block is successful, although it can contain any arbitrary data.((https:\/\/en.bitcoin.it\/wiki\/Coinbase))<\/p>\n\n\n\n

Step 2 - Create A Merkle Tree<\/h3>\n\n\n\n

After transactions are hashed they're organized into a Merkle Tree or Hash Tree. <\/p>\n\n\n\n

This process links two transactions together, hashes them, and repeats the process over and over until all data is encoded under one singular hash, called the Merkle Root or Root Hash.<\/p>\n\n\n\n

\"Merkle
Credit: bitcoininsider.com<\/figcaption><\/figure>\n\n\n\n

Step 3 - Find A Valid Block Hash<\/h3>\n\n\n\n

To create a valid block hash, a miner has to combine the hash of the previous block, with their root hash, and an arbitrary number called Nonce<\/a> (number used only once).<\/p>\n\n\n\n

The nonce number is changed until a valid hash is found, as the hash of the previous block and the root hash cannot be changed.<\/p>\n\n\n\n

In order to be considered valid, the block hash must be less than a certain target value determined in the protocol<\/a>. In Bitcoin mining, the block hash must start with a certain number of zeros. This is what we call mining difficulty.<\/p>\n\n\n\n

What Is Mining Difficulty?<\/h4>\n\n\n\n

The cryptocurrency mining difficulty is adjusted by the protocol regularly. This ensures that the rate at which new blocks are mined remains constant. <\/p>\n\n\n\n

This is what makes the issuance of new coins steady and predictable. The difficulty adjusts in proportion to the amount of computational power or mining hash rate<\/a> on to the network.<\/p>\n\n\n\n

This means as more miners join the network the hashing difficulty gets harder. Likewise, if miners leave the hashing difficulty is easier. Allowing for a steady flow of blocks being mined.<\/p>\n\n\n\n

Step 4 - Broadcast The Block<\/h3>\n\n\n\n

Once a miner finds a valid block hash, the miner who found it will broadcast it to the entire network of other miners\/nodes. The nodes will confirm that the block and its hash are valid. If they find it is valid, the block is added to their copy of the blockchain. <\/p>\n\n\n\n

The previous candidate block has now become a confirmed block. The miners now move on to the next block. The miners whose candidate blocks weren't successful discard it and repeat the process in hopes of having the next confirmed block.<\/p>\n","post_title":"Cryptocurrency Mining","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"cryptocurrency-mining","to_ping":"","pinged":"https:\/\/www.thedistributed.co\/what-are-nodes\/\nhttps:\/\/www.thedistributed.co\/what-is-a-cryptographic-nonce-a-number-only-used-once\/\nhttps:\/\/www.thedistributed.co\/what-is-a-mining-hashrate\/\nhttps:\/\/www.thedistributed.co\/what-is-a-mempool-cryptocurrency-memory-pool\/\nhttps:\/\/www.thedistributed.co\/what-is-a-blockchain-protocol\/\nhttps:\/\/www.thedistributed.co\/what-is-distributed-ledger-technology\/","post_modified":"2022-07-25 00:47:38","post_modified_gmt":"2022-07-24 14:47:38","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3527","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3471,"post_author":"1","post_date":"2022-02-15 20:49:02","post_date_gmt":"2022-02-15 09:49:02","post_content":"\n

A mining hashrate is the amount of processing power a miner or network has to process transactions onto a blockchains ledger<\/a>.<\/p>\n\n\n\n

The hashrate of a miner<\/a> refers to the number calculations a rig can solve per second, known as a hash. <\/p>\n\n\n\n

The hashrate of a network refers to the hash rates of all miners<\/a> on a specific network.<\/p>\n\n\n\n

Why Is Hashrate Important?<\/h2>\n\n\n\n

Hashrate can measure the health and security of a network against potential attackers. Having a higher hashrate means a 51% attack<\/a> is unlikely due to the high amount of computational power needed. The more computational power or nodes<\/a> within a network, the more secure it is.<\/p>\n\n\n\n

Hashrate is also a metric that can measure the profitability of miners. For a single mining device having a high hashrate means that you'll increase your compensation for the work you put in, giving you a better reward.<\/p>\n","post_title":"Mining Hashrate Explained","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"mining-hashrate","to_ping":"","pinged":"https:\/\/www.thedistributed.co\/what-is-a-51-attack-on-a-blockchain\/\nhttps:\/\/www.thedistributed.co\/what-are-nodes\/\nhttps:\/\/www.thedistributed.co\/what-is-distributed-ledger-technology\/","post_modified":"2022-06-02 22:17:31","post_modified_gmt":"2022-06-02 12:17:31","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3471","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3401,"post_author":"1","post_date":"2022-02-07 19:10:06","post_date_gmt":"2022-02-07 08:10:06","post_content":"\n

What Is SHA-256?<\/h2>\n\n\n\n

Securing Hashing Algorithm 256 (SHA-256) is the hashing algorithm used to secure blockchains such as Bitcoin, where the hashing function<\/a> emits a 256-bit wide output. <\/p>\n\n\n\n

The hashing algorithm is responsible for wallet address creation and management along with the verification of transactions on the blockchain ledger<\/a> through mining<\/a>. ((Bitcoin Wiki - SHA-256<\/a>))<\/p>\n\n\n\n

How Secure Is SHA-256?<\/h2>\n\n\n\n

SHA-256 is a variant of the SHA-2, which was initially developed by the National Security Agency.((Federal Register - Announcing Approval of Federal Information Processing Standard (FIPS) 180-2, Secure Hash Standard; a Revision of FIPS 180-1<\/a>)) This means that the inner workings of the algorithm aren't known to the public as it protects sensitive information belonging to the United States. <\/p>\n\n\n\n

It is practically impossible to reveal the initial data from a hash value as they are only one-way functions. <\/p>\n\n\n\n

Bitcoin utilizes a double SHA-256, meaning once they get the initial hash from the data, it is hashed once again - this creates an insurmountable amount of possible hashes basically eliminating the chance of a brute-force attack<\/a> as it would take 2^256 attempts to generate the initial data,((N-able - SHA-256 Algorithm Overview<\/a>)) more than the number of atoms in the universe.<\/p>\n","post_title":"SHA-256","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"sha-256","to_ping":"","pinged":"https:\/\/www.thedistributed.co\/what-is-a-51-attack-on-a-blockchain\/\nhttps:\/\/www.thedistributed.co\/what-is-distributed-ledger-technology\/\nhttps:\/\/www.thedistributed.co\/a-guide-to-cryptocurrency-mining\/","post_modified":"2022-07-31 23:20:17","post_modified_gmt":"2022-07-31 13:20:17","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3401","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

Most Read

Subscribe To Our Newsletter

By subscribing, you agree with our privacy and terms.

Follow The Distributed

Twitter Instagram Youtube LinkedIn Facebook RSS
ADVERTISEMENT
\n

A miner is a node<\/a> in the given blockchain network that collects transactions and organizes them into blocks. Whenever a new transaction occurs miners receive and verify the data of the transaction before sorting it into a memory pool<\/a>, mempool for short.<\/p>\n\n\n\n

Once in the memory pool, transactions are put into a candidate block<\/a>. If the miner is successful with the following steps the candidate block is added to the blockchain, giving this miner a reward for their efforts.<\/p>\n\n\n\n

Step 1 - Hashing Transactions<\/h3>\n\n\n\n

A miner will take transactions from their memory pool, and put them through a hash function. A hash function turns any piece of data, no matter how big into a fixed size, called a hash. In this context, all of the data of the transaction is turned into a 'transaction hash'.<\/p>\n\n\n\n

Along with this, the miner will create a separate block with a transaction called the coinbase<\/em>. This separate block will give them their mining reward if their candidate block is successful, although it can contain any arbitrary data.((https:\/\/en.bitcoin.it\/wiki\/Coinbase))<\/p>\n\n\n\n

Step 2 - Create A Merkle Tree<\/h3>\n\n\n\n

After transactions are hashed they're organized into a Merkle Tree or Hash Tree. <\/p>\n\n\n\n

This process links two transactions together, hashes them, and repeats the process over and over until all data is encoded under one singular hash, called the Merkle Root or Root Hash.<\/p>\n\n\n\n

\"Merkle
Credit: bitcoininsider.com<\/figcaption><\/figure>\n\n\n\n

Step 3 - Find A Valid Block Hash<\/h3>\n\n\n\n

To create a valid block hash, a miner has to combine the hash of the previous block, with their root hash, and an arbitrary number called Nonce<\/a> (number used only once).<\/p>\n\n\n\n

The nonce number is changed until a valid hash is found, as the hash of the previous block and the root hash cannot be changed.<\/p>\n\n\n\n

In order to be considered valid, the block hash must be less than a certain target value determined in the protocol<\/a>. In Bitcoin mining, the block hash must start with a certain number of zeros. This is what we call mining difficulty.<\/p>\n\n\n\n

What Is Mining Difficulty?<\/h4>\n\n\n\n

The cryptocurrency mining difficulty is adjusted by the protocol regularly. This ensures that the rate at which new blocks are mined remains constant. <\/p>\n\n\n\n

This is what makes the issuance of new coins steady and predictable. The difficulty adjusts in proportion to the amount of computational power or mining hash rate<\/a> on to the network.<\/p>\n\n\n\n

This means as more miners join the network the hashing difficulty gets harder. Likewise, if miners leave the hashing difficulty is easier. Allowing for a steady flow of blocks being mined.<\/p>\n\n\n\n

Step 4 - Broadcast The Block<\/h3>\n\n\n\n

Once a miner finds a valid block hash, the miner who found it will broadcast it to the entire network of other miners\/nodes. The nodes will confirm that the block and its hash are valid. If they find it is valid, the block is added to their copy of the blockchain. <\/p>\n\n\n\n

The previous candidate block has now become a confirmed block. The miners now move on to the next block. The miners whose candidate blocks weren't successful discard it and repeat the process in hopes of having the next confirmed block.<\/p>\n","post_title":"Cryptocurrency Mining","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"cryptocurrency-mining","to_ping":"","pinged":"https:\/\/www.thedistributed.co\/what-are-nodes\/\nhttps:\/\/www.thedistributed.co\/what-is-a-cryptographic-nonce-a-number-only-used-once\/\nhttps:\/\/www.thedistributed.co\/what-is-a-mining-hashrate\/\nhttps:\/\/www.thedistributed.co\/what-is-a-mempool-cryptocurrency-memory-pool\/\nhttps:\/\/www.thedistributed.co\/what-is-a-blockchain-protocol\/\nhttps:\/\/www.thedistributed.co\/what-is-distributed-ledger-technology\/","post_modified":"2022-07-25 00:47:38","post_modified_gmt":"2022-07-24 14:47:38","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3527","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3471,"post_author":"1","post_date":"2022-02-15 20:49:02","post_date_gmt":"2022-02-15 09:49:02","post_content":"\n

A mining hashrate is the amount of processing power a miner or network has to process transactions onto a blockchains ledger<\/a>.<\/p>\n\n\n\n

The hashrate of a miner<\/a> refers to the number calculations a rig can solve per second, known as a hash. <\/p>\n\n\n\n

The hashrate of a network refers to the hash rates of all miners<\/a> on a specific network.<\/p>\n\n\n\n

Why Is Hashrate Important?<\/h2>\n\n\n\n

Hashrate can measure the health and security of a network against potential attackers. Having a higher hashrate means a 51% attack<\/a> is unlikely due to the high amount of computational power needed. The more computational power or nodes<\/a> within a network, the more secure it is.<\/p>\n\n\n\n

Hashrate is also a metric that can measure the profitability of miners. For a single mining device having a high hashrate means that you'll increase your compensation for the work you put in, giving you a better reward.<\/p>\n","post_title":"Mining Hashrate Explained","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"mining-hashrate","to_ping":"","pinged":"https:\/\/www.thedistributed.co\/what-is-a-51-attack-on-a-blockchain\/\nhttps:\/\/www.thedistributed.co\/what-are-nodes\/\nhttps:\/\/www.thedistributed.co\/what-is-distributed-ledger-technology\/","post_modified":"2022-06-02 22:17:31","post_modified_gmt":"2022-06-02 12:17:31","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3471","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3401,"post_author":"1","post_date":"2022-02-07 19:10:06","post_date_gmt":"2022-02-07 08:10:06","post_content":"\n

What Is SHA-256?<\/h2>\n\n\n\n

Securing Hashing Algorithm 256 (SHA-256) is the hashing algorithm used to secure blockchains such as Bitcoin, where the hashing function<\/a> emits a 256-bit wide output. <\/p>\n\n\n\n

The hashing algorithm is responsible for wallet address creation and management along with the verification of transactions on the blockchain ledger<\/a> through mining<\/a>. ((Bitcoin Wiki - SHA-256<\/a>))<\/p>\n\n\n\n

How Secure Is SHA-256?<\/h2>\n\n\n\n

SHA-256 is a variant of the SHA-2, which was initially developed by the National Security Agency.((Federal Register - Announcing Approval of Federal Information Processing Standard (FIPS) 180-2, Secure Hash Standard; a Revision of FIPS 180-1<\/a>)) This means that the inner workings of the algorithm aren't known to the public as it protects sensitive information belonging to the United States. <\/p>\n\n\n\n

It is practically impossible to reveal the initial data from a hash value as they are only one-way functions. <\/p>\n\n\n\n

Bitcoin utilizes a double SHA-256, meaning once they get the initial hash from the data, it is hashed once again - this creates an insurmountable amount of possible hashes basically eliminating the chance of a brute-force attack<\/a> as it would take 2^256 attempts to generate the initial data,((N-able - SHA-256 Algorithm Overview<\/a>)) more than the number of atoms in the universe.<\/p>\n","post_title":"SHA-256","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"sha-256","to_ping":"","pinged":"https:\/\/www.thedistributed.co\/what-is-a-51-attack-on-a-blockchain\/\nhttps:\/\/www.thedistributed.co\/what-is-distributed-ledger-technology\/\nhttps:\/\/www.thedistributed.co\/a-guide-to-cryptocurrency-mining\/","post_modified":"2022-07-31 23:20:17","post_modified_gmt":"2022-07-31 13:20:17","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3401","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

Most Read

Subscribe To Our Newsletter

By subscribing, you agree with our privacy and terms.

Follow The Distributed

Twitter Instagram Youtube LinkedIn Facebook RSS
ADVERTISEMENT
\n

How Does Cryptocurrency Mining Work?<\/h2>\n\n\n\n

A miner is a node<\/a> in the given blockchain network that collects transactions and organizes them into blocks. Whenever a new transaction occurs miners receive and verify the data of the transaction before sorting it into a memory pool<\/a>, mempool for short.<\/p>\n\n\n\n

Once in the memory pool, transactions are put into a candidate block<\/a>. If the miner is successful with the following steps the candidate block is added to the blockchain, giving this miner a reward for their efforts.<\/p>\n\n\n\n

Step 1 - Hashing Transactions<\/h3>\n\n\n\n

A miner will take transactions from their memory pool, and put them through a hash function. A hash function turns any piece of data, no matter how big into a fixed size, called a hash. In this context, all of the data of the transaction is turned into a 'transaction hash'.<\/p>\n\n\n\n

Along with this, the miner will create a separate block with a transaction called the coinbase<\/em>. This separate block will give them their mining reward if their candidate block is successful, although it can contain any arbitrary data.((https:\/\/en.bitcoin.it\/wiki\/Coinbase))<\/p>\n\n\n\n

Step 2 - Create A Merkle Tree<\/h3>\n\n\n\n

After transactions are hashed they're organized into a Merkle Tree or Hash Tree. <\/p>\n\n\n\n

This process links two transactions together, hashes them, and repeats the process over and over until all data is encoded under one singular hash, called the Merkle Root or Root Hash.<\/p>\n\n\n\n

\"Merkle
Credit: bitcoininsider.com<\/figcaption><\/figure>\n\n\n\n

Step 3 - Find A Valid Block Hash<\/h3>\n\n\n\n

To create a valid block hash, a miner has to combine the hash of the previous block, with their root hash, and an arbitrary number called Nonce<\/a> (number used only once).<\/p>\n\n\n\n

The nonce number is changed until a valid hash is found, as the hash of the previous block and the root hash cannot be changed.<\/p>\n\n\n\n

In order to be considered valid, the block hash must be less than a certain target value determined in the protocol<\/a>. In Bitcoin mining, the block hash must start with a certain number of zeros. This is what we call mining difficulty.<\/p>\n\n\n\n

What Is Mining Difficulty?<\/h4>\n\n\n\n

The cryptocurrency mining difficulty is adjusted by the protocol regularly. This ensures that the rate at which new blocks are mined remains constant. <\/p>\n\n\n\n

This is what makes the issuance of new coins steady and predictable. The difficulty adjusts in proportion to the amount of computational power or mining hash rate<\/a> on to the network.<\/p>\n\n\n\n

This means as more miners join the network the hashing difficulty gets harder. Likewise, if miners leave the hashing difficulty is easier. Allowing for a steady flow of blocks being mined.<\/p>\n\n\n\n

Step 4 - Broadcast The Block<\/h3>\n\n\n\n

Once a miner finds a valid block hash, the miner who found it will broadcast it to the entire network of other miners\/nodes. The nodes will confirm that the block and its hash are valid. If they find it is valid, the block is added to their copy of the blockchain. <\/p>\n\n\n\n

The previous candidate block has now become a confirmed block. The miners now move on to the next block. The miners whose candidate blocks weren't successful discard it and repeat the process in hopes of having the next confirmed block.<\/p>\n","post_title":"Cryptocurrency Mining","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"cryptocurrency-mining","to_ping":"","pinged":"https:\/\/www.thedistributed.co\/what-are-nodes\/\nhttps:\/\/www.thedistributed.co\/what-is-a-cryptographic-nonce-a-number-only-used-once\/\nhttps:\/\/www.thedistributed.co\/what-is-a-mining-hashrate\/\nhttps:\/\/www.thedistributed.co\/what-is-a-mempool-cryptocurrency-memory-pool\/\nhttps:\/\/www.thedistributed.co\/what-is-a-blockchain-protocol\/\nhttps:\/\/www.thedistributed.co\/what-is-distributed-ledger-technology\/","post_modified":"2022-07-25 00:47:38","post_modified_gmt":"2022-07-24 14:47:38","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3527","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3471,"post_author":"1","post_date":"2022-02-15 20:49:02","post_date_gmt":"2022-02-15 09:49:02","post_content":"\n

A mining hashrate is the amount of processing power a miner or network has to process transactions onto a blockchains ledger<\/a>.<\/p>\n\n\n\n

The hashrate of a miner<\/a> refers to the number calculations a rig can solve per second, known as a hash. <\/p>\n\n\n\n

The hashrate of a network refers to the hash rates of all miners<\/a> on a specific network.<\/p>\n\n\n\n

Why Is Hashrate Important?<\/h2>\n\n\n\n

Hashrate can measure the health and security of a network against potential attackers. Having a higher hashrate means a 51% attack<\/a> is unlikely due to the high amount of computational power needed. The more computational power or nodes<\/a> within a network, the more secure it is.<\/p>\n\n\n\n

Hashrate is also a metric that can measure the profitability of miners. For a single mining device having a high hashrate means that you'll increase your compensation for the work you put in, giving you a better reward.<\/p>\n","post_title":"Mining Hashrate Explained","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"mining-hashrate","to_ping":"","pinged":"https:\/\/www.thedistributed.co\/what-is-a-51-attack-on-a-blockchain\/\nhttps:\/\/www.thedistributed.co\/what-are-nodes\/\nhttps:\/\/www.thedistributed.co\/what-is-distributed-ledger-technology\/","post_modified":"2022-06-02 22:17:31","post_modified_gmt":"2022-06-02 12:17:31","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3471","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3401,"post_author":"1","post_date":"2022-02-07 19:10:06","post_date_gmt":"2022-02-07 08:10:06","post_content":"\n

What Is SHA-256?<\/h2>\n\n\n\n

Securing Hashing Algorithm 256 (SHA-256) is the hashing algorithm used to secure blockchains such as Bitcoin, where the hashing function<\/a> emits a 256-bit wide output. <\/p>\n\n\n\n

The hashing algorithm is responsible for wallet address creation and management along with the verification of transactions on the blockchain ledger<\/a> through mining<\/a>. ((Bitcoin Wiki - SHA-256<\/a>))<\/p>\n\n\n\n

How Secure Is SHA-256?<\/h2>\n\n\n\n

SHA-256 is a variant of the SHA-2, which was initially developed by the National Security Agency.((Federal Register - Announcing Approval of Federal Information Processing Standard (FIPS) 180-2, Secure Hash Standard; a Revision of FIPS 180-1<\/a>)) This means that the inner workings of the algorithm aren't known to the public as it protects sensitive information belonging to the United States. <\/p>\n\n\n\n

It is practically impossible to reveal the initial data from a hash value as they are only one-way functions. <\/p>\n\n\n\n

Bitcoin utilizes a double SHA-256, meaning once they get the initial hash from the data, it is hashed once again - this creates an insurmountable amount of possible hashes basically eliminating the chance of a brute-force attack<\/a> as it would take 2^256 attempts to generate the initial data,((N-able - SHA-256 Algorithm Overview<\/a>)) more than the number of atoms in the universe.<\/p>\n","post_title":"SHA-256","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"sha-256","to_ping":"","pinged":"https:\/\/www.thedistributed.co\/what-is-a-51-attack-on-a-blockchain\/\nhttps:\/\/www.thedistributed.co\/what-is-distributed-ledger-technology\/\nhttps:\/\/www.thedistributed.co\/a-guide-to-cryptocurrency-mining\/","post_modified":"2022-07-31 23:20:17","post_modified_gmt":"2022-07-31 13:20:17","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3401","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

Most Read

Subscribe To Our Newsletter

By subscribing, you agree with our privacy and terms.

Follow The Distributed

Twitter Instagram Youtube LinkedIn Facebook RSS
ADVERTISEMENT
\n

Cryptocurrency mining is how new transactions are validated on a blockchain's public ledger<\/a>. Validating transactions results in a reward of the cryptocurrency on the blockchain - adding new coins into circulation.<\/p>\n\n\n\n

How Does Cryptocurrency Mining Work?<\/h2>\n\n\n\n

A miner is a node<\/a> in the given blockchain network that collects transactions and organizes them into blocks. Whenever a new transaction occurs miners receive and verify the data of the transaction before sorting it into a memory pool<\/a>, mempool for short.<\/p>\n\n\n\n

Once in the memory pool, transactions are put into a candidate block<\/a>. If the miner is successful with the following steps the candidate block is added to the blockchain, giving this miner a reward for their efforts.<\/p>\n\n\n\n

Step 1 - Hashing Transactions<\/h3>\n\n\n\n

A miner will take transactions from their memory pool, and put them through a hash function. A hash function turns any piece of data, no matter how big into a fixed size, called a hash. In this context, all of the data of the transaction is turned into a 'transaction hash'.<\/p>\n\n\n\n

Along with this, the miner will create a separate block with a transaction called the coinbase<\/em>. This separate block will give them their mining reward if their candidate block is successful, although it can contain any arbitrary data.((https:\/\/en.bitcoin.it\/wiki\/Coinbase))<\/p>\n\n\n\n

Step 2 - Create A Merkle Tree<\/h3>\n\n\n\n

After transactions are hashed they're organized into a Merkle Tree or Hash Tree. <\/p>\n\n\n\n

This process links two transactions together, hashes them, and repeats the process over and over until all data is encoded under one singular hash, called the Merkle Root or Root Hash.<\/p>\n\n\n\n

\"Merkle
Credit: bitcoininsider.com<\/figcaption><\/figure>\n\n\n\n

Step 3 - Find A Valid Block Hash<\/h3>\n\n\n\n

To create a valid block hash, a miner has to combine the hash of the previous block, with their root hash, and an arbitrary number called Nonce<\/a> (number used only once).<\/p>\n\n\n\n

The nonce number is changed until a valid hash is found, as the hash of the previous block and the root hash cannot be changed.<\/p>\n\n\n\n

In order to be considered valid, the block hash must be less than a certain target value determined in the protocol<\/a>. In Bitcoin mining, the block hash must start with a certain number of zeros. This is what we call mining difficulty.<\/p>\n\n\n\n

What Is Mining Difficulty?<\/h4>\n\n\n\n

The cryptocurrency mining difficulty is adjusted by the protocol regularly. This ensures that the rate at which new blocks are mined remains constant. <\/p>\n\n\n\n

This is what makes the issuance of new coins steady and predictable. The difficulty adjusts in proportion to the amount of computational power or mining hash rate<\/a> on to the network.<\/p>\n\n\n\n

This means as more miners join the network the hashing difficulty gets harder. Likewise, if miners leave the hashing difficulty is easier. Allowing for a steady flow of blocks being mined.<\/p>\n\n\n\n

Step 4 - Broadcast The Block<\/h3>\n\n\n\n

Once a miner finds a valid block hash, the miner who found it will broadcast it to the entire network of other miners\/nodes. The nodes will confirm that the block and its hash are valid. If they find it is valid, the block is added to their copy of the blockchain. <\/p>\n\n\n\n

The previous candidate block has now become a confirmed block. The miners now move on to the next block. The miners whose candidate blocks weren't successful discard it and repeat the process in hopes of having the next confirmed block.<\/p>\n","post_title":"Cryptocurrency Mining","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"cryptocurrency-mining","to_ping":"","pinged":"https:\/\/www.thedistributed.co\/what-are-nodes\/\nhttps:\/\/www.thedistributed.co\/what-is-a-cryptographic-nonce-a-number-only-used-once\/\nhttps:\/\/www.thedistributed.co\/what-is-a-mining-hashrate\/\nhttps:\/\/www.thedistributed.co\/what-is-a-mempool-cryptocurrency-memory-pool\/\nhttps:\/\/www.thedistributed.co\/what-is-a-blockchain-protocol\/\nhttps:\/\/www.thedistributed.co\/what-is-distributed-ledger-technology\/","post_modified":"2022-07-25 00:47:38","post_modified_gmt":"2022-07-24 14:47:38","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3527","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3471,"post_author":"1","post_date":"2022-02-15 20:49:02","post_date_gmt":"2022-02-15 09:49:02","post_content":"\n

A mining hashrate is the amount of processing power a miner or network has to process transactions onto a blockchains ledger<\/a>.<\/p>\n\n\n\n

The hashrate of a miner<\/a> refers to the number calculations a rig can solve per second, known as a hash. <\/p>\n\n\n\n

The hashrate of a network refers to the hash rates of all miners<\/a> on a specific network.<\/p>\n\n\n\n

Why Is Hashrate Important?<\/h2>\n\n\n\n

Hashrate can measure the health and security of a network against potential attackers. Having a higher hashrate means a 51% attack<\/a> is unlikely due to the high amount of computational power needed. The more computational power or nodes<\/a> within a network, the more secure it is.<\/p>\n\n\n\n

Hashrate is also a metric that can measure the profitability of miners. For a single mining device having a high hashrate means that you'll increase your compensation for the work you put in, giving you a better reward.<\/p>\n","post_title":"Mining Hashrate Explained","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"mining-hashrate","to_ping":"","pinged":"https:\/\/www.thedistributed.co\/what-is-a-51-attack-on-a-blockchain\/\nhttps:\/\/www.thedistributed.co\/what-are-nodes\/\nhttps:\/\/www.thedistributed.co\/what-is-distributed-ledger-technology\/","post_modified":"2022-06-02 22:17:31","post_modified_gmt":"2022-06-02 12:17:31","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3471","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3401,"post_author":"1","post_date":"2022-02-07 19:10:06","post_date_gmt":"2022-02-07 08:10:06","post_content":"\n

What Is SHA-256?<\/h2>\n\n\n\n

Securing Hashing Algorithm 256 (SHA-256) is the hashing algorithm used to secure blockchains such as Bitcoin, where the hashing function<\/a> emits a 256-bit wide output. <\/p>\n\n\n\n

The hashing algorithm is responsible for wallet address creation and management along with the verification of transactions on the blockchain ledger<\/a> through mining<\/a>. ((Bitcoin Wiki - SHA-256<\/a>))<\/p>\n\n\n\n

How Secure Is SHA-256?<\/h2>\n\n\n\n

SHA-256 is a variant of the SHA-2, which was initially developed by the National Security Agency.((Federal Register - Announcing Approval of Federal Information Processing Standard (FIPS) 180-2, Secure Hash Standard; a Revision of FIPS 180-1<\/a>)) This means that the inner workings of the algorithm aren't known to the public as it protects sensitive information belonging to the United States. <\/p>\n\n\n\n

It is practically impossible to reveal the initial data from a hash value as they are only one-way functions. <\/p>\n\n\n\n

Bitcoin utilizes a double SHA-256, meaning once they get the initial hash from the data, it is hashed once again - this creates an insurmountable amount of possible hashes basically eliminating the chance of a brute-force attack<\/a> as it would take 2^256 attempts to generate the initial data,((N-able - SHA-256 Algorithm Overview<\/a>)) more than the number of atoms in the universe.<\/p>\n","post_title":"SHA-256","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"sha-256","to_ping":"","pinged":"https:\/\/www.thedistributed.co\/what-is-a-51-attack-on-a-blockchain\/\nhttps:\/\/www.thedistributed.co\/what-is-distributed-ledger-technology\/\nhttps:\/\/www.thedistributed.co\/a-guide-to-cryptocurrency-mining\/","post_modified":"2022-07-31 23:20:17","post_modified_gmt":"2022-07-31 13:20:17","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3401","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

Most Read

Subscribe To Our Newsletter

By subscribing, you agree with our privacy and terms.

Follow The Distributed

Twitter Instagram Youtube LinkedIn Facebook RSS
ADVERTISEMENT
\n

What Is Cryptocurrency Mining?<\/h2>\n\n\n\n

Cryptocurrency mining is how new transactions are validated on a blockchain's public ledger<\/a>. Validating transactions results in a reward of the cryptocurrency on the blockchain - adding new coins into circulation.<\/p>\n\n\n\n

How Does Cryptocurrency Mining Work?<\/h2>\n\n\n\n

A miner is a node<\/a> in the given blockchain network that collects transactions and organizes them into blocks. Whenever a new transaction occurs miners receive and verify the data of the transaction before sorting it into a memory pool<\/a>, mempool for short.<\/p>\n\n\n\n

Once in the memory pool, transactions are put into a candidate block<\/a>. If the miner is successful with the following steps the candidate block is added to the blockchain, giving this miner a reward for their efforts.<\/p>\n\n\n\n

Step 1 - Hashing Transactions<\/h3>\n\n\n\n

A miner will take transactions from their memory pool, and put them through a hash function. A hash function turns any piece of data, no matter how big into a fixed size, called a hash. In this context, all of the data of the transaction is turned into a 'transaction hash'.<\/p>\n\n\n\n

Along with this, the miner will create a separate block with a transaction called the coinbase<\/em>. This separate block will give them their mining reward if their candidate block is successful, although it can contain any arbitrary data.((https:\/\/en.bitcoin.it\/wiki\/Coinbase))<\/p>\n\n\n\n

Step 2 - Create A Merkle Tree<\/h3>\n\n\n\n

After transactions are hashed they're organized into a Merkle Tree or Hash Tree. <\/p>\n\n\n\n

This process links two transactions together, hashes them, and repeats the process over and over until all data is encoded under one singular hash, called the Merkle Root or Root Hash.<\/p>\n\n\n\n

\"Merkle
Credit: bitcoininsider.com<\/figcaption><\/figure>\n\n\n\n

Step 3 - Find A Valid Block Hash<\/h3>\n\n\n\n

To create a valid block hash, a miner has to combine the hash of the previous block, with their root hash, and an arbitrary number called Nonce<\/a> (number used only once).<\/p>\n\n\n\n

The nonce number is changed until a valid hash is found, as the hash of the previous block and the root hash cannot be changed.<\/p>\n\n\n\n

In order to be considered valid, the block hash must be less than a certain target value determined in the protocol<\/a>. In Bitcoin mining, the block hash must start with a certain number of zeros. This is what we call mining difficulty.<\/p>\n\n\n\n

What Is Mining Difficulty?<\/h4>\n\n\n\n

The cryptocurrency mining difficulty is adjusted by the protocol regularly. This ensures that the rate at which new blocks are mined remains constant. <\/p>\n\n\n\n

This is what makes the issuance of new coins steady and predictable. The difficulty adjusts in proportion to the amount of computational power or mining hash rate<\/a> on to the network.<\/p>\n\n\n\n

This means as more miners join the network the hashing difficulty gets harder. Likewise, if miners leave the hashing difficulty is easier. Allowing for a steady flow of blocks being mined.<\/p>\n\n\n\n

Step 4 - Broadcast The Block<\/h3>\n\n\n\n

Once a miner finds a valid block hash, the miner who found it will broadcast it to the entire network of other miners\/nodes. The nodes will confirm that the block and its hash are valid. If they find it is valid, the block is added to their copy of the blockchain. <\/p>\n\n\n\n

The previous candidate block has now become a confirmed block. The miners now move on to the next block. The miners whose candidate blocks weren't successful discard it and repeat the process in hopes of having the next confirmed block.<\/p>\n","post_title":"Cryptocurrency Mining","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"cryptocurrency-mining","to_ping":"","pinged":"https:\/\/www.thedistributed.co\/what-are-nodes\/\nhttps:\/\/www.thedistributed.co\/what-is-a-cryptographic-nonce-a-number-only-used-once\/\nhttps:\/\/www.thedistributed.co\/what-is-a-mining-hashrate\/\nhttps:\/\/www.thedistributed.co\/what-is-a-mempool-cryptocurrency-memory-pool\/\nhttps:\/\/www.thedistributed.co\/what-is-a-blockchain-protocol\/\nhttps:\/\/www.thedistributed.co\/what-is-distributed-ledger-technology\/","post_modified":"2022-07-25 00:47:38","post_modified_gmt":"2022-07-24 14:47:38","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3527","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3471,"post_author":"1","post_date":"2022-02-15 20:49:02","post_date_gmt":"2022-02-15 09:49:02","post_content":"\n

A mining hashrate is the amount of processing power a miner or network has to process transactions onto a blockchains ledger<\/a>.<\/p>\n\n\n\n

The hashrate of a miner<\/a> refers to the number calculations a rig can solve per second, known as a hash. <\/p>\n\n\n\n

The hashrate of a network refers to the hash rates of all miners<\/a> on a specific network.<\/p>\n\n\n\n

Why Is Hashrate Important?<\/h2>\n\n\n\n

Hashrate can measure the health and security of a network against potential attackers. Having a higher hashrate means a 51% attack<\/a> is unlikely due to the high amount of computational power needed. The more computational power or nodes<\/a> within a network, the more secure it is.<\/p>\n\n\n\n

Hashrate is also a metric that can measure the profitability of miners. For a single mining device having a high hashrate means that you'll increase your compensation for the work you put in, giving you a better reward.<\/p>\n","post_title":"Mining Hashrate Explained","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"mining-hashrate","to_ping":"","pinged":"https:\/\/www.thedistributed.co\/what-is-a-51-attack-on-a-blockchain\/\nhttps:\/\/www.thedistributed.co\/what-are-nodes\/\nhttps:\/\/www.thedistributed.co\/what-is-distributed-ledger-technology\/","post_modified":"2022-06-02 22:17:31","post_modified_gmt":"2022-06-02 12:17:31","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3471","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3401,"post_author":"1","post_date":"2022-02-07 19:10:06","post_date_gmt":"2022-02-07 08:10:06","post_content":"\n

What Is SHA-256?<\/h2>\n\n\n\n

Securing Hashing Algorithm 256 (SHA-256) is the hashing algorithm used to secure blockchains such as Bitcoin, where the hashing function<\/a> emits a 256-bit wide output. <\/p>\n\n\n\n

The hashing algorithm is responsible for wallet address creation and management along with the verification of transactions on the blockchain ledger<\/a> through mining<\/a>. ((Bitcoin Wiki - SHA-256<\/a>))<\/p>\n\n\n\n

How Secure Is SHA-256?<\/h2>\n\n\n\n

SHA-256 is a variant of the SHA-2, which was initially developed by the National Security Agency.((Federal Register - Announcing Approval of Federal Information Processing Standard (FIPS) 180-2, Secure Hash Standard; a Revision of FIPS 180-1<\/a>)) This means that the inner workings of the algorithm aren't known to the public as it protects sensitive information belonging to the United States. <\/p>\n\n\n\n

It is practically impossible to reveal the initial data from a hash value as they are only one-way functions. <\/p>\n\n\n\n

Bitcoin utilizes a double SHA-256, meaning once they get the initial hash from the data, it is hashed once again - this creates an insurmountable amount of possible hashes basically eliminating the chance of a brute-force attack<\/a> as it would take 2^256 attempts to generate the initial data,((N-able - SHA-256 Algorithm Overview<\/a>)) more than the number of atoms in the universe.<\/p>\n","post_title":"SHA-256","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"sha-256","to_ping":"","pinged":"https:\/\/www.thedistributed.co\/what-is-a-51-attack-on-a-blockchain\/\nhttps:\/\/www.thedistributed.co\/what-is-distributed-ledger-technology\/\nhttps:\/\/www.thedistributed.co\/a-guide-to-cryptocurrency-mining\/","post_modified":"2022-07-31 23:20:17","post_modified_gmt":"2022-07-31 13:20:17","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3401","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

Most Read

Subscribe To Our Newsletter

By subscribing, you agree with our privacy and terms.

Follow The Distributed

Twitter Instagram Youtube LinkedIn Facebook RSS
ADVERTISEMENT
\n

The difficulty adjusts in proportion to the amount of computational power or mining hash rate<\/a> on to the network. So, as more miners join the network the hashing difficulty gets harder. Likewise, if miners leave the hashing difficulty becomes easier. This means a steady flow of blocks is being mined.<\/p>\n","post_title":"Number Only Used Once (Nonce) Definition","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"nonce","to_ping":"","pinged":"https:\/\/www.thedistributed.co\/what-is-a-mining-hashrate\/\nhttps:\/\/www.thedistributed.co\/a-guide-to-cryptocurrency-mining\/\nhttps:\/\/www.thedistributed.co\/a-guide-to-cryptocurrency-mining\/#mining-difficulty","post_modified":"2022-06-02 22:16:57","post_modified_gmt":"2022-06-02 12:16:57","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3659","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3527,"post_author":"1","post_date":"2022-02-21 15:15:35","post_date_gmt":"2022-02-21 04:15:35","post_content":"\n

What Is Cryptocurrency Mining?<\/h2>\n\n\n\n

Cryptocurrency mining is how new transactions are validated on a blockchain's public ledger<\/a>. Validating transactions results in a reward of the cryptocurrency on the blockchain - adding new coins into circulation.<\/p>\n\n\n\n

How Does Cryptocurrency Mining Work?<\/h2>\n\n\n\n

A miner is a node<\/a> in the given blockchain network that collects transactions and organizes them into blocks. Whenever a new transaction occurs miners receive and verify the data of the transaction before sorting it into a memory pool<\/a>, mempool for short.<\/p>\n\n\n\n

Once in the memory pool, transactions are put into a candidate block<\/a>. If the miner is successful with the following steps the candidate block is added to the blockchain, giving this miner a reward for their efforts.<\/p>\n\n\n\n

Step 1 - Hashing Transactions<\/h3>\n\n\n\n

A miner will take transactions from their memory pool, and put them through a hash function. A hash function turns any piece of data, no matter how big into a fixed size, called a hash. In this context, all of the data of the transaction is turned into a 'transaction hash'.<\/p>\n\n\n\n

Along with this, the miner will create a separate block with a transaction called the coinbase<\/em>. This separate block will give them their mining reward if their candidate block is successful, although it can contain any arbitrary data.((https:\/\/en.bitcoin.it\/wiki\/Coinbase))<\/p>\n\n\n\n

Step 2 - Create A Merkle Tree<\/h3>\n\n\n\n

After transactions are hashed they're organized into a Merkle Tree or Hash Tree. <\/p>\n\n\n\n

This process links two transactions together, hashes them, and repeats the process over and over until all data is encoded under one singular hash, called the Merkle Root or Root Hash.<\/p>\n\n\n\n

\"Merkle
Credit: bitcoininsider.com<\/figcaption><\/figure>\n\n\n\n

Step 3 - Find A Valid Block Hash<\/h3>\n\n\n\n

To create a valid block hash, a miner has to combine the hash of the previous block, with their root hash, and an arbitrary number called Nonce<\/a> (number used only once).<\/p>\n\n\n\n

The nonce number is changed until a valid hash is found, as the hash of the previous block and the root hash cannot be changed.<\/p>\n\n\n\n

In order to be considered valid, the block hash must be less than a certain target value determined in the protocol<\/a>. In Bitcoin mining, the block hash must start with a certain number of zeros. This is what we call mining difficulty.<\/p>\n\n\n\n

What Is Mining Difficulty?<\/h4>\n\n\n\n

The cryptocurrency mining difficulty is adjusted by the protocol regularly. This ensures that the rate at which new blocks are mined remains constant. <\/p>\n\n\n\n

This is what makes the issuance of new coins steady and predictable. The difficulty adjusts in proportion to the amount of computational power or mining hash rate<\/a> on to the network.<\/p>\n\n\n\n

This means as more miners join the network the hashing difficulty gets harder. Likewise, if miners leave the hashing difficulty is easier. Allowing for a steady flow of blocks being mined.<\/p>\n\n\n\n

Step 4 - Broadcast The Block<\/h3>\n\n\n\n

Once a miner finds a valid block hash, the miner who found it will broadcast it to the entire network of other miners\/nodes. The nodes will confirm that the block and its hash are valid. If they find it is valid, the block is added to their copy of the blockchain. <\/p>\n\n\n\n

The previous candidate block has now become a confirmed block. The miners now move on to the next block. The miners whose candidate blocks weren't successful discard it and repeat the process in hopes of having the next confirmed block.<\/p>\n","post_title":"Cryptocurrency Mining","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"cryptocurrency-mining","to_ping":"","pinged":"https:\/\/www.thedistributed.co\/what-are-nodes\/\nhttps:\/\/www.thedistributed.co\/what-is-a-cryptographic-nonce-a-number-only-used-once\/\nhttps:\/\/www.thedistributed.co\/what-is-a-mining-hashrate\/\nhttps:\/\/www.thedistributed.co\/what-is-a-mempool-cryptocurrency-memory-pool\/\nhttps:\/\/www.thedistributed.co\/what-is-a-blockchain-protocol\/\nhttps:\/\/www.thedistributed.co\/what-is-distributed-ledger-technology\/","post_modified":"2022-07-25 00:47:38","post_modified_gmt":"2022-07-24 14:47:38","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3527","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3471,"post_author":"1","post_date":"2022-02-15 20:49:02","post_date_gmt":"2022-02-15 09:49:02","post_content":"\n

A mining hashrate is the amount of processing power a miner or network has to process transactions onto a blockchains ledger<\/a>.<\/p>\n\n\n\n

The hashrate of a miner<\/a> refers to the number calculations a rig can solve per second, known as a hash. <\/p>\n\n\n\n

The hashrate of a network refers to the hash rates of all miners<\/a> on a specific network.<\/p>\n\n\n\n

Why Is Hashrate Important?<\/h2>\n\n\n\n

Hashrate can measure the health and security of a network against potential attackers. Having a higher hashrate means a 51% attack<\/a> is unlikely due to the high amount of computational power needed. The more computational power or nodes<\/a> within a network, the more secure it is.<\/p>\n\n\n\n

Hashrate is also a metric that can measure the profitability of miners. For a single mining device having a high hashrate means that you'll increase your compensation for the work you put in, giving you a better reward.<\/p>\n","post_title":"Mining Hashrate Explained","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"mining-hashrate","to_ping":"","pinged":"https:\/\/www.thedistributed.co\/what-is-a-51-attack-on-a-blockchain\/\nhttps:\/\/www.thedistributed.co\/what-are-nodes\/\nhttps:\/\/www.thedistributed.co\/what-is-distributed-ledger-technology\/","post_modified":"2022-06-02 22:17:31","post_modified_gmt":"2022-06-02 12:17:31","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3471","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3401,"post_author":"1","post_date":"2022-02-07 19:10:06","post_date_gmt":"2022-02-07 08:10:06","post_content":"\n

What Is SHA-256?<\/h2>\n\n\n\n

Securing Hashing Algorithm 256 (SHA-256) is the hashing algorithm used to secure blockchains such as Bitcoin, where the hashing function<\/a> emits a 256-bit wide output. <\/p>\n\n\n\n

The hashing algorithm is responsible for wallet address creation and management along with the verification of transactions on the blockchain ledger<\/a> through mining<\/a>. ((Bitcoin Wiki - SHA-256<\/a>))<\/p>\n\n\n\n

How Secure Is SHA-256?<\/h2>\n\n\n\n

SHA-256 is a variant of the SHA-2, which was initially developed by the National Security Agency.((Federal Register - Announcing Approval of Federal Information Processing Standard (FIPS) 180-2, Secure Hash Standard; a Revision of FIPS 180-1<\/a>)) This means that the inner workings of the algorithm aren't known to the public as it protects sensitive information belonging to the United States. <\/p>\n\n\n\n

It is practically impossible to reveal the initial data from a hash value as they are only one-way functions. <\/p>\n\n\n\n

Bitcoin utilizes a double SHA-256, meaning once they get the initial hash from the data, it is hashed once again - this creates an insurmountable amount of possible hashes basically eliminating the chance of a brute-force attack<\/a> as it would take 2^256 attempts to generate the initial data,((N-able - SHA-256 Algorithm Overview<\/a>)) more than the number of atoms in the universe.<\/p>\n","post_title":"SHA-256","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"sha-256","to_ping":"","pinged":"https:\/\/www.thedistributed.co\/what-is-a-51-attack-on-a-blockchain\/\nhttps:\/\/www.thedistributed.co\/what-is-distributed-ledger-technology\/\nhttps:\/\/www.thedistributed.co\/a-guide-to-cryptocurrency-mining\/","post_modified":"2022-07-31 23:20:17","post_modified_gmt":"2022-07-31 13:20:17","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3401","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

Most Read

Subscribe To Our Newsletter

By subscribing, you agree with our privacy and terms.

Follow The Distributed

Twitter Instagram Youtube LinkedIn Facebook RSS
ADVERTISEMENT
\n

The number of potential hashes needed to find the number is automatically adjusted by the protocol<\/a> to ensure that it is found. For example, Bitcoin does this every 10 minutes. This is the mining difficulty adjustment. <\/p>\n\n\n\n

The difficulty adjusts in proportion to the amount of computational power or mining hash rate<\/a> on to the network. So, as more miners join the network the hashing difficulty gets harder. Likewise, if miners leave the hashing difficulty becomes easier. This means a steady flow of blocks is being mined.<\/p>\n","post_title":"Number Only Used Once (Nonce) Definition","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"nonce","to_ping":"","pinged":"https:\/\/www.thedistributed.co\/what-is-a-mining-hashrate\/\nhttps:\/\/www.thedistributed.co\/a-guide-to-cryptocurrency-mining\/\nhttps:\/\/www.thedistributed.co\/a-guide-to-cryptocurrency-mining\/#mining-difficulty","post_modified":"2022-06-02 22:16:57","post_modified_gmt":"2022-06-02 12:16:57","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3659","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3527,"post_author":"1","post_date":"2022-02-21 15:15:35","post_date_gmt":"2022-02-21 04:15:35","post_content":"\n

What Is Cryptocurrency Mining?<\/h2>\n\n\n\n

Cryptocurrency mining is how new transactions are validated on a blockchain's public ledger<\/a>. Validating transactions results in a reward of the cryptocurrency on the blockchain - adding new coins into circulation.<\/p>\n\n\n\n

How Does Cryptocurrency Mining Work?<\/h2>\n\n\n\n

A miner is a node<\/a> in the given blockchain network that collects transactions and organizes them into blocks. Whenever a new transaction occurs miners receive and verify the data of the transaction before sorting it into a memory pool<\/a>, mempool for short.<\/p>\n\n\n\n

Once in the memory pool, transactions are put into a candidate block<\/a>. If the miner is successful with the following steps the candidate block is added to the blockchain, giving this miner a reward for their efforts.<\/p>\n\n\n\n

Step 1 - Hashing Transactions<\/h3>\n\n\n\n

A miner will take transactions from their memory pool, and put them through a hash function. A hash function turns any piece of data, no matter how big into a fixed size, called a hash. In this context, all of the data of the transaction is turned into a 'transaction hash'.<\/p>\n\n\n\n

Along with this, the miner will create a separate block with a transaction called the coinbase<\/em>. This separate block will give them their mining reward if their candidate block is successful, although it can contain any arbitrary data.((https:\/\/en.bitcoin.it\/wiki\/Coinbase))<\/p>\n\n\n\n

Step 2 - Create A Merkle Tree<\/h3>\n\n\n\n

After transactions are hashed they're organized into a Merkle Tree or Hash Tree. <\/p>\n\n\n\n

This process links two transactions together, hashes them, and repeats the process over and over until all data is encoded under one singular hash, called the Merkle Root or Root Hash.<\/p>\n\n\n\n

\"Merkle
Credit: bitcoininsider.com<\/figcaption><\/figure>\n\n\n\n

Step 3 - Find A Valid Block Hash<\/h3>\n\n\n\n

To create a valid block hash, a miner has to combine the hash of the previous block, with their root hash, and an arbitrary number called Nonce<\/a> (number used only once).<\/p>\n\n\n\n

The nonce number is changed until a valid hash is found, as the hash of the previous block and the root hash cannot be changed.<\/p>\n\n\n\n

In order to be considered valid, the block hash must be less than a certain target value determined in the protocol<\/a>. In Bitcoin mining, the block hash must start with a certain number of zeros. This is what we call mining difficulty.<\/p>\n\n\n\n

What Is Mining Difficulty?<\/h4>\n\n\n\n

The cryptocurrency mining difficulty is adjusted by the protocol regularly. This ensures that the rate at which new blocks are mined remains constant. <\/p>\n\n\n\n

This is what makes the issuance of new coins steady and predictable. The difficulty adjusts in proportion to the amount of computational power or mining hash rate<\/a> on to the network.<\/p>\n\n\n\n

This means as more miners join the network the hashing difficulty gets harder. Likewise, if miners leave the hashing difficulty is easier. Allowing for a steady flow of blocks being mined.<\/p>\n\n\n\n

Step 4 - Broadcast The Block<\/h3>\n\n\n\n

Once a miner finds a valid block hash, the miner who found it will broadcast it to the entire network of other miners\/nodes. The nodes will confirm that the block and its hash are valid. If they find it is valid, the block is added to their copy of the blockchain. <\/p>\n\n\n\n

The previous candidate block has now become a confirmed block. The miners now move on to the next block. The miners whose candidate blocks weren't successful discard it and repeat the process in hopes of having the next confirmed block.<\/p>\n","post_title":"Cryptocurrency Mining","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"cryptocurrency-mining","to_ping":"","pinged":"https:\/\/www.thedistributed.co\/what-are-nodes\/\nhttps:\/\/www.thedistributed.co\/what-is-a-cryptographic-nonce-a-number-only-used-once\/\nhttps:\/\/www.thedistributed.co\/what-is-a-mining-hashrate\/\nhttps:\/\/www.thedistributed.co\/what-is-a-mempool-cryptocurrency-memory-pool\/\nhttps:\/\/www.thedistributed.co\/what-is-a-blockchain-protocol\/\nhttps:\/\/www.thedistributed.co\/what-is-distributed-ledger-technology\/","post_modified":"2022-07-25 00:47:38","post_modified_gmt":"2022-07-24 14:47:38","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3527","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3471,"post_author":"1","post_date":"2022-02-15 20:49:02","post_date_gmt":"2022-02-15 09:49:02","post_content":"\n

A mining hashrate is the amount of processing power a miner or network has to process transactions onto a blockchains ledger<\/a>.<\/p>\n\n\n\n

The hashrate of a miner<\/a> refers to the number calculations a rig can solve per second, known as a hash. <\/p>\n\n\n\n

The hashrate of a network refers to the hash rates of all miners<\/a> on a specific network.<\/p>\n\n\n\n

Why Is Hashrate Important?<\/h2>\n\n\n\n

Hashrate can measure the health and security of a network against potential attackers. Having a higher hashrate means a 51% attack<\/a> is unlikely due to the high amount of computational power needed. The more computational power or nodes<\/a> within a network, the more secure it is.<\/p>\n\n\n\n

Hashrate is also a metric that can measure the profitability of miners. For a single mining device having a high hashrate means that you'll increase your compensation for the work you put in, giving you a better reward.<\/p>\n","post_title":"Mining Hashrate Explained","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"mining-hashrate","to_ping":"","pinged":"https:\/\/www.thedistributed.co\/what-is-a-51-attack-on-a-blockchain\/\nhttps:\/\/www.thedistributed.co\/what-are-nodes\/\nhttps:\/\/www.thedistributed.co\/what-is-distributed-ledger-technology\/","post_modified":"2022-06-02 22:17:31","post_modified_gmt":"2022-06-02 12:17:31","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3471","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3401,"post_author":"1","post_date":"2022-02-07 19:10:06","post_date_gmt":"2022-02-07 08:10:06","post_content":"\n

What Is SHA-256?<\/h2>\n\n\n\n

Securing Hashing Algorithm 256 (SHA-256) is the hashing algorithm used to secure blockchains such as Bitcoin, where the hashing function<\/a> emits a 256-bit wide output. <\/p>\n\n\n\n

The hashing algorithm is responsible for wallet address creation and management along with the verification of transactions on the blockchain ledger<\/a> through mining<\/a>. ((Bitcoin Wiki - SHA-256<\/a>))<\/p>\n\n\n\n

How Secure Is SHA-256?<\/h2>\n\n\n\n

SHA-256 is a variant of the SHA-2, which was initially developed by the National Security Agency.((Federal Register - Announcing Approval of Federal Information Processing Standard (FIPS) 180-2, Secure Hash Standard; a Revision of FIPS 180-1<\/a>)) This means that the inner workings of the algorithm aren't known to the public as it protects sensitive information belonging to the United States. <\/p>\n\n\n\n

It is practically impossible to reveal the initial data from a hash value as they are only one-way functions. <\/p>\n\n\n\n

Bitcoin utilizes a double SHA-256, meaning once they get the initial hash from the data, it is hashed once again - this creates an insurmountable amount of possible hashes basically eliminating the chance of a brute-force attack<\/a> as it would take 2^256 attempts to generate the initial data,((N-able - SHA-256 Algorithm Overview<\/a>)) more than the number of atoms in the universe.<\/p>\n","post_title":"SHA-256","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"sha-256","to_ping":"","pinged":"https:\/\/www.thedistributed.co\/what-is-a-51-attack-on-a-blockchain\/\nhttps:\/\/www.thedistributed.co\/what-is-distributed-ledger-technology\/\nhttps:\/\/www.thedistributed.co\/a-guide-to-cryptocurrency-mining\/","post_modified":"2022-07-31 23:20:17","post_modified_gmt":"2022-07-31 13:20:17","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3401","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

Most Read

Subscribe To Our Newsletter

By subscribing, you agree with our privacy and terms.

Follow The Distributed

Twitter Instagram Youtube LinkedIn Facebook RSS
ADVERTISEMENT
\n

The difficulty of finding the nonce filters out miners who aren't as talented or committed to the act, as the probability is close to zero.<\/p>\n\n\n\n

The number of potential hashes needed to find the number is automatically adjusted by the protocol<\/a> to ensure that it is found. For example, Bitcoin does this every 10 minutes. This is the mining difficulty adjustment. <\/p>\n\n\n\n

The difficulty adjusts in proportion to the amount of computational power or mining hash rate<\/a> on to the network. So, as more miners join the network the hashing difficulty gets harder. Likewise, if miners leave the hashing difficulty becomes easier. This means a steady flow of blocks is being mined.<\/p>\n","post_title":"Number Only Used Once (Nonce) Definition","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"nonce","to_ping":"","pinged":"https:\/\/www.thedistributed.co\/what-is-a-mining-hashrate\/\nhttps:\/\/www.thedistributed.co\/a-guide-to-cryptocurrency-mining\/\nhttps:\/\/www.thedistributed.co\/a-guide-to-cryptocurrency-mining\/#mining-difficulty","post_modified":"2022-06-02 22:16:57","post_modified_gmt":"2022-06-02 12:16:57","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3659","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3527,"post_author":"1","post_date":"2022-02-21 15:15:35","post_date_gmt":"2022-02-21 04:15:35","post_content":"\n

What Is Cryptocurrency Mining?<\/h2>\n\n\n\n

Cryptocurrency mining is how new transactions are validated on a blockchain's public ledger<\/a>. Validating transactions results in a reward of the cryptocurrency on the blockchain - adding new coins into circulation.<\/p>\n\n\n\n

How Does Cryptocurrency Mining Work?<\/h2>\n\n\n\n

A miner is a node<\/a> in the given blockchain network that collects transactions and organizes them into blocks. Whenever a new transaction occurs miners receive and verify the data of the transaction before sorting it into a memory pool<\/a>, mempool for short.<\/p>\n\n\n\n

Once in the memory pool, transactions are put into a candidate block<\/a>. If the miner is successful with the following steps the candidate block is added to the blockchain, giving this miner a reward for their efforts.<\/p>\n\n\n\n

Step 1 - Hashing Transactions<\/h3>\n\n\n\n

A miner will take transactions from their memory pool, and put them through a hash function. A hash function turns any piece of data, no matter how big into a fixed size, called a hash. In this context, all of the data of the transaction is turned into a 'transaction hash'.<\/p>\n\n\n\n

Along with this, the miner will create a separate block with a transaction called the coinbase<\/em>. This separate block will give them their mining reward if their candidate block is successful, although it can contain any arbitrary data.((https:\/\/en.bitcoin.it\/wiki\/Coinbase))<\/p>\n\n\n\n

Step 2 - Create A Merkle Tree<\/h3>\n\n\n\n

After transactions are hashed they're organized into a Merkle Tree or Hash Tree. <\/p>\n\n\n\n

This process links two transactions together, hashes them, and repeats the process over and over until all data is encoded under one singular hash, called the Merkle Root or Root Hash.<\/p>\n\n\n\n

\"Merkle
Credit: bitcoininsider.com<\/figcaption><\/figure>\n\n\n\n

Step 3 - Find A Valid Block Hash<\/h3>\n\n\n\n

To create a valid block hash, a miner has to combine the hash of the previous block, with their root hash, and an arbitrary number called Nonce<\/a> (number used only once).<\/p>\n\n\n\n

The nonce number is changed until a valid hash is found, as the hash of the previous block and the root hash cannot be changed.<\/p>\n\n\n\n

In order to be considered valid, the block hash must be less than a certain target value determined in the protocol<\/a>. In Bitcoin mining, the block hash must start with a certain number of zeros. This is what we call mining difficulty.<\/p>\n\n\n\n

What Is Mining Difficulty?<\/h4>\n\n\n\n

The cryptocurrency mining difficulty is adjusted by the protocol regularly. This ensures that the rate at which new blocks are mined remains constant. <\/p>\n\n\n\n

This is what makes the issuance of new coins steady and predictable. The difficulty adjusts in proportion to the amount of computational power or mining hash rate<\/a> on to the network.<\/p>\n\n\n\n

This means as more miners join the network the hashing difficulty gets harder. Likewise, if miners leave the hashing difficulty is easier. Allowing for a steady flow of blocks being mined.<\/p>\n\n\n\n

Step 4 - Broadcast The Block<\/h3>\n\n\n\n

Once a miner finds a valid block hash, the miner who found it will broadcast it to the entire network of other miners\/nodes. The nodes will confirm that the block and its hash are valid. If they find it is valid, the block is added to their copy of the blockchain. <\/p>\n\n\n\n

The previous candidate block has now become a confirmed block. The miners now move on to the next block. The miners whose candidate blocks weren't successful discard it and repeat the process in hopes of having the next confirmed block.<\/p>\n","post_title":"Cryptocurrency Mining","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"cryptocurrency-mining","to_ping":"","pinged":"https:\/\/www.thedistributed.co\/what-are-nodes\/\nhttps:\/\/www.thedistributed.co\/what-is-a-cryptographic-nonce-a-number-only-used-once\/\nhttps:\/\/www.thedistributed.co\/what-is-a-mining-hashrate\/\nhttps:\/\/www.thedistributed.co\/what-is-a-mempool-cryptocurrency-memory-pool\/\nhttps:\/\/www.thedistributed.co\/what-is-a-blockchain-protocol\/\nhttps:\/\/www.thedistributed.co\/what-is-distributed-ledger-technology\/","post_modified":"2022-07-25 00:47:38","post_modified_gmt":"2022-07-24 14:47:38","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3527","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3471,"post_author":"1","post_date":"2022-02-15 20:49:02","post_date_gmt":"2022-02-15 09:49:02","post_content":"\n

A mining hashrate is the amount of processing power a miner or network has to process transactions onto a blockchains ledger<\/a>.<\/p>\n\n\n\n

The hashrate of a miner<\/a> refers to the number calculations a rig can solve per second, known as a hash. <\/p>\n\n\n\n

The hashrate of a network refers to the hash rates of all miners<\/a> on a specific network.<\/p>\n\n\n\n

Why Is Hashrate Important?<\/h2>\n\n\n\n

Hashrate can measure the health and security of a network against potential attackers. Having a higher hashrate means a 51% attack<\/a> is unlikely due to the high amount of computational power needed. The more computational power or nodes<\/a> within a network, the more secure it is.<\/p>\n\n\n\n

Hashrate is also a metric that can measure the profitability of miners. For a single mining device having a high hashrate means that you'll increase your compensation for the work you put in, giving you a better reward.<\/p>\n","post_title":"Mining Hashrate Explained","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"mining-hashrate","to_ping":"","pinged":"https:\/\/www.thedistributed.co\/what-is-a-51-attack-on-a-blockchain\/\nhttps:\/\/www.thedistributed.co\/what-are-nodes\/\nhttps:\/\/www.thedistributed.co\/what-is-distributed-ledger-technology\/","post_modified":"2022-06-02 22:17:31","post_modified_gmt":"2022-06-02 12:17:31","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3471","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3401,"post_author":"1","post_date":"2022-02-07 19:10:06","post_date_gmt":"2022-02-07 08:10:06","post_content":"\n

What Is SHA-256?<\/h2>\n\n\n\n

Securing Hashing Algorithm 256 (SHA-256) is the hashing algorithm used to secure blockchains such as Bitcoin, where the hashing function<\/a> emits a 256-bit wide output. <\/p>\n\n\n\n

The hashing algorithm is responsible for wallet address creation and management along with the verification of transactions on the blockchain ledger<\/a> through mining<\/a>. ((Bitcoin Wiki - SHA-256<\/a>))<\/p>\n\n\n\n

How Secure Is SHA-256?<\/h2>\n\n\n\n

SHA-256 is a variant of the SHA-2, which was initially developed by the National Security Agency.((Federal Register - Announcing Approval of Federal Information Processing Standard (FIPS) 180-2, Secure Hash Standard; a Revision of FIPS 180-1<\/a>)) This means that the inner workings of the algorithm aren't known to the public as it protects sensitive information belonging to the United States. <\/p>\n\n\n\n

It is practically impossible to reveal the initial data from a hash value as they are only one-way functions. <\/p>\n\n\n\n

Bitcoin utilizes a double SHA-256, meaning once they get the initial hash from the data, it is hashed once again - this creates an insurmountable amount of possible hashes basically eliminating the chance of a brute-force attack<\/a> as it would take 2^256 attempts to generate the initial data,((N-able - SHA-256 Algorithm Overview<\/a>)) more than the number of atoms in the universe.<\/p>\n","post_title":"SHA-256","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"sha-256","to_ping":"","pinged":"https:\/\/www.thedistributed.co\/what-is-a-51-attack-on-a-blockchain\/\nhttps:\/\/www.thedistributed.co\/what-is-distributed-ledger-technology\/\nhttps:\/\/www.thedistributed.co\/a-guide-to-cryptocurrency-mining\/","post_modified":"2022-07-31 23:20:17","post_modified_gmt":"2022-07-31 13:20:17","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3401","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

Most Read

Subscribe To Our Newsletter

By subscribing, you agree with our privacy and terms.

Follow The Distributed

Twitter Instagram Youtube LinkedIn Facebook RSS
ADVERTISEMENT
\n

Why Is Finding The Nonce So Hard?<\/h2>\n\n\n\n

The difficulty of finding the nonce filters out miners who aren't as talented or committed to the act, as the probability is close to zero.<\/p>\n\n\n\n

The number of potential hashes needed to find the number is automatically adjusted by the protocol<\/a> to ensure that it is found. For example, Bitcoin does this every 10 minutes. This is the mining difficulty adjustment. <\/p>\n\n\n\n

The difficulty adjusts in proportion to the amount of computational power or mining hash rate<\/a> on to the network. So, as more miners join the network the hashing difficulty gets harder. Likewise, if miners leave the hashing difficulty becomes easier. This means a steady flow of blocks is being mined.<\/p>\n","post_title":"Number Only Used Once (Nonce) Definition","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"nonce","to_ping":"","pinged":"https:\/\/www.thedistributed.co\/what-is-a-mining-hashrate\/\nhttps:\/\/www.thedistributed.co\/a-guide-to-cryptocurrency-mining\/\nhttps:\/\/www.thedistributed.co\/a-guide-to-cryptocurrency-mining\/#mining-difficulty","post_modified":"2022-06-02 22:16:57","post_modified_gmt":"2022-06-02 12:16:57","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3659","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3527,"post_author":"1","post_date":"2022-02-21 15:15:35","post_date_gmt":"2022-02-21 04:15:35","post_content":"\n

What Is Cryptocurrency Mining?<\/h2>\n\n\n\n

Cryptocurrency mining is how new transactions are validated on a blockchain's public ledger<\/a>. Validating transactions results in a reward of the cryptocurrency on the blockchain - adding new coins into circulation.<\/p>\n\n\n\n

How Does Cryptocurrency Mining Work?<\/h2>\n\n\n\n

A miner is a node<\/a> in the given blockchain network that collects transactions and organizes them into blocks. Whenever a new transaction occurs miners receive and verify the data of the transaction before sorting it into a memory pool<\/a>, mempool for short.<\/p>\n\n\n\n

Once in the memory pool, transactions are put into a candidate block<\/a>. If the miner is successful with the following steps the candidate block is added to the blockchain, giving this miner a reward for their efforts.<\/p>\n\n\n\n

Step 1 - Hashing Transactions<\/h3>\n\n\n\n

A miner will take transactions from their memory pool, and put them through a hash function. A hash function turns any piece of data, no matter how big into a fixed size, called a hash. In this context, all of the data of the transaction is turned into a 'transaction hash'.<\/p>\n\n\n\n

Along with this, the miner will create a separate block with a transaction called the coinbase<\/em>. This separate block will give them their mining reward if their candidate block is successful, although it can contain any arbitrary data.((https:\/\/en.bitcoin.it\/wiki\/Coinbase))<\/p>\n\n\n\n

Step 2 - Create A Merkle Tree<\/h3>\n\n\n\n

After transactions are hashed they're organized into a Merkle Tree or Hash Tree. <\/p>\n\n\n\n

This process links two transactions together, hashes them, and repeats the process over and over until all data is encoded under one singular hash, called the Merkle Root or Root Hash.<\/p>\n\n\n\n

\"Merkle
Credit: bitcoininsider.com<\/figcaption><\/figure>\n\n\n\n

Step 3 - Find A Valid Block Hash<\/h3>\n\n\n\n

To create a valid block hash, a miner has to combine the hash of the previous block, with their root hash, and an arbitrary number called Nonce<\/a> (number used only once).<\/p>\n\n\n\n

The nonce number is changed until a valid hash is found, as the hash of the previous block and the root hash cannot be changed.<\/p>\n\n\n\n

In order to be considered valid, the block hash must be less than a certain target value determined in the protocol<\/a>. In Bitcoin mining, the block hash must start with a certain number of zeros. This is what we call mining difficulty.<\/p>\n\n\n\n

What Is Mining Difficulty?<\/h4>\n\n\n\n

The cryptocurrency mining difficulty is adjusted by the protocol regularly. This ensures that the rate at which new blocks are mined remains constant. <\/p>\n\n\n\n

This is what makes the issuance of new coins steady and predictable. The difficulty adjusts in proportion to the amount of computational power or mining hash rate<\/a> on to the network.<\/p>\n\n\n\n

This means as more miners join the network the hashing difficulty gets harder. Likewise, if miners leave the hashing difficulty is easier. Allowing for a steady flow of blocks being mined.<\/p>\n\n\n\n

Step 4 - Broadcast The Block<\/h3>\n\n\n\n

Once a miner finds a valid block hash, the miner who found it will broadcast it to the entire network of other miners\/nodes. The nodes will confirm that the block and its hash are valid. If they find it is valid, the block is added to their copy of the blockchain. <\/p>\n\n\n\n

The previous candidate block has now become a confirmed block. The miners now move on to the next block. The miners whose candidate blocks weren't successful discard it and repeat the process in hopes of having the next confirmed block.<\/p>\n","post_title":"Cryptocurrency Mining","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"cryptocurrency-mining","to_ping":"","pinged":"https:\/\/www.thedistributed.co\/what-are-nodes\/\nhttps:\/\/www.thedistributed.co\/what-is-a-cryptographic-nonce-a-number-only-used-once\/\nhttps:\/\/www.thedistributed.co\/what-is-a-mining-hashrate\/\nhttps:\/\/www.thedistributed.co\/what-is-a-mempool-cryptocurrency-memory-pool\/\nhttps:\/\/www.thedistributed.co\/what-is-a-blockchain-protocol\/\nhttps:\/\/www.thedistributed.co\/what-is-distributed-ledger-technology\/","post_modified":"2022-07-25 00:47:38","post_modified_gmt":"2022-07-24 14:47:38","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3527","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3471,"post_author":"1","post_date":"2022-02-15 20:49:02","post_date_gmt":"2022-02-15 09:49:02","post_content":"\n

A mining hashrate is the amount of processing power a miner or network has to process transactions onto a blockchains ledger<\/a>.<\/p>\n\n\n\n

The hashrate of a miner<\/a> refers to the number calculations a rig can solve per second, known as a hash. <\/p>\n\n\n\n

The hashrate of a network refers to the hash rates of all miners<\/a> on a specific network.<\/p>\n\n\n\n

Why Is Hashrate Important?<\/h2>\n\n\n\n

Hashrate can measure the health and security of a network against potential attackers. Having a higher hashrate means a 51% attack<\/a> is unlikely due to the high amount of computational power needed. The more computational power or nodes<\/a> within a network, the more secure it is.<\/p>\n\n\n\n

Hashrate is also a metric that can measure the profitability of miners. For a single mining device having a high hashrate means that you'll increase your compensation for the work you put in, giving you a better reward.<\/p>\n","post_title":"Mining Hashrate Explained","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"mining-hashrate","to_ping":"","pinged":"https:\/\/www.thedistributed.co\/what-is-a-51-attack-on-a-blockchain\/\nhttps:\/\/www.thedistributed.co\/what-are-nodes\/\nhttps:\/\/www.thedistributed.co\/what-is-distributed-ledger-technology\/","post_modified":"2022-06-02 22:17:31","post_modified_gmt":"2022-06-02 12:17:31","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3471","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3401,"post_author":"1","post_date":"2022-02-07 19:10:06","post_date_gmt":"2022-02-07 08:10:06","post_content":"\n

What Is SHA-256?<\/h2>\n\n\n\n

Securing Hashing Algorithm 256 (SHA-256) is the hashing algorithm used to secure blockchains such as Bitcoin, where the hashing function<\/a> emits a 256-bit wide output. <\/p>\n\n\n\n

The hashing algorithm is responsible for wallet address creation and management along with the verification of transactions on the blockchain ledger<\/a> through mining<\/a>. ((Bitcoin Wiki - SHA-256<\/a>))<\/p>\n\n\n\n

How Secure Is SHA-256?<\/h2>\n\n\n\n

SHA-256 is a variant of the SHA-2, which was initially developed by the National Security Agency.((Federal Register - Announcing Approval of Federal Information Processing Standard (FIPS) 180-2, Secure Hash Standard; a Revision of FIPS 180-1<\/a>)) This means that the inner workings of the algorithm aren't known to the public as it protects sensitive information belonging to the United States. <\/p>\n\n\n\n

It is practically impossible to reveal the initial data from a hash value as they are only one-way functions. <\/p>\n\n\n\n

Bitcoin utilizes a double SHA-256, meaning once they get the initial hash from the data, it is hashed once again - this creates an insurmountable amount of possible hashes basically eliminating the chance of a brute-force attack<\/a> as it would take 2^256 attempts to generate the initial data,((N-able - SHA-256 Algorithm Overview<\/a>)) more than the number of atoms in the universe.<\/p>\n","post_title":"SHA-256","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"sha-256","to_ping":"","pinged":"https:\/\/www.thedistributed.co\/what-is-a-51-attack-on-a-blockchain\/\nhttps:\/\/www.thedistributed.co\/what-is-distributed-ledger-technology\/\nhttps:\/\/www.thedistributed.co\/a-guide-to-cryptocurrency-mining\/","post_modified":"2022-07-31 23:20:17","post_modified_gmt":"2022-07-31 13:20:17","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3401","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

Most Read

Subscribe To Our Newsletter

By subscribing, you agree with our privacy and terms.

Follow The Distributed

Twitter Instagram Youtube LinkedIn Facebook RSS
ADVERTISEMENT
\n

The reason miners are rewarded for finding the nonce is that it is very difficult to do so, and requires a lot of energy and computational power. Cryptographic nonce numbers are pseudo-random numbers, so miners will approach finding them through trial and error. Every calculation will provide a new nonce number until the right one's found.<\/p>\n\n\n\n

Why Is Finding The Nonce So Hard?<\/h2>\n\n\n\n

The difficulty of finding the nonce filters out miners who aren't as talented or committed to the act, as the probability is close to zero.<\/p>\n\n\n\n

The number of potential hashes needed to find the number is automatically adjusted by the protocol<\/a> to ensure that it is found. For example, Bitcoin does this every 10 minutes. This is the mining difficulty adjustment. <\/p>\n\n\n\n

The difficulty adjusts in proportion to the amount of computational power or mining hash rate<\/a> on to the network. So, as more miners join the network the hashing difficulty gets harder. Likewise, if miners leave the hashing difficulty becomes easier. This means a steady flow of blocks is being mined.<\/p>\n","post_title":"Number Only Used Once (Nonce) Definition","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"nonce","to_ping":"","pinged":"https:\/\/www.thedistributed.co\/what-is-a-mining-hashrate\/\nhttps:\/\/www.thedistributed.co\/a-guide-to-cryptocurrency-mining\/\nhttps:\/\/www.thedistributed.co\/a-guide-to-cryptocurrency-mining\/#mining-difficulty","post_modified":"2022-06-02 22:16:57","post_modified_gmt":"2022-06-02 12:16:57","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3659","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3527,"post_author":"1","post_date":"2022-02-21 15:15:35","post_date_gmt":"2022-02-21 04:15:35","post_content":"\n

What Is Cryptocurrency Mining?<\/h2>\n\n\n\n

Cryptocurrency mining is how new transactions are validated on a blockchain's public ledger<\/a>. Validating transactions results in a reward of the cryptocurrency on the blockchain - adding new coins into circulation.<\/p>\n\n\n\n

How Does Cryptocurrency Mining Work?<\/h2>\n\n\n\n

A miner is a node<\/a> in the given blockchain network that collects transactions and organizes them into blocks. Whenever a new transaction occurs miners receive and verify the data of the transaction before sorting it into a memory pool<\/a>, mempool for short.<\/p>\n\n\n\n

Once in the memory pool, transactions are put into a candidate block<\/a>. If the miner is successful with the following steps the candidate block is added to the blockchain, giving this miner a reward for their efforts.<\/p>\n\n\n\n

Step 1 - Hashing Transactions<\/h3>\n\n\n\n

A miner will take transactions from their memory pool, and put them through a hash function. A hash function turns any piece of data, no matter how big into a fixed size, called a hash. In this context, all of the data of the transaction is turned into a 'transaction hash'.<\/p>\n\n\n\n

Along with this, the miner will create a separate block with a transaction called the coinbase<\/em>. This separate block will give them their mining reward if their candidate block is successful, although it can contain any arbitrary data.((https:\/\/en.bitcoin.it\/wiki\/Coinbase))<\/p>\n\n\n\n

Step 2 - Create A Merkle Tree<\/h3>\n\n\n\n

After transactions are hashed they're organized into a Merkle Tree or Hash Tree. <\/p>\n\n\n\n

This process links two transactions together, hashes them, and repeats the process over and over until all data is encoded under one singular hash, called the Merkle Root or Root Hash.<\/p>\n\n\n\n

\"Merkle
Credit: bitcoininsider.com<\/figcaption><\/figure>\n\n\n\n

Step 3 - Find A Valid Block Hash<\/h3>\n\n\n\n

To create a valid block hash, a miner has to combine the hash of the previous block, with their root hash, and an arbitrary number called Nonce<\/a> (number used only once).<\/p>\n\n\n\n

The nonce number is changed until a valid hash is found, as the hash of the previous block and the root hash cannot be changed.<\/p>\n\n\n\n

In order to be considered valid, the block hash must be less than a certain target value determined in the protocol<\/a>. In Bitcoin mining, the block hash must start with a certain number of zeros. This is what we call mining difficulty.<\/p>\n\n\n\n

What Is Mining Difficulty?<\/h4>\n\n\n\n

The cryptocurrency mining difficulty is adjusted by the protocol regularly. This ensures that the rate at which new blocks are mined remains constant. <\/p>\n\n\n\n

This is what makes the issuance of new coins steady and predictable. The difficulty adjusts in proportion to the amount of computational power or mining hash rate<\/a> on to the network.<\/p>\n\n\n\n

This means as more miners join the network the hashing difficulty gets harder. Likewise, if miners leave the hashing difficulty is easier. Allowing for a steady flow of blocks being mined.<\/p>\n\n\n\n

Step 4 - Broadcast The Block<\/h3>\n\n\n\n

Once a miner finds a valid block hash, the miner who found it will broadcast it to the entire network of other miners\/nodes. The nodes will confirm that the block and its hash are valid. If they find it is valid, the block is added to their copy of the blockchain. <\/p>\n\n\n\n

The previous candidate block has now become a confirmed block. The miners now move on to the next block. The miners whose candidate blocks weren't successful discard it and repeat the process in hopes of having the next confirmed block.<\/p>\n","post_title":"Cryptocurrency Mining","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"cryptocurrency-mining","to_ping":"","pinged":"https:\/\/www.thedistributed.co\/what-are-nodes\/\nhttps:\/\/www.thedistributed.co\/what-is-a-cryptographic-nonce-a-number-only-used-once\/\nhttps:\/\/www.thedistributed.co\/what-is-a-mining-hashrate\/\nhttps:\/\/www.thedistributed.co\/what-is-a-mempool-cryptocurrency-memory-pool\/\nhttps:\/\/www.thedistributed.co\/what-is-a-blockchain-protocol\/\nhttps:\/\/www.thedistributed.co\/what-is-distributed-ledger-technology\/","post_modified":"2022-07-25 00:47:38","post_modified_gmt":"2022-07-24 14:47:38","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3527","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3471,"post_author":"1","post_date":"2022-02-15 20:49:02","post_date_gmt":"2022-02-15 09:49:02","post_content":"\n

A mining hashrate is the amount of processing power a miner or network has to process transactions onto a blockchains ledger<\/a>.<\/p>\n\n\n\n

The hashrate of a miner<\/a> refers to the number calculations a rig can solve per second, known as a hash. <\/p>\n\n\n\n

The hashrate of a network refers to the hash rates of all miners<\/a> on a specific network.<\/p>\n\n\n\n

Why Is Hashrate Important?<\/h2>\n\n\n\n

Hashrate can measure the health and security of a network against potential attackers. Having a higher hashrate means a 51% attack<\/a> is unlikely due to the high amount of computational power needed. The more computational power or nodes<\/a> within a network, the more secure it is.<\/p>\n\n\n\n

Hashrate is also a metric that can measure the profitability of miners. For a single mining device having a high hashrate means that you'll increase your compensation for the work you put in, giving you a better reward.<\/p>\n","post_title":"Mining Hashrate Explained","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"mining-hashrate","to_ping":"","pinged":"https:\/\/www.thedistributed.co\/what-is-a-51-attack-on-a-blockchain\/\nhttps:\/\/www.thedistributed.co\/what-are-nodes\/\nhttps:\/\/www.thedistributed.co\/what-is-distributed-ledger-technology\/","post_modified":"2022-06-02 22:17:31","post_modified_gmt":"2022-06-02 12:17:31","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3471","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3401,"post_author":"1","post_date":"2022-02-07 19:10:06","post_date_gmt":"2022-02-07 08:10:06","post_content":"\n

What Is SHA-256?<\/h2>\n\n\n\n

Securing Hashing Algorithm 256 (SHA-256) is the hashing algorithm used to secure blockchains such as Bitcoin, where the hashing function<\/a> emits a 256-bit wide output. <\/p>\n\n\n\n

The hashing algorithm is responsible for wallet address creation and management along with the verification of transactions on the blockchain ledger<\/a> through mining<\/a>. ((Bitcoin Wiki - SHA-256<\/a>))<\/p>\n\n\n\n

How Secure Is SHA-256?<\/h2>\n\n\n\n

SHA-256 is a variant of the SHA-2, which was initially developed by the National Security Agency.((Federal Register - Announcing Approval of Federal Information Processing Standard (FIPS) 180-2, Secure Hash Standard; a Revision of FIPS 180-1<\/a>)) This means that the inner workings of the algorithm aren't known to the public as it protects sensitive information belonging to the United States. <\/p>\n\n\n\n

It is practically impossible to reveal the initial data from a hash value as they are only one-way functions. <\/p>\n\n\n\n

Bitcoin utilizes a double SHA-256, meaning once they get the initial hash from the data, it is hashed once again - this creates an insurmountable amount of possible hashes basically eliminating the chance of a brute-force attack<\/a> as it would take 2^256 attempts to generate the initial data,((N-able - SHA-256 Algorithm Overview<\/a>)) more than the number of atoms in the universe.<\/p>\n","post_title":"SHA-256","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"sha-256","to_ping":"","pinged":"https:\/\/www.thedistributed.co\/what-is-a-51-attack-on-a-blockchain\/\nhttps:\/\/www.thedistributed.co\/what-is-distributed-ledger-technology\/\nhttps:\/\/www.thedistributed.co\/a-guide-to-cryptocurrency-mining\/","post_modified":"2022-07-31 23:20:17","post_modified_gmt":"2022-07-31 13:20:17","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3401","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

Most Read

Subscribe To Our Newsletter

By subscribing, you agree with our privacy and terms.

Follow The Distributed

Twitter Instagram Youtube LinkedIn Facebook RSS
ADVERTISEMENT
\n

The nonce is the number that cryptocurrency miners are searching for. Only once it is found, miners can broadcast their block to the other nodes for verification. <\/p>\n\n\n\n

The reason miners are rewarded for finding the nonce is that it is very difficult to do so, and requires a lot of energy and computational power. Cryptographic nonce numbers are pseudo-random numbers, so miners will approach finding them through trial and error. Every calculation will provide a new nonce number until the right one's found.<\/p>\n\n\n\n

Why Is Finding The Nonce So Hard?<\/h2>\n\n\n\n

The difficulty of finding the nonce filters out miners who aren't as talented or committed to the act, as the probability is close to zero.<\/p>\n\n\n\n

The number of potential hashes needed to find the number is automatically adjusted by the protocol<\/a> to ensure that it is found. For example, Bitcoin does this every 10 minutes. This is the mining difficulty adjustment. <\/p>\n\n\n\n

The difficulty adjusts in proportion to the amount of computational power or mining hash rate<\/a> on to the network. So, as more miners join the network the hashing difficulty gets harder. Likewise, if miners leave the hashing difficulty becomes easier. This means a steady flow of blocks is being mined.<\/p>\n","post_title":"Number Only Used Once (Nonce) Definition","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"nonce","to_ping":"","pinged":"https:\/\/www.thedistributed.co\/what-is-a-mining-hashrate\/\nhttps:\/\/www.thedistributed.co\/a-guide-to-cryptocurrency-mining\/\nhttps:\/\/www.thedistributed.co\/a-guide-to-cryptocurrency-mining\/#mining-difficulty","post_modified":"2022-06-02 22:16:57","post_modified_gmt":"2022-06-02 12:16:57","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3659","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3527,"post_author":"1","post_date":"2022-02-21 15:15:35","post_date_gmt":"2022-02-21 04:15:35","post_content":"\n

What Is Cryptocurrency Mining?<\/h2>\n\n\n\n

Cryptocurrency mining is how new transactions are validated on a blockchain's public ledger<\/a>. Validating transactions results in a reward of the cryptocurrency on the blockchain - adding new coins into circulation.<\/p>\n\n\n\n

How Does Cryptocurrency Mining Work?<\/h2>\n\n\n\n

A miner is a node<\/a> in the given blockchain network that collects transactions and organizes them into blocks. Whenever a new transaction occurs miners receive and verify the data of the transaction before sorting it into a memory pool<\/a>, mempool for short.<\/p>\n\n\n\n

Once in the memory pool, transactions are put into a candidate block<\/a>. If the miner is successful with the following steps the candidate block is added to the blockchain, giving this miner a reward for their efforts.<\/p>\n\n\n\n

Step 1 - Hashing Transactions<\/h3>\n\n\n\n

A miner will take transactions from their memory pool, and put them through a hash function. A hash function turns any piece of data, no matter how big into a fixed size, called a hash. In this context, all of the data of the transaction is turned into a 'transaction hash'.<\/p>\n\n\n\n

Along with this, the miner will create a separate block with a transaction called the coinbase<\/em>. This separate block will give them their mining reward if their candidate block is successful, although it can contain any arbitrary data.((https:\/\/en.bitcoin.it\/wiki\/Coinbase))<\/p>\n\n\n\n

Step 2 - Create A Merkle Tree<\/h3>\n\n\n\n

After transactions are hashed they're organized into a Merkle Tree or Hash Tree. <\/p>\n\n\n\n

This process links two transactions together, hashes them, and repeats the process over and over until all data is encoded under one singular hash, called the Merkle Root or Root Hash.<\/p>\n\n\n\n

\"Merkle
Credit: bitcoininsider.com<\/figcaption><\/figure>\n\n\n\n

Step 3 - Find A Valid Block Hash<\/h3>\n\n\n\n

To create a valid block hash, a miner has to combine the hash of the previous block, with their root hash, and an arbitrary number called Nonce<\/a> (number used only once).<\/p>\n\n\n\n

The nonce number is changed until a valid hash is found, as the hash of the previous block and the root hash cannot be changed.<\/p>\n\n\n\n

In order to be considered valid, the block hash must be less than a certain target value determined in the protocol<\/a>. In Bitcoin mining, the block hash must start with a certain number of zeros. This is what we call mining difficulty.<\/p>\n\n\n\n

What Is Mining Difficulty?<\/h4>\n\n\n\n

The cryptocurrency mining difficulty is adjusted by the protocol regularly. This ensures that the rate at which new blocks are mined remains constant. <\/p>\n\n\n\n

This is what makes the issuance of new coins steady and predictable. The difficulty adjusts in proportion to the amount of computational power or mining hash rate<\/a> on to the network.<\/p>\n\n\n\n

This means as more miners join the network the hashing difficulty gets harder. Likewise, if miners leave the hashing difficulty is easier. Allowing for a steady flow of blocks being mined.<\/p>\n\n\n\n

Step 4 - Broadcast The Block<\/h3>\n\n\n\n

Once a miner finds a valid block hash, the miner who found it will broadcast it to the entire network of other miners\/nodes. The nodes will confirm that the block and its hash are valid. If they find it is valid, the block is added to their copy of the blockchain. <\/p>\n\n\n\n

The previous candidate block has now become a confirmed block. The miners now move on to the next block. The miners whose candidate blocks weren't successful discard it and repeat the process in hopes of having the next confirmed block.<\/p>\n","post_title":"Cryptocurrency Mining","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"cryptocurrency-mining","to_ping":"","pinged":"https:\/\/www.thedistributed.co\/what-are-nodes\/\nhttps:\/\/www.thedistributed.co\/what-is-a-cryptographic-nonce-a-number-only-used-once\/\nhttps:\/\/www.thedistributed.co\/what-is-a-mining-hashrate\/\nhttps:\/\/www.thedistributed.co\/what-is-a-mempool-cryptocurrency-memory-pool\/\nhttps:\/\/www.thedistributed.co\/what-is-a-blockchain-protocol\/\nhttps:\/\/www.thedistributed.co\/what-is-distributed-ledger-technology\/","post_modified":"2022-07-25 00:47:38","post_modified_gmt":"2022-07-24 14:47:38","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3527","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3471,"post_author":"1","post_date":"2022-02-15 20:49:02","post_date_gmt":"2022-02-15 09:49:02","post_content":"\n

A mining hashrate is the amount of processing power a miner or network has to process transactions onto a blockchains ledger<\/a>.<\/p>\n\n\n\n

The hashrate of a miner<\/a> refers to the number calculations a rig can solve per second, known as a hash. <\/p>\n\n\n\n

The hashrate of a network refers to the hash rates of all miners<\/a> on a specific network.<\/p>\n\n\n\n

Why Is Hashrate Important?<\/h2>\n\n\n\n

Hashrate can measure the health and security of a network against potential attackers. Having a higher hashrate means a 51% attack<\/a> is unlikely due to the high amount of computational power needed. The more computational power or nodes<\/a> within a network, the more secure it is.<\/p>\n\n\n\n

Hashrate is also a metric that can measure the profitability of miners. For a single mining device having a high hashrate means that you'll increase your compensation for the work you put in, giving you a better reward.<\/p>\n","post_title":"Mining Hashrate Explained","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"mining-hashrate","to_ping":"","pinged":"https:\/\/www.thedistributed.co\/what-is-a-51-attack-on-a-blockchain\/\nhttps:\/\/www.thedistributed.co\/what-are-nodes\/\nhttps:\/\/www.thedistributed.co\/what-is-distributed-ledger-technology\/","post_modified":"2022-06-02 22:17:31","post_modified_gmt":"2022-06-02 12:17:31","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3471","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3401,"post_author":"1","post_date":"2022-02-07 19:10:06","post_date_gmt":"2022-02-07 08:10:06","post_content":"\n

What Is SHA-256?<\/h2>\n\n\n\n

Securing Hashing Algorithm 256 (SHA-256) is the hashing algorithm used to secure blockchains such as Bitcoin, where the hashing function<\/a> emits a 256-bit wide output. <\/p>\n\n\n\n

The hashing algorithm is responsible for wallet address creation and management along with the verification of transactions on the blockchain ledger<\/a> through mining<\/a>. ((Bitcoin Wiki - SHA-256<\/a>))<\/p>\n\n\n\n

How Secure Is SHA-256?<\/h2>\n\n\n\n

SHA-256 is a variant of the SHA-2, which was initially developed by the National Security Agency.((Federal Register - Announcing Approval of Federal Information Processing Standard (FIPS) 180-2, Secure Hash Standard; a Revision of FIPS 180-1<\/a>)) This means that the inner workings of the algorithm aren't known to the public as it protects sensitive information belonging to the United States. <\/p>\n\n\n\n

It is practically impossible to reveal the initial data from a hash value as they are only one-way functions. <\/p>\n\n\n\n

Bitcoin utilizes a double SHA-256, meaning once they get the initial hash from the data, it is hashed once again - this creates an insurmountable amount of possible hashes basically eliminating the chance of a brute-force attack<\/a> as it would take 2^256 attempts to generate the initial data,((N-able - SHA-256 Algorithm Overview<\/a>)) more than the number of atoms in the universe.<\/p>\n","post_title":"SHA-256","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"sha-256","to_ping":"","pinged":"https:\/\/www.thedistributed.co\/what-is-a-51-attack-on-a-blockchain\/\nhttps:\/\/www.thedistributed.co\/what-is-distributed-ledger-technology\/\nhttps:\/\/www.thedistributed.co\/a-guide-to-cryptocurrency-mining\/","post_modified":"2022-07-31 23:20:17","post_modified_gmt":"2022-07-31 13:20:17","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3401","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

Most Read

Subscribe To Our Newsletter

By subscribing, you agree with our privacy and terms.

Follow The Distributed

Twitter Instagram Youtube LinkedIn Facebook RSS
ADVERTISEMENT
\n

A cryptographic nonce is an abbreviation for \"number only used once\". In reference to cryptocurrency mining<\/a>, it is a number added to a hashed block that, when rehashed, meets the mining difficulty<\/a>.((https:\/\/en.wikipedia.org\/wiki\/Cryptographic_nonce<\/a>))<\/p>\n\n\n\n

The nonce is the number that cryptocurrency miners are searching for. Only once it is found, miners can broadcast their block to the other nodes for verification. <\/p>\n\n\n\n

The reason miners are rewarded for finding the nonce is that it is very difficult to do so, and requires a lot of energy and computational power. Cryptographic nonce numbers are pseudo-random numbers, so miners will approach finding them through trial and error. Every calculation will provide a new nonce number until the right one's found.<\/p>\n\n\n\n

Why Is Finding The Nonce So Hard?<\/h2>\n\n\n\n

The difficulty of finding the nonce filters out miners who aren't as talented or committed to the act, as the probability is close to zero.<\/p>\n\n\n\n

The number of potential hashes needed to find the number is automatically adjusted by the protocol<\/a> to ensure that it is found. For example, Bitcoin does this every 10 minutes. This is the mining difficulty adjustment. <\/p>\n\n\n\n

The difficulty adjusts in proportion to the amount of computational power or mining hash rate<\/a> on to the network. So, as more miners join the network the hashing difficulty gets harder. Likewise, if miners leave the hashing difficulty becomes easier. This means a steady flow of blocks is being mined.<\/p>\n","post_title":"Number Only Used Once (Nonce) Definition","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"nonce","to_ping":"","pinged":"https:\/\/www.thedistributed.co\/what-is-a-mining-hashrate\/\nhttps:\/\/www.thedistributed.co\/a-guide-to-cryptocurrency-mining\/\nhttps:\/\/www.thedistributed.co\/a-guide-to-cryptocurrency-mining\/#mining-difficulty","post_modified":"2022-06-02 22:16:57","post_modified_gmt":"2022-06-02 12:16:57","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3659","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3527,"post_author":"1","post_date":"2022-02-21 15:15:35","post_date_gmt":"2022-02-21 04:15:35","post_content":"\n

What Is Cryptocurrency Mining?<\/h2>\n\n\n\n

Cryptocurrency mining is how new transactions are validated on a blockchain's public ledger<\/a>. Validating transactions results in a reward of the cryptocurrency on the blockchain - adding new coins into circulation.<\/p>\n\n\n\n

How Does Cryptocurrency Mining Work?<\/h2>\n\n\n\n

A miner is a node<\/a> in the given blockchain network that collects transactions and organizes them into blocks. Whenever a new transaction occurs miners receive and verify the data of the transaction before sorting it into a memory pool<\/a>, mempool for short.<\/p>\n\n\n\n

Once in the memory pool, transactions are put into a candidate block<\/a>. If the miner is successful with the following steps the candidate block is added to the blockchain, giving this miner a reward for their efforts.<\/p>\n\n\n\n

Step 1 - Hashing Transactions<\/h3>\n\n\n\n

A miner will take transactions from their memory pool, and put them through a hash function. A hash function turns any piece of data, no matter how big into a fixed size, called a hash. In this context, all of the data of the transaction is turned into a 'transaction hash'.<\/p>\n\n\n\n

Along with this, the miner will create a separate block with a transaction called the coinbase<\/em>. This separate block will give them their mining reward if their candidate block is successful, although it can contain any arbitrary data.((https:\/\/en.bitcoin.it\/wiki\/Coinbase))<\/p>\n\n\n\n

Step 2 - Create A Merkle Tree<\/h3>\n\n\n\n

After transactions are hashed they're organized into a Merkle Tree or Hash Tree. <\/p>\n\n\n\n

This process links two transactions together, hashes them, and repeats the process over and over until all data is encoded under one singular hash, called the Merkle Root or Root Hash.<\/p>\n\n\n\n

\"Merkle
Credit: bitcoininsider.com<\/figcaption><\/figure>\n\n\n\n

Step 3 - Find A Valid Block Hash<\/h3>\n\n\n\n

To create a valid block hash, a miner has to combine the hash of the previous block, with their root hash, and an arbitrary number called Nonce<\/a> (number used only once).<\/p>\n\n\n\n

The nonce number is changed until a valid hash is found, as the hash of the previous block and the root hash cannot be changed.<\/p>\n\n\n\n

In order to be considered valid, the block hash must be less than a certain target value determined in the protocol<\/a>. In Bitcoin mining, the block hash must start with a certain number of zeros. This is what we call mining difficulty.<\/p>\n\n\n\n

What Is Mining Difficulty?<\/h4>\n\n\n\n

The cryptocurrency mining difficulty is adjusted by the protocol regularly. This ensures that the rate at which new blocks are mined remains constant. <\/p>\n\n\n\n

This is what makes the issuance of new coins steady and predictable. The difficulty adjusts in proportion to the amount of computational power or mining hash rate<\/a> on to the network.<\/p>\n\n\n\n

This means as more miners join the network the hashing difficulty gets harder. Likewise, if miners leave the hashing difficulty is easier. Allowing for a steady flow of blocks being mined.<\/p>\n\n\n\n

Step 4 - Broadcast The Block<\/h3>\n\n\n\n

Once a miner finds a valid block hash, the miner who found it will broadcast it to the entire network of other miners\/nodes. The nodes will confirm that the block and its hash are valid. If they find it is valid, the block is added to their copy of the blockchain. <\/p>\n\n\n\n

The previous candidate block has now become a confirmed block. The miners now move on to the next block. The miners whose candidate blocks weren't successful discard it and repeat the process in hopes of having the next confirmed block.<\/p>\n","post_title":"Cryptocurrency Mining","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"cryptocurrency-mining","to_ping":"","pinged":"https:\/\/www.thedistributed.co\/what-are-nodes\/\nhttps:\/\/www.thedistributed.co\/what-is-a-cryptographic-nonce-a-number-only-used-once\/\nhttps:\/\/www.thedistributed.co\/what-is-a-mining-hashrate\/\nhttps:\/\/www.thedistributed.co\/what-is-a-mempool-cryptocurrency-memory-pool\/\nhttps:\/\/www.thedistributed.co\/what-is-a-blockchain-protocol\/\nhttps:\/\/www.thedistributed.co\/what-is-distributed-ledger-technology\/","post_modified":"2022-07-25 00:47:38","post_modified_gmt":"2022-07-24 14:47:38","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3527","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3471,"post_author":"1","post_date":"2022-02-15 20:49:02","post_date_gmt":"2022-02-15 09:49:02","post_content":"\n

A mining hashrate is the amount of processing power a miner or network has to process transactions onto a blockchains ledger<\/a>.<\/p>\n\n\n\n

The hashrate of a miner<\/a> refers to the number calculations a rig can solve per second, known as a hash. <\/p>\n\n\n\n

The hashrate of a network refers to the hash rates of all miners<\/a> on a specific network.<\/p>\n\n\n\n

Why Is Hashrate Important?<\/h2>\n\n\n\n

Hashrate can measure the health and security of a network against potential attackers. Having a higher hashrate means a 51% attack<\/a> is unlikely due to the high amount of computational power needed. The more computational power or nodes<\/a> within a network, the more secure it is.<\/p>\n\n\n\n

Hashrate is also a metric that can measure the profitability of miners. For a single mining device having a high hashrate means that you'll increase your compensation for the work you put in, giving you a better reward.<\/p>\n","post_title":"Mining Hashrate Explained","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"mining-hashrate","to_ping":"","pinged":"https:\/\/www.thedistributed.co\/what-is-a-51-attack-on-a-blockchain\/\nhttps:\/\/www.thedistributed.co\/what-are-nodes\/\nhttps:\/\/www.thedistributed.co\/what-is-distributed-ledger-technology\/","post_modified":"2022-06-02 22:17:31","post_modified_gmt":"2022-06-02 12:17:31","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3471","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3401,"post_author":"1","post_date":"2022-02-07 19:10:06","post_date_gmt":"2022-02-07 08:10:06","post_content":"\n

What Is SHA-256?<\/h2>\n\n\n\n

Securing Hashing Algorithm 256 (SHA-256) is the hashing algorithm used to secure blockchains such as Bitcoin, where the hashing function<\/a> emits a 256-bit wide output. <\/p>\n\n\n\n

The hashing algorithm is responsible for wallet address creation and management along with the verification of transactions on the blockchain ledger<\/a> through mining<\/a>. ((Bitcoin Wiki - SHA-256<\/a>))<\/p>\n\n\n\n

How Secure Is SHA-256?<\/h2>\n\n\n\n

SHA-256 is a variant of the SHA-2, which was initially developed by the National Security Agency.((Federal Register - Announcing Approval of Federal Information Processing Standard (FIPS) 180-2, Secure Hash Standard; a Revision of FIPS 180-1<\/a>)) This means that the inner workings of the algorithm aren't known to the public as it protects sensitive information belonging to the United States. <\/p>\n\n\n\n

It is practically impossible to reveal the initial data from a hash value as they are only one-way functions. <\/p>\n\n\n\n

Bitcoin utilizes a double SHA-256, meaning once they get the initial hash from the data, it is hashed once again - this creates an insurmountable amount of possible hashes basically eliminating the chance of a brute-force attack<\/a> as it would take 2^256 attempts to generate the initial data,((N-able - SHA-256 Algorithm Overview<\/a>)) more than the number of atoms in the universe.<\/p>\n","post_title":"SHA-256","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"sha-256","to_ping":"","pinged":"https:\/\/www.thedistributed.co\/what-is-a-51-attack-on-a-blockchain\/\nhttps:\/\/www.thedistributed.co\/what-is-distributed-ledger-technology\/\nhttps:\/\/www.thedistributed.co\/a-guide-to-cryptocurrency-mining\/","post_modified":"2022-07-31 23:20:17","post_modified_gmt":"2022-07-31 13:20:17","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3401","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

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