after watching like 50 videos on cryptography related to mining, you explained it simple enough for most people to understand....bravo. most videos gloss over the details of the "work" being done in Proof of Work. thanks!
the best vid. on how mining works. very logical excellent details no other videos do that. i always wondered what mathematical problems miners need to solve. and thanks to you here it is in simple straight forward way. Congratulations
What I understand is that miners trying to find a hash with a specific target(difficulty) and from there it is not important what is the hash value. It is just important to be in the same target range. Is that correct?
They are not trying to find a hash, they are guessing the nonce. So imagine if the block hash was composed by 4 hexadecimal number and the target is 00, which means that you need to find the nonce whose generated block hash is small or equals to 0x00FF, if I understood correct, so the first one to find it wins.
Excellent video bro, you just made the concepts crystal clear for me. And I don't think you made a mistake in the previous block hash either. Since the blockchain algorithm is changing the target hash according to the hashing power of the network, it is possible for the algorithm to have assigned a larger target hash (due to low hashing power in network) in the previous case to reduce the difficulty. It is theoretically possible that just after mining the previous block, network's hashing power was exponentially increased so that the algorithm assigned a lower target hash to increase the difficulty. Anyway, really glad that I found this video. Keep doing the good stuff !!
how do you know what the target is? does the program tell it to you? and also how do the big mining facilities work? i guess there isnt a dude typing in different nonces to find the hash? i guess this is all fully automatic right?
Thanks for the fantastic video. Though, I am still wondering how the complexity of this puzzle is decided because mining is increasing difficult. And how has it been programmed to ensure the complexity increases? For example, in this video it is 4 leading zeros. Why was it not chosen to have something "above" 4 leading E (hex). Or if there exist anything like that? Is there a way to know how many leading zeros is needed as on today to generate and add a block? Then, there are so many transactions happening everyday. A block can store only a limited number of transactions. What happen to the other transactions? Do they just remain queued while it is taking many days or weeks to form a new block?
"Is there a way to know how many leading zeros is needed as on today to generate and add a block? " . im also wondering about this.. how did the target zero will be defined.
I'm curious! What if the miner solves the puzzle until they find a Nonce value that produces the Exact current block's hash value. Will that be regarded as successfully validating the block? I was thinking all this while that's the purpose of mining. Getting a Nonce value that will yield/produce the block's exact Hash value
My question is, if the miners are running sha 256 for more than trillion times, how they are even able to put trillion Nonce in such a small time span?
Mining hardware is extremely specialized to perform these operations quickly. The nonce space is actually only 32 bits, so the number of possible nonces is only around 4 billion, and miners need to change other parts of the block as well, usually the contents of the coinbase transaction, or swapping transaction order. For every such change, 4 billion new attempts can be made.
after watching like 50 videos on cryptography related to mining, you explained it simple enough for most people to understand....bravo. most videos gloss over the details of the "work" being done in Proof of Work. thanks!
Your welcome
thanks!!! saved this video, after years of searching finally found a vidoe that explains the cryptographic puzzle
Great to hear!
the best vid. on how mining works. very logical excellent details no other videos do that. i always wondered what mathematical problems miners need to solve. and thanks to you here it is in simple straight forward way. Congratulations
Thanks.❤️
Brilliant. Well done 👏
Super! My concepts were very clear after watching your videos. Thank you for the amazing content.
You're most welcome
incredible video 👍
Great explanation, thanks !
Bro you are the best explaining this
Thank you so much!
This video about nonce makes me wonder why are the others so vague. Thanks
What I understand is that miners trying to find a hash with a specific target(difficulty) and from there it is not important what is the hash value. It is just important to be in the same target range. Is that correct?
They are not trying to find a hash, they are guessing the nonce. So imagine if the block hash was composed by 4 hexadecimal number and the target is 00, which means that you need to find the nonce whose generated block hash is small or equals to 0x00FF, if I understood correct, so the first one to find it wins.
Excellent video bro, you just made the concepts crystal clear for me. And I don't think you made a mistake in the previous block hash either. Since the blockchain algorithm is changing the target hash according to the hashing power of the network, it is possible for the algorithm to have assigned a larger target hash (due to low hashing power in network) in the previous case to reduce the difficulty. It is theoretically possible that just after mining the previous block, network's hashing power was exponentially increased so that the algorithm assigned a lower target hash to increase the difficulty.
Anyway, really glad that I found this video. Keep doing the good stuff !!
Thanks @kosalaharshadewa5317
how do you know what the target is? does the program tell it to you? and also how do the big mining facilities work? i guess there isnt a dude typing in different nonces to find the hash? i guess this is all fully automatic right?
Your lessons are amazing !
Thank you! 😃
thank youuuu , hours of youtube video to understand it until i sew youre video
Thanks for the fantastic video. Though, I am still wondering how the complexity of this puzzle is decided because mining is increasing difficult. And how has it been programmed to ensure the complexity increases? For example, in this video it is 4 leading zeros. Why was it not chosen to have something "above" 4 leading E (hex). Or if there exist anything like that? Is there a way to know how many leading zeros is needed as on today to generate and add a block? Then, there are so many transactions happening everyday. A block can store only a limited number of transactions. What happen to the other transactions? Do they just remain queued while it is taking many days or weeks to form a new block?
remaining transactions go to the mempool.
"Is there a way to know how many leading zeros is needed as on today to generate and add a block? " . im also wondering about this.. how did the target zero will be defined.
finally I got it, many thanks
Would the new hash be considered the Merkle tree root hash, or is the Merkle root hash calculated beforehand and added as part of the block header?
Great description
Thanks!
Superb job! Subbed.
Give this #Adriannotch man a Nobel Peace Prize. He truly deserves it.
I'm curious! What if the miner solves the puzzle until they find a Nonce value that produces the Exact current block's hash value. Will that be regarded as successfully validating the block? I was thinking all this while that's the purpose of mining. Getting a Nonce value that will yield/produce the block's exact Hash value
There is another error in your slides: It says "Nonce = 143" on the right side, while left is Nonce: 177". See for example @13:25
Thanks for informing us, we will update it soon.
Very nice
My question is, if the miners are running sha 256 for more than trillion times, how they are even able to put trillion Nonce in such a small time span?
Probably they dont do it on sequency. They generate random numbers trying to find the correct one.
Mining hardware is extremely specialized to perform these operations quickly. The nonce space is actually only 32 bits, so the number of possible nonces is only around 4 billion, and miners need to change other parts of the block as well, usually the contents of the coinbase transaction, or swapping transaction order. For every such change, 4 billion new attempts can be made.
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what the fuck i just literally paid for this course seriously on udemy 😡
well done! the only video that makes sense to me re🧩