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How to Mine Bitcoin Profitably Hashes Protect The Integrity Of The Blockchain Miners search for SHA256 hashes of new block headers [22] SHA256 example: The quick brown fox jumps over the lazy dog c03905fcdab297513a620ec81ed46ca44ddb62d41cbbd83eb4a5a3592be26a69 Blockchain hashing: Field Version hashPrevBlock hashMerkleRoot Purpose Block version number Updated when... New protocol version Size (Bytes) 4 32 32 4 4 4 256-bit hash of the previous block header A new block comes in 256-bit hash based on all of the transactions in the block A transaction is accepted Current timestamp as seconds since 1970-01- 01T00:00 UTC Every few seconds Current target in compact format The difficulty is adjusted Time Bits Nonce Block 345 981 32-bit number (starts at 0) A hash is tried (increments) Hash 000000000000000003e560d227c225b5cdf 7bcee3358d53222d5d0af 6240db4d Presented at University of Iceland, April 17, 2015 Sveinn Valfells, PhD & J ́on Helgi Egilsson Minting Money With Megawatts / 23 1PDF Image | Minting Money With Megawatts
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