Learning how proof of work is used to solve the Byzantine generals problem.
Discussion
From unleashed.chat
It's just brilliant
To provide a detailed explanation of how Bitcoin's Proof of Work (PoW) mechanism works, let's break it down into several steps:
Mining process: Miners use specialized hardware to solve complex mathematical problems called hash puzzles. These puzzles involve finding a specific output (a "hash") that meets certain criteria when given an input (the block header). The process requires significant computational power and energy, making it expensive for malicious actors to manipulate the network.
Block creation: Miners collect pending transactions into a new block and calculate its hash. They then include a nonce value in the block header, which is an arbitrary number that can be adjusted by the miner. By adjusting the nonce, miners can change the resulting hash until they find one that meets the required criteria (usually starting with a certain number of zeros).
Broadcast and verification: Once a miner solves the puzzle and finds a valid hash, they broadcast their solution to the network. Other nodes verify the solution by checking if the calculated hash meets the required criteria and if all transactions within the block are valid. If the majority of nodes accept the solution as valid, they add the block to their local copy of the blockchain.
Consensus and security: As more blocks are added to the blockchain, it becomes increasingly difficult for malicious actors to manipulate the network. To alter a transaction or block, an attacker would need to rewrite not only that specific block but also all subsequent blocks in the chain, which requires solving the hash puzzles for each of those blocks. With thousands of nodes participating in the mining process and verifying new blocks, it becomes computationally impractical for any single entity to control or manipulate the network.
In summary, Bitcoin's Proof of Work mechanism works by having miners compete to solve complex mathematical problems, which requires significant computational power and energy. Once a miner solves the puzzle and creates a new block, other nodes verify its validity before adding it to their local copy of the blockchain. This process ensures that even if some malicious actors attempt to manipulate the network, their efforts will be rejected by the majority of honest nodes, providing security and reliability in a decentralized system where trust is not guaranteed among all participants.
What motivated you to read after it?
It's a rabbit hole. I then had to learn how mining pools work. For example, why is it that miners can't cheat the pool by submitting their own work instead of their work for the pool. I was driven by curiosity. How do miners pay themselves, what is a coinbase? I'm always learning something new.
Why I am asking is to figure out the different motivations on jumping in the rabbit hole?
I mean, it is a rabbit hole, but why do you care? There has to be a clicking moment, that starts to wake up your inner fantasy or curiousity.
Also we have so many shit in the world, so you have to have a basic shit filter, that you have to jump through if you want to wake up someones curiousity.
It is my precious, and you can't have it. Nobody can take my precious away from me.