The Notion Of Bitcoin Mining Puzzle

In the process mining Bitcoin, Puzzle Bitcoin is used as a way to be able to control the passage of consensus bitcoin. Bitcoin puzzle or "mining puzzle" is core Bitcoin. Miners who managed to solve this puzzle, will earn rewards in the mining process.

Puzzle Bitcoin serves to mengotrol the consensus as each miner also limited its ability to the level of difficulty in mining. Hence, the consensus is that mining can also be controlled and adjusted based on degree of difficulty at the time.

In the discussion of the complete explanation of the Bitcoin mining, we have to understand how the level of difficulty for the purposes of mining mining ecosystem condition. The miners raced each other, in order to solve the puzzle bitcoin faster and more efficient. So hope to increase profits over the effort in mining in the ecosystem.

For the miners, solve the puzzle more quickly and efficiently, naturally expected to minimize the cost of their computing power. In this case, of course quite a puzzle design plays an important role. Especially as a command and guide the participants mining Bitcoin.

In addition, there are several Bitcoin puzzle design is another puzzle that can be applied. We can also modify the Bitcoin puzzle, or even designing your own puzzle from the beginning. For example, in the design of the puzzle in Altcoin, we might have heard of the existence of a puzzle are ASIC Resistant. So the puzzle on the expected Altcoin cannot be solved for the ASIC.

The puzzle is this Resistant ASIC, deliberately made like that to be able to open wide opportunities of users who have regular device only (CPU/GPU). In doing so, mining became more diverse ecosystems and minimize the risks of mining chain mastery. Because everyone with a limited device can also participate in mining.

The Basic Requirements Of The Bitcoin Puzzle

There are three main requirements in the preparation puzzle Bitcoin. All three are:

•      The difficulty level can be adjusted
  

•      Easy to verify
  

•      Minimize the miners with a hash of the great power always win the race puzzle solving.
  

Bitcoin puzzle, should be able to quickly in the verification process. Each node in the network, as well as validating the puzzle solution. Likewise also for nodes that are not involved in the process of mining, such as node SPV. Because the SPV, the client is not involved in the process of mining, they ceded the mining process entirely on the miners.

Because the verification process solutions puzzle that's expected to run quickly, then the puzzle difficulty levels are also organized in order to comply with the conditions of the mines. Difficulty level mining, may change from time to time.

Typically, this puzzle difficulty levels change, adjusting with a total hash of the power in the network. So, the level of difficulty of the Puzzles can increase levels of Bitcoin, difficulty, or thus decreased. In the Bitcoin Puzzle difficulty levels, Bitcoin, will allow the change or even stable within about 10 minutes.

Bitcoin puzzle, also called Hash Preimage Puzzle. It is called so because it aims to be able to find the value of the hash output. This hash output, its value must be below target. More details can be read on the deliberations of the full explanation Strikes Bitcoin.

There is a puzzle in the Bitcoin, meet the criteria requirements above. In this case, the hash-based structured Bitcoin puzzle SHA-256. With SHA-256-based, for tinkering with the single parameter are arbitrary can be more difficult. But for the process of checking the solution of the puzzle can be done easily, regardless of difficulty level.

For the third requirement, it is quite important in shaping ecosystems healthy and dynamic mining. The third requirement is the meaning is, that the puzzle must be able to have a comparable proportion of nature with the hash that is used by miners.

Miners who have hash power both large and small, both have the same chance to be able to solve the puzzle. So even though the miners have a great hash, the chance of power gain at the next puzzle solving is also proportionate. As well as also small miners alike have the opportunity that the hash based on the proportional power.

If not prepared with this puzzle meets these requirements, then the miners with large hash power managed to find a new block, certainly could afford to be big winners in the new block-block next. The miners so that there will always be a winner in solving block-block next.

Conversely, if the puzzle is structured properly and meets the requirements of progress freeness, on each puzzle solving race would equally have odds of solving the puzzle proportionately. In accordance with the amount of power the hash owned and contributed in mining.

So drafting a good puzzle, is trying to let the miners with a great power, the hash will not always win the race in solving the puzzle. Because of the big miners, however, for they will always need more power with a bigger job.