Can someone explain that or point me to the right direction? Thanks!
710 sats \ 0 replies \ @HardMoney 2 Dec 2023
It technically takes 1 hash to mine a block.
But to find that 1 hash every 10 minutes it’s takes the whole 460 exahash network because of the difficulty adjustment.
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411 sats \ 4 replies \ @Scroogey 2 Dec 2023
First, read about the concept of 'difficulty'. The network aims for one new block every 10 minutes. Hashrate fluctuates as miners go online or offline. If new blocks arrive too fast or slow, difficulty is automatically adjusted by the network to compensate. It's like a threshold, the miners need to find a hash lower than this value to succeed.
Based on the current difficulty, one can estimate how many hashes need to be tried, on average, to find one that passes the threshold. Similar to how you can estimate how many combinations you need to try on a combination lock to find the right one, given the number of digits required (more digits means higher difficulty).
The web sites that show graphs of hashpower show this estimate, over time. Compare the graphs for difficulty and hashpower, they have the same form, because one is derived from the other.
A miner who successfully mines a block might actually know exactly how many hash operations they did to find it, which might be different from the estimate. But I don't think they collaborate and report that for accounting anywhere. Someone correct me if I'm wrong.
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1 sat \ 3 replies \ @megaptera OP 2 Dec 2023
Thank you for your explanation. I'm more or less familiar how mining works but I don't get how or if this is possible.
My post was referring to news like that: #331434
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0 sats \ 2 replies \ @Scroogey 2 Dec 2023
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1 sat \ 1 reply \ @megaptera OP 2 Dec 2023
So this "news" is basicaly just crap.
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1 sat \ 0 replies \ @NewsnNudes 2 Dec 2023
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1 sat \ 0 replies \ @kristapsk 2 Dec 2023
You never know for sure. First, you can always be lucky and find a block with low hashrate, it's like a winning a lottery. Secondly, sites that show current hashpower basically just compares current difficulty with average time between blocks in a certain period and from that calculate approximate total hashrate of the network.
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0 sats \ 2 replies \ @Scroogey 2 Dec 2023
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1 sat \ 1 reply \ @HardMoney 3 Dec 2023
Hash fluctuates based on how many machines are turned on at a given time. I believe it’s more of an estimate as the number would fluctuate due to a variety of factors. Hash would drive block time which in turn drives difficulty. Difficulty would be fixed for ~2 week increments and change based on how fast blocks are solved within a 2016 block epoch
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0 sats \ 0 replies \ @Scroogey 3 Dec 2023
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