- so they have a penalty for cheating.
- they would have to remine the continuing blocks faster than the network.
- based on the hash power. If hash power is high the difficulty is high to maintain an approximate 10 minute block time.
to incentivize them to get the block reward and transaction fee
because changing a prevsiouly added block nullifies all subsequent blocks in the chain
The higher the target the less difficulty to mine
- by spending a lot of electricity to pruduce thee new blocks that incsentevise the miners to keep it honest by the book whit allso calls POW proof of work
2.to changing a previosuly mine block that would change all the hashes off all the blocks that comes after
3.by changing the nonce every second between 1 and something like 4.2 billioins and then it changes the target for this uppcoming block
- So they lose money if dishonest
- They have to convince 51% of the network to change that one block and all the following.
- The protocol lowers and raises the difficultly to keep blocks as close to 10 mins apart as possible.
The nonce is a number you need to add in a block before hashing it. that hash needs to be lower than the target.
Network difficulty gets regulated by changing the target every 2016 blocks. depends if the average time between blocks is higher or lower than 10 minutes. The purpose is to keep an average of 10 minutes.
If you wouldnât adjust difficulty, then when more miners mine, the faster the probability that a block gets mined
thank for that i know 
how ever ivan never talk in the class about the timestamp of the nonce did you know that the nonce is shifting every one second meaning if you mining rig cant go thru all the nonces i under one second all your effort will be in vain thats how mining pools where created in the begingen
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1- By making them spend money on electricity we give them incentive to mine new blocks in order to earn block reward + tx fees in order to recoupe their cost + make some earnings
2- Because each block is creating by hashing its own transaction data and a nonce together with the hash of the previous block. This means that any change in an old block would require re-mining all of its following blocks. Therefore while a miner would try to change an old block and re-mine all the following blocks, all the other miners would be during this time adding new blocks the blockchain and would in practice outpacing him which would make it infeasible for him to get his new blockchain accepted by the network.
3- It is regulated by increasing or reducing the target hashing for each block. When difficulty needs to be increased, the target hash is reduced which reduces the number of available possibilities for the miners.
no, I donât know. Iâm not a miner. please explain,
Iâm also trying to learn as much as possible 
asics wouldnât have a issue to do it fast enough I guess 
i am not a miner just a crypto geek ahahah but i will try as good as i can to explain
weel this is a specific clock i dont really remember what it is called however they started it back in the 70`s and it just like a regular clock except one minor change it dosent measur time the only thing it really dose is to count seconds so it has counted seconds for like 50 years back to topic dosent matter if you do have asic or not you just need a lot of raw hash power how come you wondering i will tell you the nonce in every block has it own time stampel that means that after one second if you dont go true all the 4.2 billions nonce (rounded the nummer down for easy explanation) well in simpel terms if you have a computer whit the hash power of just 4 billions hashes per second that means that there is 200 miljon nonce that you havent tried out yet and thats becomes a problem because for every passing second all you 4 billions nonce becomes valid once again⌠this problem hade just one selution miningpools where the pool asign you to your mission in simpel terms let say you the first billion and then med the rest or other people as many as there are in the mining pool so it becoms easier as you know just finding the right nonce is not all that there is to mining affter finding the right nonce you then have to put in the right and i mean right transactions so that whit the nonce and transactions aswell as the hash from then block before⌠hope i shed som light in the aspect of mining ?
take care and be the best
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to incentive them to play by the rules to get the Blockreward and the fees
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Because then all the hashes would have to change in the Blockchain and has to be mined once again, including the newest Blocks. This would take much more Power (and money) then to âplay by the rulesâ
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By regulating the Target Number. If there is much Computing power (hash power), then the target goes down, so it gets more and more difficult to create a hash that is low enough. If there is less computing power, then the target goes up and it gets easier to get a working hash.
- It incentives them to mine blocks as to receive the block reward as well as the transaction fees included in the block.
- If a previous block is changed in any way the hash of that block changes and therefore all subsequent blocks hash change as well⌠The link between the blocks have been changed and the blocks have to be remined by said party and will be very difficult to catch up with the valid blocks as there are more hashrate mining the longest chain.
- By increasing and lowering the target level that the hash has to be for it to be included in the blockchain⌠This is done be the number of miners and hashrate present at the time of mining.
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There needs to be a risk or cost associated with mining. To attempt to falsify a blockchain would cost such a large amount of electricity [because of the computing power involved] that it would be a huge risk for an almost guaranteed failure. The cost acts as a positive reinforcement mechanism to ensure integrity of validation. The two types of fees paid to miners incentivise the production of blocks, but the upfront cost of block production itself helps to keep mining in line.
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The Hash of the current block is made by taking 3 elements from the block preceding it. These are; [HASH]+[TX]+[NONCE] - they are taken together and then hashed. Because the previous hash was generated in this same way, and because changing any element of a hash will radically alter the character string produced, this cryptographic security is âbakedâ into every block and is a one-way process. To go back and change any element of any bock would change all the subsequent hashes derived from it, and would invalidate everything - because all hashes would be totally different. Hashing the Hashes creates a dynamic security.
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There are a few moving parts to consider. The difficulty rate to which mining is set is determined by the size of the number in the nonce - or the âdifficulty levelâ of the nonce. If there are fewer miners, the nonce âdifficulty levelâ automatically adjusts to become easier. But if there are more miners, it adjusts the other way, and the nonce number becomes harder to solve.
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Proof of Work: Because it demonstrates that solving the nonce took them a considerable investment. Itâs an incentive to follow the rules and add security to the process.
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Because each block contains hashed information about the previous blocks. If someone were to change information on a previously added block theyâd need to mine again the whole chain of succeeding blocks.
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Difficulty is relative to the amount of participants in the network. The more people participates, the higher the hashing power, the greater the mining difficulty. Difficulty is increased by getting a lower target to guess the nonce.
- Why is it important to make sure that miners spend money (on electricity) while mining?
It is a mechanism to create a risk reward environment which prevents dishonesty in the processing of the network. Miners are having to invest capital just to compete in the race to earn block rewards and transaction fees so they are incentivised to follow protocol.
- Why would it be very difficult for someone to go back change a previously added block?
The way mining difficulty scales to the network collective hash power makes it highly improbable that a âbad actorâ in the network can accumulate enough hashing power to out perform the network as a whole. A successful mining attack would need to control over half of the total networks processing power to adjust an existing block âthenâ have to re-mine all the successive blocks from that point on.
- How does the network regulate mining difficulty?
The protocol self adjusts the number of acceptable hashes that are able to be âguessedâ by the mining process. If there is a large amount of hash power present in the network the target number of correct answers are reduced. This is adjusted roughly fortnightly as the hash capacity of the network ebs and flows. The goal is to maintain a 10min blocktime relative to the capacity of the networks hashing power.
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They then have an invested interest in being profitable. If they put in bad code their work get rejected and they just waisted a lot of electricity to put out a bad transaction that the rest of the miners will reject because they are motivated to will the mining rewards and transaction fees to pay their electricity bills.
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Because the hash of current blocks would change which would break the chain and the rest of the miners would see what you did and reject what you did because they will always go with the longest block. while you are spending a lot of electricity to undo an old block you have more blocks being confirmed by the miners . The majority of the miners will always trying to be mathematically honest so they can win the next reward.
3.The difficulty is adjusted every 2 weeks. The target depends on the difficulty of the hash rate. the target is lowered when there are more miners. Meaning that the random guesses of the Nonce are less likely to guess, which would be the hash that would complete the the block.
- So that they are invested and are incentivized to make back their money with block rewards and transactions. It makes them âpay up frontâ
- Because not only would they need to change the previous block, they would need to change the link as well and the block and after that and the link after that etcâŚIt would end up taking thousands of years and so much money its virtually impossible.
- If there are more miners on the network, then the puzzle is harder to solve. The target number is lower so the nonce they need to find takes longer and more tries which takes more electricity and money.
- To prevent them from cheating. If miner cheats he lose money on electricity.
- Because someone would have to catch up the whole process of mining in less than 10 minutes if he changed something in last block and to achieve that he needs more than entire network hash rate power.
- It is regulated by so called target number. This number is opposite correlated with difficulty.
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Because it provides incentive to play by the rules in order to not waste their money and time mining, but instead be first to generate the qualifying hash and get payed.
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It would be a futile exercise because they could never solve ALL future blocks hash targets in order to cover their trail. The rate of future block production far exceeds the speed they could possibly mine. And if the hash puzzle is online verified (ie, not local) then I cant imagine AI hash generators being much of a threat, because they would still be governed by the network ping rate no matter how fast they could spit out new Nonces.
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When their are more miners on the network, the hash rate (hash computing power) increases, and to compensate and slow down block creation, the target hash (cryptographic puzzle) becomes lower. A lower number target hash is more difficult to solve, as the window/target that a minerâs randomly generated hash must fall within gets even smaller.
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It causes them to be incentivized to play by the rules. Because they must pay for the electricity, and if they break a rule, they are basically wasting the money spent on the electricity.
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Because it would change the hash of that block and all following blocks. Which would make it necessary for them to also re-mine all of these blocks way faster than all other miners combined to end up with the longest chain.
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By setting the nonce lower or higher so that it will take approximately 10 minutes to create each block based on the current total mining hashrate.
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Why is it important to make sure that miners spend money (on electricity) while mining?
It is important because it keeps them incentivised, they would be eager to recoup their losses by competing to get the block reward & transaction fees. -
Why would it be very difficult for someone to go back change a previously added block?
It would be difficult because the links (puzzles) are based on the content of the previous blocks, therefore all the links will be broken, if a previous block has been tempered with. -
How does the network regulate mining difficulty?
Mining difficulty is regulated by being proportionate to the hashrate of the network. Therefore the more miners. the lower the target number (nonce), making it more difficult & energy expending to guess correctly.
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