Mohit Mamoria has written a 3500-word guide in plain English to understanding Blockchain. Unlike every other post on the internet, instead of first defining the Blockchain, we’ll understand the problem it solves. Best explanation I’ve read so far. WTF is The Blockchain? → Speaking of Blockchain, things could go very wrong for Bitcoin on August …
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Mining Bitcoin with pencil and paper: 0.67 hashes per day
It turns out that the SHA-256 algorithm used for mining is pretty simple and can in fact be done by hand. Not surprisingly, the process is extremely slow compared to hardware mining and is entirely impractical. But performing the algorithm manually is a good way to understand exactly how it works. Mining Bitcoin with pencil …
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