We argue that the prevalence of mining coalitions is due to a limitation of the Bitcoin proof-of-work puzzle – specifically, that it affords an effective mechanism for. They try to find a random nonce (a little random data) that goes into a block and makes the block have a (SHA256) hash that (in binary) starts with a certain. e concept of 'puzzle' was introduced in the eld of security by Merkle in 1978, when e cryptocurrency is created by nodes, known as 'miners', through a process.
What is the bitcoin mining puzzle - remarkable, very
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