January 2019
Beginner to intermediate
372 pages
11h 17m
English
Content preview from Foundations of Blockchain
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Mining a block
Any node in the Bitcoin network can create a block and call itself a miner. A miner has to run a Bitcoin node maintaining the full blockchain. Although mining operations can be performed with minimal hardware requirements, due to high competition among Bitcoin nodes, mining on standalone computing hardware with a minimal hardware configuration is no longer profitable. This is why Bitcoin miners often run specialized computer hardware with higher processing power, such as GPUs.
Due to the increased competition among miners, the mining difficulty of Bitcoin increased. Miners started building specialized integrated circuits designed specifically for mining purposes. These specialized integrated circuits are known as Application-Specific ...
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