• Posts
  • RSS
  • ◂◂RSS
  • Contact

  • "Hashrate" is Currency-Specific

    November 3rd, 2017
    bitcoin  [html]
    Sometimes people will compare Bitcoin and Ethereum by saying things like:

    BTC uses 11 exahash/second, while ETH uses just a millionth of that at 10 terahash/second.

    In cryptocurrency "hashrate" means "how many nonces can you try in a second", but this depends dramatically on how much work it is to try a nonce. With Bitcoin you hash a small amount of data while the developers of Ethereum intentionally chose to require much larger inputs. The Ethereum white paper describes this as:

    The Bitcoin mining algorithm works by having miners compute SHA256 on slightly modified versions of the block header millions of times over and over again, until eventually one node comes up with a version whose hash is less than the target. ... The current intent at Ethereum is to use a mining algorithm where miners are required to fetch random data from the state, compute some randomly selected transactions from the last N blocks in the blockchain, and return the hash of the result. [See Ethash.]
    Any coin that becomes worth a lot will lead to special-purpose hardware (ASICs) for mining it unless it's specifically designed, like Ethereum, not to be amenable to that. So BTC is mined mostly on Bitcoin ASICs, LTC on Litecoin ASICs, DASH on Dash ASICs, etc. So people will often speak of hashrate as if it's a property of the device. In these cases it's just that there's usually just one coin that the device is well suited to mine.

    Comment via: google plus, facebook

    Recent posts on blogs I like:

    What should we do about network-effect monopolies?

    Many large companies today are software monopolies that give their product away for free to get monopoly status, then do horrible things. Can we do anything about this?

    via benkuhn.net July 5, 2020

    More on the Deutschlandtakt

    The Deutschlandtakt plans are out now. They cover investment through 2040, but even beforehand, there’s a plan for something like a national integrated timetable by 2030, with trains connecting the major cities every 30 minutes rather than hourly. But the…

    via Pedestrian Observations July 1, 2020

    How do cars fare in crash tests they're not specifically optimized for?

    Any time you have a benchmark that gets taken seriously, some people will start gaming the benchmark. Some famous examples in computing are the CPU benchmark specfp and video game benchmarks. With specfp, Sun managed to increase its score on 179.art (a su…

    via Posts on Dan Luu June 30, 2020

    more     (via openring)


  • Posts
  • RSS
  • ◂◂RSS
  • Contact