• 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:

    Learning Worst Industry Practices

    If I have a bad idea and you have a bad idea and we exchange them, we now have two bad ideas. But more than that. If I have a bad idea and you have a good idea and we exchange them, we should both land on your good idea – but that requires both […]

    via Pedestrian Observations September 20, 2020

    Collections: Iron, How Did They Make It? Part I, Mining

    This week we are starting a four-part look at pre-modern iron and steel production. As with our series on farming, we are going to follow the train of iron production from the mine to a finished object, be that a tool, a piece of armor, a simple nail, a w…

    via A Collection of Unmitigated Pedantry September 18, 2020

    Learning Game

    I came up with this game. In the game one person thinks of something and then gives the other person a clue. And the other person writes a guess down on a blackboard or a piece of paper. Or really anything you have that's laying around that's av…

    via Lily Wise's Blog Posts September 17, 2020

    more     (via openring)


  • Posts
  • RSS
  • ◂◂RSS
  • Contact