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Clear and simple explantion of the basics of Bitcoin mining

medium.com

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Re: Clear and simple explantion of the basics of Bitcoin mining

#2
> To create a new page, the mining network is assigned a sort of puzzle, called a hash function, by the Bitcoin program. Solving this type of puzzle takes many resources- expensive ASICs and a lot of electricity to run them around the clock. The name of this puzzle is known as the hash function SHA-256.

The article skips the notion of Proof of Work, which is the formal term for the puzzles. And puzzles can take many forms besides finding small outputs of a hash function [1]. The latter is just Hashcash, of which Bitcoin's PoW is an instance.

[1] https://cryptorials.io/beyond-hashcash-proof-work-theres-min...