Can anybody explain relations or formulas between share difficulty, target and hashrate?
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Let’s have a look at the hashrate and difficulty of a Musicoin blockchain (similar to Ethereum, same as a Dagger Hashimoto algorithm). The values are smaller than you think, so I hope it will be easier for you to understand the idea this way.
Each cryptocurrency network has a “block time” parameter. In Musicoin the block time is 15 seconds. Let’s assume that all miners around the world are solving a big puzzle. Each piece is called a block.
A musicoin block is found every 15 seconds in an ideal world. But this is not the case, so sometimes it could be 1 second or even 1 minute. However, the average block time is 15 seconds.