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First of all what does is mean when we say miners search for a specific hash, and when first miner finds it, others are going to compete for next hash ? If I'm a miner I'm going to find numbers smaller than hash target and create a pool of these numbers, then I'm going to use these numbers to add different blocks. That's the way I will implement it :) And also I want to know when exactly a miner receives his reward ?

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  • You can't precompute the solutions since the problem changes with every block.
    – Ismael
    Nov 23 '20 at 3:47
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So it works like this really what you have is a CPU or a GPU and that is what you use to solve equations arithmetically and when you solve those equations you get rewarded for solving that problem. Like if you were a student and your teacher said what's 1 + 1 and you were the first person to answer 2 and so she then rewards you .00153 Bitcoin or w/e as a reward for answering correctly and first, but because of how things work nowadays and the massive amounts of power and hash rate most people (pretty much almost everyone I think) pool their computing power together so it's not as much of a competition to see who can solve the equation first or whatever as much as It's more just about solving the equations as quick as possible and as many as possible by working together to combine effort and get rewarded fairly and proportionately. So when you pool everyone's power together, everyone gets rewarded proportionately to the hash rate or solving power that they put into the solving the equation. the solved equation being the produced block in this analogy. So once the equation is solved, the block is completed, gets written into the ledger (the blockchain) which is an immutable record, and a predetermined amount of cryptocurrency is rewarded to the miners crypto address that ultimately got the credit for solving the equation. Then the pool will distribute it's payouts to all the miners who helped in solving the complex equations based on the amount of work they contributed to the solution. which would be computational power (hash rate) from your CPU/GPU mining rig, ASIC or whatever is computing out the equations solution. does that help it make a bit more sense?

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  • Thank you very much for your answer. so the reward is sent to address of the node which answered correctly. then that node is going to share that amount with all nodes in it's pool. (I guess this thing is not part of blockchain and protocol). what about questions, If in two weeks (2016 blocks) all hash should be lower than a number and we know the question why don't we try and find all those hashes at once ? and create a array of hashes and when there was a request for a block to be added to blockchain we use one of those hashes.
    – mhndev
    Nov 23 '20 at 5:40

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