Questions tagged [proof-of-work]

A proof-of-work (POW) system is an economic measure to deter denial of service attacks and other service abuses such as spam on a network by requiring some work from the service requester, usually meaning processing time by a computer.

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78
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5answers
159k views

What is the total supply of Ether?

In Bitcoin, the total supply is capped at 21 million BTC. Is the total supply of Ether capped? How much will be mined before the Proof of Stake (POS) transition, and how will POS affect the issuance ...
66
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5answers
50k views

What's the difference between proof of stake and proof of work?

The Ethereum frontier network currently uses a proof of work (PoW) consensus algorithm, while a future version of the network plans to utilise a proof of stake (PoS) algorithm instead. What's the ...
53
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4answers
29k views

What proof of work function does Ethereum use?

The Ethereum frontier network currently uses a proof of work (PoW) based consensus algorithm. But which specific PoW function does that algorithm use, and why was it chosen?
11
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2answers
3k views

How is the Two Generals Problem solved with proof of work?

Here is an email where Satoshi Nakamoto explains how PoW solves the Byzantine Generals' problem http://satoshi.nakamotoinstitute.org/emails/cryptography/11/ The proof-of-work chain is a solution to ...
21
votes
1answer
26k views

Is Ethereum ASIC resistant?

I've heard that Ethereum mining is ASIC resistant since it requires memory-hard hashing algorithms. However, why can't miners buy large DRAM and devote the memory to ASIC mining? What prevents miners ...
15
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1answer
4k views

Can Proof of Stake (PoS) improve the number of Transactions per Second?

Currently Ethereum is using Proof of Work (PoW). From my understanding there is a limit of time between blocks for two reasons: Part of that time between blocks represents the time to solve the PoW ...
9
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1answer
1k views

How to check if a transaction is still in the blockchain?

Say we want to confirm that a value transaction tx has reached certain finality, which we define as waiting for 12 block confirmations. We do this to drop the probability of tx getting lost due a fork ...
2
votes
1answer
206 views

Unable to understand PoW Algorithm?

As per my current understanding PoW algorithm is to ensure that only the decided number of blocks are made in a time frame and we adjust difficulty accordingly. I'm a beginner in Solidity and Ethereum ...
15
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2answers
7k views

What kind of hardware is required to mine on Ethereum?

The Ethereum frontier network has a customised proof of work algorithm called Ethash. What kind of computer hardware is required to mine with this proof of work algorithm?
11
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3answers
9k views

Will a higher stake make more money in PoS?

Since I'm very new to this I'm just going to assume I'm getting it wrong. But here it goes anyway... The higher my stake, the more money I make. This is my raw understanding of how proof of stake ...
4
votes
2answers
556 views

What property makes Proof of Stake easier to apply in permissioned blockchains?

There are a number of efforts driving towards the transition from the current proof-of-work towards proof-of-stake (more info here). Meanwhile proof-of-stake is already in use in some permissioned ...
1
vote
1answer
356 views

How were the “dynamically adjusted target” in mining expressed in the Yellow Paper?

The one validity condition present in the above list that is not found in other systems is the requirement for "proof-of-work". The precise condition is that the double-SHA-256 hash of every block, ...
6
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1answer
2k views

How does ethminer interact with the various Etherum clients (e.g. geth, eth, parity) when mining? Does it affect mining efficiency?

Apologies for the rookie question, I'm very new to Ethereum. I wanted to make sure I understand correctly the distinction between an Ethereum mining client (i.e. ethminer) versus a just a client, such ...
2
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1answer
3k views

Are miners eliminated in Proof of Authority?

According to this blog post by Vitalik on April 1st 2017, Ethereum will move from Proof of Work to Proof of Authority in 2018. He states: We have decided that the problem is too hard, and secure ...