Bitcoin Q&A: Iterating Nonces and the Block Reward
Channel: aantonop
Date: 2019-04-02

What is the nonce? Is it possible guess it on the first try? How is the nonce found in mining pools? When a miner wins the block reward, how does the block know which address to pay? When does a miner transmit a block to the network?

CORRECTION: At 18:03, I said that the chances of rolling dice below nine is the same as rolling below five. This is incorrect. It is easier to roll below nine because there are more possible outcomes.

Chapters
0:00 What is the nonce?
8:44 Do the miners know the amount of zeros required for the next block? Difficulty target
12:14 Is it possible to guess the nonce on the first try?
14:08 How does a pool work with a lower difficulty level for its nodes to solve? If my node finds a nonce that produces a hash that is lower than the expected difficulty set by the pool, how does that relate to the difficulty set on the Bitcoin network?
19:11 If I have an ASIC miner and I win the block reward, how will it be technically linked to a wallet of mine?

These questions are from the third session of MOOC 11, which took place on February 14th 2019. If you want early-access to talks and a chance to participate in the monthly live Q&As with Andreas, become a patron: https://www.patreon.com/aantonop

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Andreas M. Antonopoulos is a technologist and serial entrepreneur who has become one of the most well-known and respected figures in bitcoin.

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He is the author of two books: “Mastering Bitcoin,” published by O’Reilly Media and considered the best technical guide to bitcoin; “The Internet of Money,” a book about why bitcoin matters.

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MASTERING BITCOIN, 2nd Edition: https://amzn.to/2xcdsY9

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Russian, 'Интернет денег' (v1) - https://www.olbuss.ru/catalog/ekonomika-i-biznes/korporativnye-finansy-bankovskoe-delo/internet-deneg
Vietnamese, 'Internet Của Tiền Tệ' (v1) - https://alphabooks.vn/khi-tien-len-mang

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