Bitcoin Q&A: The Mining Process
Channel: aantonop
Date: 2018-05-12

Can you provide a brief overview of the mining process? Is there human intervention in mining or is it automated? What influenced the centralisation of mining and how will it decentralise again?

More on mining and consensus in 'Mastering Bitcoin' - https://github.com/bitcoinbook/bitcoinbook/blob/f8b883dcd4e3d1b9adf40fed59b7e898fbd9241f/ch10.asciidoc

Chapters
0:00 Can you explain the mining process in detail? When are hashes calculated? How are the 
transactions selected from the mempool? Does the client software automatically confirm the correct blocks?
8:36 If my node finds a block, is the verification automatic, or does a real person need to do manual work to enable it to go through?
9:31 Some say that a few miners control 70% of the hash power. Is this centralization?

These questions are from the MOOC 9.2, 9.3, and 9.5 sessions, which took place on February 23rd, March 2nd, and March 16th 2018 respectively. Andreas is a teaching fellow with the University of Nicosia. The first course in their Master of Science in Digital Currency degree, DFIN-511: Introduction to Digital Currencies, is offered for free as an open enrollment MOOC course to anyone interested in learning about the fundamental principles.

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.

Follow on Twitter: @aantonop https://twitter.com/aantonop
Website: https://antonopoulos.com/

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.

THE INTERNET OF MONEY, v1: https://www.amazon.co.uk/Internet-Money-collection-Andreas-Antonopoulos/dp/1537000454/ref=asap_bc?ie=UTF8

[NEW] THE INTERNET OF MONEY, v2: https://www.amazon.com/Internet-Money-Andreas-M-Antonopoulos/dp/194791006X/ref=asap_bc?ie=UTF8

MASTERING BITCOIN: https://www.amazon.co.uk/Mastering-Bitcoin-Unlocking-Digital-Cryptocurrencies/dp/1449374042

[NEW] MASTERING BITCOIN, 2nd Edition: https://www.amazon.com/Mastering-Bitcoin-Programming-Open-Blockchain/dp/1491954388

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