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MinorMiner: We turn your kid's maths homework into Bitcoin
Hello! Hello! Welcome, welcome. My name is Hobert Reaton, and I’m here in this shabby motel conference room to present you with yet another once-in-a-lifetime investment opportunity.
Step 1Collect valid Bitcointransactions sincelast blockStep 2Add nonceStep 3Pass transactions andnonce through hashfunctionStep 4Check if hash outputis less than targetNO - try again withnew noncePublish solution and claim rewardYES - new bitcoinblock mined!There’s no elegant way to solve these puzzles. We write our mining code using a Python library called Centralized Underage Distributed Arithmetic - Automated Assignment And Group Hashing(CUDAAAAGH). TIA allows us to compensate Distribution Associates for their hard work, using a sliding-scale fee for every billion hashes produced by their Computation Partners (or, “students”).
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