time needed to create a Bitcoin block
As the Bitcoin mining community increases, it is constantly growing, understanding how much time it takes to extract one block, becomes more and more important. In this article, we will break the Ethereum process (the network on which Bitcoin is built) and estimate the time needed to create a block of an average computer.
What is Bitcoins extraction?
Bitcoin mining is a process in which new bitcoins are created through complex mathematical calculations that require significant computing power. It’s like a solution to a huge puzzle, but instead of words you use numbers.
Ethereum Network: Short Review
Ethereum is used not only for bitcoin transactions; It is also a decentralized platform for creating and performing intelligent contracts. Intelligent contracts are self -controlling contracts with the terms of the contract written directly in the code lines. They have the ability to automate many processes, thanks to which they are useful in a wide range of application.
How does Ethereum extraction work?
To understand how Ethereum mining works, let’s break the process:
- Transaction : The user sends a transaction (request to send bitcoins) to the Ethereum network.
- Hashing : The transaction is then twisted using complex algorithms that create a unique digital fingerprint called “Hash”.
- Creating a block : A group of 64 transactions is collected and connects into a single block, which includes a shortcut of each individual transaction.
- The mining algorithm : Then the block is used to solve a mathematical puzzle, which requires considerable computing power.
extraction process:
In Ethereum (and Bitcoin), mining includes solving complex mathematical problems to verify transactions and create new blocks. The process usually takes about 10 minutes to extract solo on one computer or GPU (graphics processing unit). However, as the network increases, it becomes more and more difficult to solve these puzzles.
estimated time to create a block:
Installing an average computer with a high -class graphics card can make 1 processor core at 3.5 GHz and 16 GB of RAM:
* Mining Solo : With sufficient computing power (about 100-200 ETH), it is estimated that solo extraction operations on one computer or GPU may create a block in about 10 minutes.
* Extracting with many devices : If you have many devices such as graphics cards, they can be combined to increase the overall processing power. This can significantly reduce the time needed to extract one block.
Division of estimated time:
For example:
|. Device Processor cores Memory (GB) Hash speed (th/s)
|. — | — | — | — |
|. Mining Solo 1 | 16 | 100-200 ETH |
|. Single GPU extraction (10 GPU) 30 | 64 | 2000-5,000 TH/S |
|. Multi-GPU Mining (20 GPU) 60 | 128 | 5,000-10,000 TH/S |
It should be remembered that these estimates are rough and may vary depending on the specific hardware and network conditions.
Application
To sum up, the creation of a bitcoin block is an energy -saving process that requires considerable computing power. Even with average computers, it is estimated that it takes about 1-2 months (not a week or month) to make solo mining operations to create one block. As the network increases, miners can connect many devices to increase their processing power and reduce the time needed to extract the block.
Tips for miners:
If you are considering starting your own mining operation:
- Invest in high -class equipment (GPU, CPU or dedicated ASICS) with sufficient cooling and power supply.
- Join the mining stall to provide computing resources and reduce costs.
- Be up to date with the latest Ethereum algorithm updates and security patches.
Remember that the world of cryptocurrency extraction is constantly developing.
