What “Puzzle” Bitcoin Miners Actually Solve?

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Full article: https://cryptopurview.com/blockchain-learning/what-puzzle-bitcoin-miners-actually-solve/

To understand what problem miners solve we have to first understand what SHA-256 is?
SHA-256 stands for “Secure Hash Algorithm” which is a Cryptographic Hash Algorithm.

A cryptographic hash (sometimes called ‘digest’) is a kind of ‘signature’ for a text or a data file. SHA-256 generates an almost-unique 256-bit (32-byte) signature for a text.
What it means is whenever an SHA-256 algorithm is applied to any length of string or text, it will give back a unique 256-bit string like below. This is known as a hashing function.
An example of a 256-bit string: EF9F171116ABFB430DD0920B081A62998CB6433C76503238D9A79FA4244A8884
This string will always be different for each string or content i.e. no two different strings in the world can have the same SHA2 even if they differ just by one bit. E.g. “My name is Crypto Purview” and “My name is CryptoPurview” will have different SHA-256. (Note there is just space difference between 2 strings)

Continue reading the full article here: https://cryptopurview.com/blockchain-learning/what-puzzle-bitcoin-miners-actually-solve/
 

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