Kick v Ether | Table O Contents
The Kick coin is an ERC-20 crypto currency …
- Kick v Ether | Table O Contents
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Hint. Place the intro paragraph ie.) the ‘hypothesis’ here …
(1) KICK = 0.0005 ETH, or 5 ten-thousandth’s of an ether, commonly known as a “unknown”.
More to come …
Do you wish to become a member of the KICK economy?
There are approx. 448 million KICK coins authorized at inception.
A Consensus Mechanism ensures the accuracy and order of the chain of data blocks within a blockchain.
Proof O Work
The Proof O Work consensus mechanism relies upon the timely discover of a target hash by an independent miner.
How to invoke a Target Hash in Python.
Open up a Terminal window in High Sierra.
From the Terminal prompt …
First, engage the python interpreter by typing the command ‘python’, as follows:
Second, import the Python ‘hash library’
Thirdly, print to the screen the target hash of the following text statement using the SHA256 algorithm.
print hashlib.sha256("The Satoshi is a very small fraction of one Bitcoin. In fact, the very smallest fraction transmissible!").hexdigest()
Returns the Target Hash …
Finally, type ‘Command-Q’ to exit the interpreter and close the Terminal window.
So, you wanna mine Bitcoin (BTC), heh?
Using a SHA256 algorithm, find the matching hash.
At the rate of 150 quadrillion hash calculations per second, how many Peta Hash (PH) per second of computing power are required to discover the next block in the Bitcoin (BTC) blockchain at a difficulty rating of less than ‘000000000000004’ assuming a time window of 10 minutes?
Answer: Approximately 100 (PH)
“Shared rules ensure perfect blocks!” ~ Satoshi Saki
solar sourced electricity
Foundation panel of (9) tie-breaker
Assuming you have hopped through the above flaming hoop unscathed, what shall be your reward?
Answer: 50 BTC?, 25 BTC?, 12.50 BTC? 06.25 BTC?
Every (4) years the award gets cut in half.
Not to mention the difficulty factor increases to keep up with technological hardware and software advances in order to hold the expected time window for finding the target hash at a duration goal of 10 minutes.
Burn, baby, burn!
Now, THAT’s a disco inferno!
More to come …
Note. The above synopsis was derived from an article written by Chimera Labs .
- Mastering Bitcoin by Chimera Labs. Published by © 2017 Oreilly.com.
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