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Merged Mining (Pilsen Bitcoin Meetup)

Merged Mining (Pilsen Bitcoin Meetup)

Ondrej Sika

March 17, 2016
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  1. Merged Mining Ondrej Sika <ondrej@ondrejsika.com> Slush Pool (slushpool.com) 17. 3.

    2016, Bitcoin meetup Plzen, Czech Republic
  2. Bitcoin

  3. Namecoin * first altcoin * fork of bitcoin * distributed

    DNS
  4. How Bitcoin Mining Works?

  5. Block * header * transactions

  6. Block Header * version * hashPrevBlock * hashMerkelRoot * time

    * bits (difficulty) * nonce
  7. Blockchain

  8. Mining

  9. Proof of Work ”A proof of work is a piece

    of data which was difficult (costly, time-consuming) to produce so as to satisfy certain requirements”
  10. "Hello, world!0" => 1312af178c253f84... "Hello, world!1" => e9afc424b79e4f6a... "Hello, world!2"

    => ae37343a357a8297... . . . "Hello, world!4248" => 6e110d98b388e... "Hello, world!4249" => c004190b822f1... "Hello, world!4250" => 0000c3af42fc3...
  11. Auxiliary POW ”This is the way that merged mining can

    exist; it is the relationship between two blockchains for one to trust the other’s work as their own and accept AuxPOW blocks.”
  12. Bitcoin Coinbase * block height * flags * merged mining

    prefix * namecoin prevhash * ...
  13. Principle of Aux POW

  14. None
  15. Namecoin Block * header * auxpow (btc coinbase tx, btc

    branch, btc header) * transactions
  16. Thanks & Questions ondrej@ondrejsika.com http://ondrejsika.com @ondrejsika Sources: http://url.os1.cz/merged-mining-pilsen/