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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
    Slush Pool (slushpool.com)
    17. 3. 2016, Bitcoin meetup Plzen, Czech Republic

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  2. Bitcoin

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

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  4. How Bitcoin Mining Works?

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  5. Block
    * header
    * transactions

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  6. Block Header
    * version
    * hashPrevBlock
    * hashMerkelRoot
    * time
    * bits (difficulty)
    * nonce

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  7. Blockchain

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  8. Mining

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  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”

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  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...

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  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.”

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  12. Bitcoin Coinbase
    * block height
    * flags
    * merged mining prefix
    * namecoin prevhash
    * ...

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  13. Principle of Aux POW

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  15. Namecoin Block
    * header
    * auxpow (btc coinbase tx, btc branch, btc header)
    * transactions

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  16. Thanks & Questions
    [email protected]
    http://ondrejsika.com
    @ondrejsika
    Sources:
    http://url.os1.cz/merged-mining-pilsen/

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