Proof-of-Work: Mining

For a better idea of how mining works, let’s bring up an analogy.

Mining is like throwing darts at a target while blindfolded.

This implies two things.

First, we have an equal likelihood of hitting any part of the target.

We have no way of knowing what’s closer to or farther from the center.

Two, the only way we can be more likely to ever hit the center is by throwing more darts.

Again, since we have no way of trying to make any individual dart more likely to hit the center, the best we can do is throw more.

This compares to mining because miners are looking for some hash output that is below some algorithmically decided target.

It’s as if that target is the green line dividing the valid and invalid blocks in the diagram.

Proof-of-Work: Block Difficulty