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RE: Learn by Interacting with Hash, Blocks, and Blockchain + get 100SP delegated for insightful comments
It was always very difficult for me to understand the meaning of all these widely used terms. But you simplified it by so easily demonstrating their functionality and association with the actual data input and screenshots, that it became crystal clear to grasp for me now.
One thing I wanna know: Does Nonce need to be calculated by hit and trial or is there some rule to find it? Is it this calculation of "Nonce", where all PoW computing (or hashing) power gets consumed?
good question. finding the nonce is completely random. and yes, the more hash rate you have i.e. mining hardware, the more likely you will find the nonce and will consume more power.