Understanding the likelihood of victory in the block in Ethereum
The Ethereum network uses the consensus algorithm for proof of work (POW), which requires the miners to solve complex mathematical puzzles to confirm transactions and create new blocks. The likelihood of victory in the block is determined by the level of difficulty of the puzzle.
In this article, we will enter into how the likelihood of winning the block is calculated in Ethereum, specific from the perspective of the Bitcoin Wiki page that mentions it.
Formula Difficulty
The formula of difficulty in POW is based on the hash meters of the mining pool of the network and the current time. The formula can be simplified as follows:
`Python
Difficulty = (Hashrate * Time) / 2^32
This formula takes into account the total number of hash per second (hashrate), the number of current block and the desired level of difficulty.
Relationship between difficulties and block reward
The Bitcoin Wiki page mentions that the likelihood that winning the block is reverse the block rewards. In other words, as the block award increases, the chances of winning the block are reduced. This relationship can be expressed mathematically:
Python
P (Win) = (1 / Block_reward)
Calculation of probability
In order to calculate the likelihood of victory in the block, we need to know the current block reward and the level of network difficulty. The Bitcoin Wiki page on Ethereum provides the following formula to calculate the block award in Ethereum:
Block_reward = 10^18 * (1 / difficulty)
Using this formula, we can connect values to calculate the likelihood of winning the block.
Python
Block_reward = 10^18 * (1/4000000)
Block_reward ≈ 2,5e-8
Difficulty = (Hashrate * Time) / 2^32
Example of calculation
Let's say we know that the hash rate is approximately 100 th/s, and the current number of blocks isN. We can use the upper formula to calculate the likelihood of victory in the block:
Python
Block_reward = 10^18 * (1 / difficulty)
Block_reward ≈ 2,5e-8
Assuming a block reward or 10^-9 Satoshis per block
Block_reward_per_block = 10^-9
Difficulty = (Hashrate * Time) / 2^32
Difficulty ≈ 4000000
Probability_of_winning_block = block_reward_per_block / difficulty
probability_of_winning_block ≈ 1.25e-4
`
Conclusion
In conclusion, the likelihood of winning the block in Ethereum is calculated using the Bitcoin Wiki Page as follows:
- Difficulty levels affect the number of possible hash needed to deal with the puzzle.
- Reversed relationship between difficulty and block reward means that the block reward is increasing, the chances of winning the block are reduced.
By understanding this formula, we can gain insight into the fundamental mechanics of prisoners on Ethereum and make more informed decisions about our investment or participation in the network.
