In my earlier tutorial, I demonstrated how to use the Python library hashlib to create a sha256 hash function. Now, using Python, I am going to demonstrate the principle of blockchain mining. Again using BitCoin as my model, I will be trying to find a nonce value that will result in a hash value below a predetermined target.
We will start by simply enumerating an integer through our sha 256 hash function until we find a hash with 4 leading zeros.
I used a while loop, passing the variable “y” through my hashing function each time the loop runs. I then inspect the first 4 digits [:4] of my hash value. If the first four digits equal 0000 then I exit the loop by setting the found variable to 1
(*note, a hash value is a string – hence the need for quotes around ‘0000’)
As you can see in the version above, it took 88445 iterations to find an acceptable hash value
Now, using the basic example of a blockchain I gave in an earlier lesson, let’s simulate mining a block
You’ll see, I am now combining the block number, nonce, data, and previous hash of my simulated block and passing it through my encryption function. Just like in BitCoin, the only value I change per iteration is the Nonce. I keep passing my block through the hashing function until I find the Nonce that gives me a hash below the target.
Now, let’s lower the target value to 6 leading zeros. This should result in a longer runtime to get your hash
To measure the run time difference, let’s add some time stamps to our code
So, I am using the timestamp function twice. D1 will be our start time, d2 will be our end time, and I am subtracting d1 from d2 to get our elapsed time. In the example below, my elapsed time was 5 secs
Now, let’s bump the target down to 7 leading zeros. Now this brings my elapsed computing time to 20 minutes. That is a considerable commitment of resources. You can see why they call it a “proof of work” now.
