Question

Hashrate = 20 megahashes/second

Target = 2^220

Average number of hashes = 2^292

r: Some nonce

Puzzle: H(x || r) < target

Given this information, what is the probability that you can solve this puzzle within the next 100 minutes?

Please explain the answer, so I can understand, thank you.

Answer 1

To calculate the probability of solving the puzzle within the next 100 minutes, divide the average number of hashes by the hashrate to find the average time. Then, divide 100 minutes by the average time to find the probability.

Step-by-step explanation:

To calculate the probability of solving the puzzle within the next 100 minutes, we need to first calculate the average time it takes to solve the puzzle.

The average time can be found by dividing the average number of hashes by the hashrate:

Average time = Average number of hashes / Hashrate

Substituting the given values, we have:

Average time = 2^292 / 20 megahashes/second

Next, we need to calculate the probability of solving the puzzle within the next 100 minutes.

This can be found by dividing 100 minutes by the average time:

Probability = 100 minutes / Average time

Substituting the calculated average time, we can calculate the probability.