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Puzzle of the Day – The Block Chain’s Probability
Puzzle of the Day – Using Proof of Existence to Protect a Cryptocurrency
For the next puzzle we will look at the Block chain’s probability. It’s a little bit of a “hard math” puzzle but worth looking into.
The first question is, what is the number of Bitcoins in the blockchain. The Blockchain is a unique document that contains the history of all mining of bitcoins. There are a total of 21 million Bitcoins in the blockchain.
To start with we are going to try to make the numbers on the left hand side equal to 50. When we do this we get:
So we need a number that starts at 0.
Let’s do it in bits. A 64-Bit number is a bit on the left hand side and a 64-bit number is a bit on the right hand side (if you know the bit length in bits you know which number starts at which starting position). So we are going to use the number of coins on the left-hand side (in bits), then we add the coin number to that to get the coin number we are trying to get from:
We can use the same approach that we used before (which took a bit of trial and error) to find out the coin amount in the left hand side. When we do this in bits we get (with 0 coin), 0-63 (0 coin), 0-64 (64 coin), 0-65 (65 coin), and 64-1 (coin is in the block chain):
Now we can start with a number that starts at 0 and use the previous number to go back to our starting position. We then multiply by 64 (which is the number of coins on the left handed side at that starting position), and add to that to get:
Once we do that we can use the same procedure to convert the coin quantity to bits, multiply by 64 (64
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