Correcting the error in getnetworkhashrateps

Posted by sipa

Aug 8, 2025/02:23 UTC

In the correction of an earlier mistake regarding the variance of the bandwidth ($bw$) estimator, it was clarified that the standard deviation is more accurately represented as $\frac{n}{\sqrt{k-2}}$, diverging from the previously thought $\frac{n}{\sqrt{k-1}}$. This adjustment has implications for the application of a specific algorithm designed to estimate the amount of work within a given window of blockchain blocks. The methodology for this estimation involves several steps beginning with identifying the lowest target ($T$) across all blocks under consideration. Following this, one must compile a set ($S$) of block hashes that are not only below $T$ but may also come from blocks with varying targets than $T$. Among these collected hashes, the highest hash ($H$), which is closest to the target $T$, is singled out. The final step in the work estimation process utilizes the formula $(S -1) \times \frac{2^{256}}{H}$, where $S$ represents the total number of hashes in the set, and $H$ is the highest hash value. This formula offers a systematic approach to quantifying the work done over a specified range of blocks within blockchain operations.

Link to Raw Post
Bitcoin Logo

TLDR

Join Our Newsletter

We’ll email you summaries of the latest discussions from authoritative bitcoin sources, like bitcoin-dev, lightning-dev, and Delving Bitcoin.

Explore all Products

ChatBTC imageBitcoin searchBitcoin TranscriptsSaving SatoshiBitcoin Transcripts Review
Built with 🧡 by the Bitcoin Dev Project
View our public visitor count

We'd love to hear your feedback on this project?

Give Feedback