user112925: just got a question here:
Does this flowchart accurately show the step-by-step workings of a typical crypto-miner software?
I'm a newbie in the cryptocurrency business. Though I welcome comments and objections, please be understanding...


user38618: About your new diagram: https://imgur.com/a/RaRgWEb
Firstly "execute mining software" implies that you have maybe at least 1% of the network hash and solo mining. Otherwise, the process is just:

Use the stratum protocol to receive the block template and the difficulty target
Attempt hashes until the block is valid in hardware.

Then every node verifies the block. This would be the bottleneck, so instead it's enough that

the block template is valid (done by the pool operator's node)
the difficulty target is reached

and checking for the target is done by the hardware, in the mining loop.
So it's the hardware that mines.
Instead of "mining software stores coins into miner's wallet address", it's the block template that has the destination address. When the generated block is valid, so is the new coinbase transaction, and the coins are minted.

112925: <p>just got a question here:</p>
<p>Does this flowchart accurately show the step-by-step workings of a typical crypto-miner software?
I'm a newbie in the cryptocurrency business. Though I welcome comments and objections, please be understanding...
<a href="https://i.stack.imgur.com/AuPLa.jpg" rel="nofollow noreferrer"><img src="https://i.stack.imgur.com/AuPLa.jpg" alt="software flowchart" /></a></p>
 38618: <p>About your new diagram: <a href="https://imgur.com/a/RaRgWEb" rel="nofollow noreferrer">https://imgur.com/a/RaRgWEb</a></p>
<p>Firstly &quot;execute mining software&quot; implies that you have maybe at least 1% of the network hash and solo mining. Otherwise, the process is just:</p>
<ul>
<li>Use the stratum protocol to receive the block template and the difficulty target</li>
<li>Attempt hashes until the block is valid in hardware.</li>
</ul>
<p>Then every node verifies the block. This would be the bottleneck, so instead it's enough that</p>
<ul>
<li>the block template is valid (done by the pool operator's node)</li>
<li>the difficulty target is reached</li>
</ul>
<p>and checking for the target is done by the hardware, in the mining loop.</p>
<p>So it's the hardware that mines.</p>
<p>Instead of &quot;mining software stores coins into miner's wallet address&quot;, it's the block template that has the destination address. When the generated block is valid, so is the new coinbase transaction, and the coins are minted.</p>
