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I've mined bitcoin to test and understand cryptocurrency better. Which generated this hash 00000431fb66ed96815b3829e975c2235a64b9a646c0bd1cc526dc1727c1f16b(nonce value of 300712) What I do with this now? Do I go to blockchain and submit it? How can I do that? Can someone explain me? I'm very new to cryptocurrency and I'd like to learn more about it.

TheCodeExpert
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  • That looks like a low difficulty. What chain did you mine? – Mercedes Oct 20 '21 at 18:02
  • Yeah it was to test. It's lvl 5 difficulty which is mined by python 3.9 – TheCodeExpert Oct 20 '21 at 18:04
  • To extend the blockchain, you have to mine a block at the current difficulty. The current difficulty is 20,082,460,130,830, so just a tad more than 5. You should check out https://bitcoin.stackexchange.com/q/148/5406, and https://bitcoin.stackexchange.com/q/41276/5406. – Murch Oct 20 '21 at 18:20
  • How do you view the current difficulty and how can you even get the reward when you mine that? I have some many questions – TheCodeExpert Oct 20 '21 at 18:23
  • Block headers commit to the previous block hash and the difficulty, so you literally cannot begin mining without knowing this. Typically you'd get this information from a full node; for example using the getblocktemplate RPC call of Bitcoin Core. – Pieter Wuille Oct 20 '21 at 18:56

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generated this hash [...]. What I do with this now?

I'm pretty sure the things you should do include:

  • Check that the prior block referenced by your block template is still at the head of the chain.
  • Ensure your block will pass all the consensus validation rules.
  • Identify a handful of peer nodes using Bitcoin's peer discovery process/protocol
  • Send a Bitcoin message to those peers stating that you have a new block
  • Listen for incoming requests for that block and respond to them
  • Wait for another 100 blocks to be added to the chain that has your block in it.
  • Spend your block reward or continue to retain it

See also

How do you view the current difficulty

By viewing the difficulty value in a few recent blocks and if the difficulty interval is here, by applying the difficulty recalculation algorithm.

and how can you even get the reward when you mine that?

The reward is in the coinbase transaction you added to your block template before hashing. You can spend it 100 blocks later (see above)

RedGrittyBrick
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