Bitcoin mining algorithm
behind the scenes, the entire bitcoin network shares a public ledger called "blockchain.". This general ledger contains every transaction processed, so that the user's computer can verify the validity of each transaction. The authenticity of each transaction is protected by the electronic signature corresponding to the sending address, which enables users to have complete control over the bitcoin transferred out from their own bitcoin address. In addition, anyone can use the computing power of specialized hardware to process transactions and get a bitcoin reward for it. This service is often referred to as "mining."
bitcoin mining has gone through three stages of development. When bitcoin was just born, the price of bitcoin was very low. People just took bitcoin as a game and used their ordinary computers to mine. However, in 2012, with the rise of bitcoin price, people found that the mining speed of graphics cards was fast, so, People began to buy a large number of graphics cards and assemble them for mining, commonly known as "burning graphics cards"; The third stage is the well-known ASIC miner mining. Since Avalon proced the world's first ASIC bitcoin miner, bitcoin mining has been completely subverted, and mining has become a special professional thing.
Bitcoin mining is a process that uses computer hardware to calculate the location of bitcoin and obtain it
mining is an incentive process to record data in the bitcoin system. In the bitcoin system, indivial users have the right to pack blocks after calculating a specific hash value by using CPU or GPU to hash
and in order to reward this user for packing blocks, the system will give a certain amount of bitcoin as reward. Because this process is very similar to "mining" in real life, most people call this process mining. In addition to bitcoin, other electronic virtual currencies can also be obtained through mining rewards, such as Ethereum, Monroe and so on
extended data:
mining risk:
1, currency security
the withdrawal of bitcoin requires hundreds of keys, and most people will record this long string of numbers on the computer, but frequent problems such as hard disk damage will make the key permanently lost, which also leads to the loss of bitcoin
2, system risk
system risk is very common in bitcoin, and the most common one is bifurcation. Bifurcation will lead to a drop in currency price and a sharp drop in mining income. However, many cases show that the forking will benefit the miners, and the forked competitive currency also needs the miners' computing power to complete the minting and trading process. In order to win more miners, the competitive currency will provide more block rewards and handling charges to attract miners. Risk makes miners
when building bitcoin, Nakamoto wants bitcoin to be a decentralized currency, not only for use and trading, but also for mining. But it backfired. With the increasing value of cryptocurrency such as bitcoin, mining has become an instry. The competition is more and more fierce, and the pursuit of mining computing power is higher and higher. Therefore, from ordinary computer mining, ASIC mining machine and GPU mining machine have evolved
the algorithm of ASIC mining machine is almost sha256, while the algorithm of GPU mining is different. For example, the algorithm of BTG is equihash, and the algorithm of BCD is optimized x13. Although it is not absolute, it can be simply considered that the currency of sha256 algorithm is generally mined by ASIC mining machine. Other algorithms are basically using GPU miner. There are also exceptions. Scrypt's Leyte coin used to be mined by GPU miner, but later scrypt's algorithm was also conquered by ASIC chips, such as ant miner L3 +, which is the ASIC miner used to dig Leyte coin
ASIC miner refers to the miner that uses ASIC chip as the core of computing power. ASIC is the abbreviation of application specific integrated circuit, which is a kind of electronic circuit (chip) specially designed for a specific purpose. Some mining machinery factories have designed ASIC chips specially for computing the sha256 algorithm of bitcoin, and the mining machinery using them is ASIC mining machinery. Because ASIC chip is only built for specific computing, its efficiency can be much higher than that of CPU. For example, the current mainstream ant miner S9 is ASIC miner, which uses 189 ASIC chips, the computing power reaches 13.5th/s, and the power consumption is only 1350W. As a comparison, the computing power of gtx1080ti, the flagship computer graphics card, will not exceed 60mh / s even if it is optimized well. The difference is tens of thousands of times
GPU miner refers to the miner that uses GPU graphics card as the core of computing power. Cryptocurrencies such as Ethereum, bitcoin and diamond use graphics algorithms, so the speed of computing with graphics card will be the highest. Compared with ASIC miner, GPU miner is more well-known, because it is a computer with enhanced graphics card configurationthe purpose of GPU miner is to make money, so we should pursue the power consumption ratio and maximum profit, so we should pay attention to the cost performance. Generally, the medium and high-end positioning graphics cards, such as AMD rx560 and rx570, have high power consumption ratio, which is a good choice for GPU miner. While flagship cards such as gtx1080ti and AMD vega64 have the strongest single card performance, they are not cost-effective in terms of price and power consumption
in addition, the ASIC miner also has some exotic procts, such as the USB miner of burning cat, which is slightly larger than the U disk, and the power consumption is only 2.25w, which is the smallest bitcoin miner at present
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the content of this article comes from: financial code of the people's Republic of China: application edition, China Law Press
Bitcoin mining is a process of using computer hardware to do mathematical calculation for bitcoin network to confirm transactions and improve security
Hash algorithm maps any length of binary value to a fixed length of smaller binary value, which is called hash value. Hash value is a unique and compact numerical representation of a piece of data. If you hash a piece of plaintext and change only one letter of the paragraph, subsequent hashes will proce different values. It is computationally impossible to find two different inputs with the same hash value
message authentication code (MAC) hash function is usually used with digital signature to sign data, while message detection code (MDC) hash function is used for data integrity
the basic information of bitcoin network is as follows:
all digital currencies that need to be mined have hash values, such as Laite coin, Ruitai coin, doggy coin, Weimeng coin, Diandian coin, Yuanbao coin, etc< br />
In fact, the mining calculation of bitcoin is to do math problems together. The problem stem is the transaction that needs to be recorded. By doing the problem, everyone grabs the bookkeeping right, and the miners can get system rewards and transaction fees. The feature of sha256 algorithm used in bitcoin is that it is easy to verify the known answers correctly, but it is very troublesome to get the answers, and it needs to try one by one. The miner who got the answer first was recognized by everyone as having snatched the right to keep accounts, and the reward was given to him. Let's continue to grab the bookkeeping right of the next question. In short, the significance of these calculations is only to ensure the stability and safety of the whole system, and there is no more significance
it is not comprehensive to regard bitcoin as a by-proct of computing. The generation and issuance of bitcoin, all the transactions and circulation in the bitcoin chain, and the stability of the bitcoin system are the purpose of computing and are integrated. Of course, in addition to maintaining the system, it does not proce other value and procts. This is also a black spot where bitcoin is accused of not being environmentally friendly and wasting resources. In general, bitcoin, as a milestone blockchain digital currency, is e to the huge value of a large amount of computing power investment and user trust. There is no doubt about that