How much is needed to confirm the BTC hash value
Publish: 2021-04-22 03:15:26
1. In order to understand the technical principle of bitcoin, we need to understand two important cryptographic techniques: hash code: it converts a long string into a fixed length string, and its conversion is irreversible, that is, it is impossible to guess the original string from hash code. Sha256 is mainly used in bitcoin protocol
public key system: corresponds to a public key and a private key, keeps the private key in the application and publishes the public key. When Party A transmits information to Party B, it can use Party A's private key to encrypt the information, and Party B can use Party A's public key to decrypt the information, so as to ensure that the third party cannot impersonate Party A to send the information; At the same time, when Party A transmits information to Party B, it is encrypted with Party B's public key and sent to Party B, and then Party B decrypts it with his own private key, so as to ensure that the third party cannot eavesdrop on the communication between the two people. RSA is the most common public key system, but the lliptic curve digital signature algorithm is used in bitcoin protocol. What's the difference between cash and bank account? Bitcoin is an electronic currency in BTC. In this article, it is also used to refer to the whole bitcoin system. Like opening an account in a bank, the corresponding concept in bitcoin is address. Everyone can have one or more bitcoin addresses, which are used to pay and collect money. Each address is a string that starts with 1. For example, I have two bitcoin accounts, and. A bitcoin account is uniquely determined by a pair of public key and private key. To save the account, you only need to save the private key file. Unlike bank accounts, banks keep all transaction records and maintain the book balance of each account, while bitcoin's transaction records are jointly maintained by the whole P2P network through a pre agreed protocol. How much money is in my account address? Although the current account balance can be seen by bitcoin software, unlike banks, there is no place to maintain the book balance of each address. It can only calculate the account balance in real time through all historical transactions. How do I pay? When I pay from address a to address B of the other party, the payment amount is e. at this time, both parties will announce the transaction information to each network node, telling address a to pay to address B, and the payment amount is e. In order to prevent the third party from forging the transaction information, the transaction information will be encrypted with the private key of address A. at this time, the network node receiving the transaction information can use the public key of address a to verify that the transaction information is indeed sent by address a. Of course, trading software will help us do these things, we just need to input the relevant parameters in the software. What will the network node do after receiving the transaction information? This is the most important part of the bitcoin system, which needs to be elaborated. For the sake of simplicity, only bitcoin protocol has been implemented. In the current version, each network node will save all transaction information synchronously. There are two kinds of transaction information in history, one is & quot; Verified & quot; The transaction information, that is, the verified transaction information, is stored in a series of "blocks". Each & quot; block" Is the previous & quot; bock" The ID of each block is the hash code of the hash code of the block and the new transaction information (see an actual block). The other category refers to those who also & quot; Unverified & quot; The transaction information just paid above belongs to this category. When a network node receives new unverified transaction information (possibly more than one), it can calculate the book balance of each address at that time because the node keeps all the transaction information in history, so it can calculate whether the transaction information is valid, that is, whether there is enough balance in the payment account. After eliminating the invalid transaction information, it first takes out the last & quot; block" Then, the unverified transaction information is combined with the ID, and a verification code is added to form a new "block". It needs a lot of calculation to build a new block, because it needs to calculate the verification code, so that the above combination becomes a block, that is, the first several bits of the hash code of the block are 1. At present, the first 13 bits need to be 1 (generally, the specific method is uncertain), which means that if the block is generated by enumeration method, the average number of enumerations is 16 ^ 13. Using CPU resources to generate a block is called "gold mining", because the proction of the block will get a certain reward, and the reward information has been included in the block. When a network node generates a new block, it will broadcast to other network nodes. However, this network block may not be accepted by the network, because it is possible that other network nodes have proced the block earlier. Only the earliest block or the block with the largest number of subsequent blocks is valid, and the remaining blocks are no longer used as the initial blocks of the next block. How does the other party confirm that the payment is successful? When the payment information is distributed to the network node, the network node begins to calculate whether the transaction is valid (that is, whether the account balance is enough to pay), and attempts to generate blocks containing the transaction information. When six blocks (one direct block and five subsequent blocks) contain the transaction information, the transaction information is considered "verified", so that the transaction is formally confirmed, and the other party can confirm the successful payment. A possible problem is that I will pay the balance of address a to address B, and at the same time pay to address C. If I only verify that the single comparison transaction is valid. At this point, my way of cheating is to generate six blocks including B to B and six blocks including C to C before the truth is revealed. Because I need a very long CPU time to generate a block, compared with the whole network, the probability of my cheating success is very small. What is the motivation of network nodes to proce blocks? As can be seen from the above description, in order to make the transaction information effective, the network node needs to generate 1 and 5 subsequent blocks to contain the transaction information, and such block generation is very CPU intensive. How to let other network nodes help to proce blocks as soon as possible? The answer is very simple. The agreement stipulates that BTC will be rewarded for the address where the block is proced, as well as the Commission promised by both parties. At present, the reward for procing a block is 50btc, which will be halved every four years in the future. For example, the reward will be 25btc from 2013 to 2016. Is the transaction anonymous? Yes, and No. All bitcoin transactions are visible. We can check all transaction records of each account, such as mine. But what's different from the banking monetary system is that everyone's account itself is anonymous, and everyone can open many accounts. In general, anonymity is not as good as it claims. But bitcoin has another advantage in doing black market trading: it can't be frozen. Even if the police trace a bitcoin address, there is nothing they can do unless they trace the computer used by the exchange based on the Internet address. How to ensure that bitcoin does not depreciate? Generally speaking, in the case of equivalent trading activities, the value of money is inversely proportional to the amount of money issued. Unlike the traditional money market, the central bank can determine the amount of money issued. Bitcoin does not have a central issuing institution. Only by procing blocks can we get a certain amount of BTC currency. Therefore, bitcoin's new amount of money depends on: 1. The speed of procing blocks: bitcoin's agreement stipulates that the difficulty of procing blocks is fixed at an average of 2016 every two weeks, about 10 minutes. Moore's law of doubling CPU speed every 18 months will not speed up the proction of block. 2. The number of rewards for block proction: at present, 50 BTC is awarded for each block proced, which is halved every four years. In 2013, 25 BTC is awarded, and in 2017, 12.5 BTC is awarded. Considering the above two factors, bitcoin's currency issuing speed is not controlled by any single node in the network. Its protocol makes the currency stock known in advance, and the maximum stock is only 21 million BTC
public key system: corresponds to a public key and a private key, keeps the private key in the application and publishes the public key. When Party A transmits information to Party B, it can use Party A's private key to encrypt the information, and Party B can use Party A's public key to decrypt the information, so as to ensure that the third party cannot impersonate Party A to send the information; At the same time, when Party A transmits information to Party B, it is encrypted with Party B's public key and sent to Party B, and then Party B decrypts it with his own private key, so as to ensure that the third party cannot eavesdrop on the communication between the two people. RSA is the most common public key system, but the lliptic curve digital signature algorithm is used in bitcoin protocol. What's the difference between cash and bank account? Bitcoin is an electronic currency in BTC. In this article, it is also used to refer to the whole bitcoin system. Like opening an account in a bank, the corresponding concept in bitcoin is address. Everyone can have one or more bitcoin addresses, which are used to pay and collect money. Each address is a string that starts with 1. For example, I have two bitcoin accounts, and. A bitcoin account is uniquely determined by a pair of public key and private key. To save the account, you only need to save the private key file. Unlike bank accounts, banks keep all transaction records and maintain the book balance of each account, while bitcoin's transaction records are jointly maintained by the whole P2P network through a pre agreed protocol. How much money is in my account address? Although the current account balance can be seen by bitcoin software, unlike banks, there is no place to maintain the book balance of each address. It can only calculate the account balance in real time through all historical transactions. How do I pay? When I pay from address a to address B of the other party, the payment amount is e. at this time, both parties will announce the transaction information to each network node, telling address a to pay to address B, and the payment amount is e. In order to prevent the third party from forging the transaction information, the transaction information will be encrypted with the private key of address A. at this time, the network node receiving the transaction information can use the public key of address a to verify that the transaction information is indeed sent by address a. Of course, trading software will help us do these things, we just need to input the relevant parameters in the software. What will the network node do after receiving the transaction information? This is the most important part of the bitcoin system, which needs to be elaborated. For the sake of simplicity, only bitcoin protocol has been implemented. In the current version, each network node will save all transaction information synchronously. There are two kinds of transaction information in history, one is & quot; Verified & quot; The transaction information, that is, the verified transaction information, is stored in a series of "blocks". Each & quot; block" Is the previous & quot; bock" The ID of each block is the hash code of the hash code of the block and the new transaction information (see an actual block). The other category refers to those who also & quot; Unverified & quot; The transaction information just paid above belongs to this category. When a network node receives new unverified transaction information (possibly more than one), it can calculate the book balance of each address at that time because the node keeps all the transaction information in history, so it can calculate whether the transaction information is valid, that is, whether there is enough balance in the payment account. After eliminating the invalid transaction information, it first takes out the last & quot; block" Then, the unverified transaction information is combined with the ID, and a verification code is added to form a new "block". It needs a lot of calculation to build a new block, because it needs to calculate the verification code, so that the above combination becomes a block, that is, the first several bits of the hash code of the block are 1. At present, the first 13 bits need to be 1 (generally, the specific method is uncertain), which means that if the block is generated by enumeration method, the average number of enumerations is 16 ^ 13. Using CPU resources to generate a block is called "gold mining", because the proction of the block will get a certain reward, and the reward information has been included in the block. When a network node generates a new block, it will broadcast to other network nodes. However, this network block may not be accepted by the network, because it is possible that other network nodes have proced the block earlier. Only the earliest block or the block with the largest number of subsequent blocks is valid, and the remaining blocks are no longer used as the initial blocks of the next block. How does the other party confirm that the payment is successful? When the payment information is distributed to the network node, the network node begins to calculate whether the transaction is valid (that is, whether the account balance is enough to pay), and attempts to generate blocks containing the transaction information. When six blocks (one direct block and five subsequent blocks) contain the transaction information, the transaction information is considered "verified", so that the transaction is formally confirmed, and the other party can confirm the successful payment. A possible problem is that I will pay the balance of address a to address B, and at the same time pay to address C. If I only verify that the single comparison transaction is valid. At this point, my way of cheating is to generate six blocks including B to B and six blocks including C to C before the truth is revealed. Because I need a very long CPU time to generate a block, compared with the whole network, the probability of my cheating success is very small. What is the motivation of network nodes to proce blocks? As can be seen from the above description, in order to make the transaction information effective, the network node needs to generate 1 and 5 subsequent blocks to contain the transaction information, and such block generation is very CPU intensive. How to let other network nodes help to proce blocks as soon as possible? The answer is very simple. The agreement stipulates that BTC will be rewarded for the address where the block is proced, as well as the Commission promised by both parties. At present, the reward for procing a block is 50btc, which will be halved every four years in the future. For example, the reward will be 25btc from 2013 to 2016. Is the transaction anonymous? Yes, and No. All bitcoin transactions are visible. We can check all transaction records of each account, such as mine. But what's different from the banking monetary system is that everyone's account itself is anonymous, and everyone can open many accounts. In general, anonymity is not as good as it claims. But bitcoin has another advantage in doing black market trading: it can't be frozen. Even if the police trace a bitcoin address, there is nothing they can do unless they trace the computer used by the exchange based on the Internet address. How to ensure that bitcoin does not depreciate? Generally speaking, in the case of equivalent trading activities, the value of money is inversely proportional to the amount of money issued. Unlike the traditional money market, the central bank can determine the amount of money issued. Bitcoin does not have a central issuing institution. Only by procing blocks can we get a certain amount of BTC currency. Therefore, bitcoin's new amount of money depends on: 1. The speed of procing blocks: bitcoin's agreement stipulates that the difficulty of procing blocks is fixed at an average of 2016 every two weeks, about 10 minutes. Moore's law of doubling CPU speed every 18 months will not speed up the proction of block. 2. The number of rewards for block proction: at present, 50 BTC is awarded for each block proced, which is halved every four years. In 2013, 25 BTC is awarded, and in 2017, 12.5 BTC is awarded. Considering the above two factors, bitcoin's currency issuing speed is not controlled by any single node in the network. Its protocol makes the currency stock known in advance, and the maximum stock is only 21 million BTC
2. How to use the three technical indicators to understand the rise and fall of bitcoin
coincola coying Cola
Global innovative digital asset trading platform
how to use the three technical indicators to understand the rise and fall of bitcoin
6 people agreed with the article
read it for you
4 minutes
recently, "bitcoin broke through $8000" has been on the hot search. For a while, bitcoin rose, reborn rose sharply, and Ethereum led the rise... A week later, this big play dominated by bitcoin didn't seem to come to an end, and the trading volume was once pushed up to 100 billion US dollars
in the investment world, "madness" and "fear" coexist. Today's "madness" stems from last year's long-term "fear". However, this time, coincola Cola Research Institute tracks and analyzes the technical indicators behind the rising market, and deconstructs the "passion" of the market with the "rationality" of data< (1) mining and bitcoin price
start with the relationship between mining and bitcoin. The core technology of bitcoin is "blockchain", which is connected by blocks. Each block corresponds to a bill. All transaction information and transfer records of bitcoin are recorded on the blockchain. Every other point in time, the bitcoin system will generate a random code on the system node. Due to distributed accounting, all computers on the Internet can search for the code. Whoever finds the code will generate a block and then get bitcoin. This process is mining. Calculating this random code requires a lot of GPU operations, so miners need to use mining machines with massive graphics cards to make profits
1. Bitcoin computing power: starting to pick up
remarks: June 2018-may 2019 bitcoin hash value
data source: bitcoin visual, coincola Research Institute
the above figure shows the bitcoin hash value. The hash value of the bitcoin network represents the computing power of the blockchain. The growth of computing power means that miners increase mining investment or increase the number of miners. Since the second half of 2018, the hash value has recovered from falling back to picking up, from 32eh / s at the end of the year to 50eh / s now, and the recent growth trend is remarkable. The continuous growth of bitcoin hash value (representing computing power) indicates that the market is optimistic about the future of bitcoin
2. Mining difficulty: stepped up
remarks: bitcoin difficulty from June 2018 to may 2019
data source: bitcoin visual, coincola Research Institute
the figure above shows bitcoin difficulty. Since 2019, the difficulty of bitcoin mining has increased in a step-by-step manner, from the low 5T to the current 7T. It can be seen that the rapid rise of bitcoin in this round has reced mining costs and increased market entry personnel. The increasing difficulty of mining means that there are profit opportunities in cryptocurrency market, and the market is generally optimistic< (2) the number of active addresses and transactions on the chain are important indicators reflecting the activity of cryptocurrency, which are highly correlated with the price of cryptocurrency
1. The number of active addresses on the bitcoin chain: a straight line rise
remarks: the number of active addresses on the bitcoin chain from June 2018 to may 2019
data source: coinmetrics, coincola Research Institute
active addresses refer to the addresses where transactions have taken place every day, that is, how many independent addresses conct transfer transactions on the chain every day. Since 2019, the number of active addresses on the bitcoin chain has been rising, especially in recent years. From 540.60143k in January to 832.592k now. It shows that the rapid growth of active users of cryptocurrency is a very positive signal for the market
2. The number of transactions on the bitcoin chain: continued to rise
remarks: the number of transactions on the bitcoin chain from June 2018 to may 2019
data source: bitinfo charts, coincola Research Institute
since 2019, the number of transactions on the bitcoin chain has continued to rise, from 235k in early 2019 to 374k now. Moreover, since April and may, after two rounds of sharp rise in the price of bitcoin, the number of transactions on the chain has remained at a high level, even showing signs of a short-term surge< (3) lightning network and bitcoin price
in essence, lightning network adds a layer to the basic layer of bitcoin blockchain in order to make the transaction fast and cheap. With the existence of lightning network, users can remit money to each other at any time and pay very little. Lightning network represents not only the technical level of bitcoin, but also the important basis of bitcoin value
1. Lightning network nodes: rapid growth
remarks: bitcoin lightning network nodes from January 2018 to may 2019
data source: bitinfo charts, coincola Research Institute
the test version of lightning network started on the bitcoin main network on March 15, 2018. The number of lightning network nodes was only 64 at the beginning of 2018 and increased to 2329 at the end of 2018. Since 2019, the number of lightning network nodes has increased rapidly, and now it has reached 4289. In less than half a year, the number of nodes has doubled. The continuous expansion of nodes indicates the continuous upgrading and development of bitcoin lightning network technology, which is an important indicator of bitcoin price
2. Lightning network capacity: speed up
remarks: bitcoin lightning network capacity from January 2018 to may 2019
data source: bitcoin visual, coincola Research Institute
the data above shows that as of May 15, 2019, bitcoin lightning network capacity has increased to 1039 BTC, equivalent to 833usd, while at the beginning of 2019, it is only 504btc, Lightning network capacity doubled, and the growth rate accelerated. This means that the expansion of bitcoin has been well solved in lightning network technology, which will help keep the payment channel active and effectively support the functional application of bitcoin
the performance of mining, chain trading and lightning network is closely related to the price of bitcoin. On the one hand, the rise of bitcoin price acts as a catalyst to stimulate its performance in mining, chain and lightning network; On the other hand, mining, chain trading and lightning network are the important cornerstone of bitcoin price trend and the important basis of bitcoin price expectation<
the right of the editor belongs to the author on May 21, 2019.
apply for reprint and share it with
&< br />< br />
coy Cola
bitcoin
Mining
comments
add comments...
recommended reading
Introction | what is mining< Bitcoin and blockchain are so popular that mining is no longer a new term. Many people agree with bitcoin's article. 123
understanding bitcoin mining in 3 minutes
many people outside the instry don't understand mining, such as hashing, fault tolerance, accounting, and blocking, and finally make a mining, It's all a mystery made by people in the instry. To write this short article is to elaborate several concepts, so that people outside the instry can quickly understand...
yuan Geng's article · 70 agrees with
a brief analysis of the top 20 virtual currencies
BTC bitcoin ranks first in market value, which is known as the "king of ten thousand coins", The article of "digital gold" real...
blockchain deposit · 15 agrees with
three minutes to understand what bitcoin is
1. The money we spend when we go to the center is issued by the national government, and the government and the law are all...
the article of up chain reference · 178 agrees with
what is bitcoin mining
coin 101 will use the most accurate, popular and concise language to introce the relevant basis of blockchain to you...
Dr. Yi's article · 8 agrees with
the difficulty and income calculation of bitcoin mining
foreword recently, we are very concerned about one thing, that is, after the BCC bifurcation, e to the difficulty adjustment and price rise, the miners in order to obtain higher income, He began to move to BCC for mining, but e to the influx of computing power, the next difficulty cycle will increase, and the miners will move to BTC again...
Article 42 of Bibo... Agrees with
the prediction about the collapse time of bitcoin
yesterday, he discussed bitcoin with people, and then suddenly found that the surge brought by the listing of futures may be the pit g by some big institutions, Bitcoin could collapse shortly after CME's CBOE listing. After the listing, the price will maintain a certain stability in a certain range
coincola coying Cola
Global innovative digital asset trading platform
how to use the three technical indicators to understand the rise and fall of bitcoin
6 people agreed with the article
read it for you
4 minutes
recently, "bitcoin broke through $8000" has been on the hot search. For a while, bitcoin rose, reborn rose sharply, and Ethereum led the rise... A week later, this big play dominated by bitcoin didn't seem to come to an end, and the trading volume was once pushed up to 100 billion US dollars
in the investment world, "madness" and "fear" coexist. Today's "madness" stems from last year's long-term "fear". However, this time, coincola Cola Research Institute tracks and analyzes the technical indicators behind the rising market, and deconstructs the "passion" of the market with the "rationality" of data< (1) mining and bitcoin price
start with the relationship between mining and bitcoin. The core technology of bitcoin is "blockchain", which is connected by blocks. Each block corresponds to a bill. All transaction information and transfer records of bitcoin are recorded on the blockchain. Every other point in time, the bitcoin system will generate a random code on the system node. Due to distributed accounting, all computers on the Internet can search for the code. Whoever finds the code will generate a block and then get bitcoin. This process is mining. Calculating this random code requires a lot of GPU operations, so miners need to use mining machines with massive graphics cards to make profits
1. Bitcoin computing power: starting to pick up
remarks: June 2018-may 2019 bitcoin hash value
data source: bitcoin visual, coincola Research Institute
the above figure shows the bitcoin hash value. The hash value of the bitcoin network represents the computing power of the blockchain. The growth of computing power means that miners increase mining investment or increase the number of miners. Since the second half of 2018, the hash value has recovered from falling back to picking up, from 32eh / s at the end of the year to 50eh / s now, and the recent growth trend is remarkable. The continuous growth of bitcoin hash value (representing computing power) indicates that the market is optimistic about the future of bitcoin
2. Mining difficulty: stepped up
remarks: bitcoin difficulty from June 2018 to may 2019
data source: bitcoin visual, coincola Research Institute
the figure above shows bitcoin difficulty. Since 2019, the difficulty of bitcoin mining has increased in a step-by-step manner, from the low 5T to the current 7T. It can be seen that the rapid rise of bitcoin in this round has reced mining costs and increased market entry personnel. The increasing difficulty of mining means that there are profit opportunities in cryptocurrency market, and the market is generally optimistic< (2) the number of active addresses and transactions on the chain are important indicators reflecting the activity of cryptocurrency, which are highly correlated with the price of cryptocurrency
1. The number of active addresses on the bitcoin chain: a straight line rise
remarks: the number of active addresses on the bitcoin chain from June 2018 to may 2019
data source: coinmetrics, coincola Research Institute
active addresses refer to the addresses where transactions have taken place every day, that is, how many independent addresses conct transfer transactions on the chain every day. Since 2019, the number of active addresses on the bitcoin chain has been rising, especially in recent years. From 540.60143k in January to 832.592k now. It shows that the rapid growth of active users of cryptocurrency is a very positive signal for the market
2. The number of transactions on the bitcoin chain: continued to rise
remarks: the number of transactions on the bitcoin chain from June 2018 to may 2019
data source: bitinfo charts, coincola Research Institute
since 2019, the number of transactions on the bitcoin chain has continued to rise, from 235k in early 2019 to 374k now. Moreover, since April and may, after two rounds of sharp rise in the price of bitcoin, the number of transactions on the chain has remained at a high level, even showing signs of a short-term surge< (3) lightning network and bitcoin price
in essence, lightning network adds a layer to the basic layer of bitcoin blockchain in order to make the transaction fast and cheap. With the existence of lightning network, users can remit money to each other at any time and pay very little. Lightning network represents not only the technical level of bitcoin, but also the important basis of bitcoin value
1. Lightning network nodes: rapid growth
remarks: bitcoin lightning network nodes from January 2018 to may 2019
data source: bitinfo charts, coincola Research Institute
the test version of lightning network started on the bitcoin main network on March 15, 2018. The number of lightning network nodes was only 64 at the beginning of 2018 and increased to 2329 at the end of 2018. Since 2019, the number of lightning network nodes has increased rapidly, and now it has reached 4289. In less than half a year, the number of nodes has doubled. The continuous expansion of nodes indicates the continuous upgrading and development of bitcoin lightning network technology, which is an important indicator of bitcoin price
2. Lightning network capacity: speed up
remarks: bitcoin lightning network capacity from January 2018 to may 2019
data source: bitcoin visual, coincola Research Institute
the data above shows that as of May 15, 2019, bitcoin lightning network capacity has increased to 1039 BTC, equivalent to 833usd, while at the beginning of 2019, it is only 504btc, Lightning network capacity doubled, and the growth rate accelerated. This means that the expansion of bitcoin has been well solved in lightning network technology, which will help keep the payment channel active and effectively support the functional application of bitcoin
the performance of mining, chain trading and lightning network is closely related to the price of bitcoin. On the one hand, the rise of bitcoin price acts as a catalyst to stimulate its performance in mining, chain and lightning network; On the other hand, mining, chain trading and lightning network are the important cornerstone of bitcoin price trend and the important basis of bitcoin price expectation<
the right of the editor belongs to the author on May 21, 2019.
apply for reprint and share it with
&< br />< br />
coy Cola
bitcoin
Mining
comments
add comments...
recommended reading
Introction | what is mining< Bitcoin and blockchain are so popular that mining is no longer a new term. Many people agree with bitcoin's article. 123
understanding bitcoin mining in 3 minutes
many people outside the instry don't understand mining, such as hashing, fault tolerance, accounting, and blocking, and finally make a mining, It's all a mystery made by people in the instry. To write this short article is to elaborate several concepts, so that people outside the instry can quickly understand...
yuan Geng's article · 70 agrees with
a brief analysis of the top 20 virtual currencies
BTC bitcoin ranks first in market value, which is known as the "king of ten thousand coins", The article of "digital gold" real...
blockchain deposit · 15 agrees with
three minutes to understand what bitcoin is
1. The money we spend when we go to the center is issued by the national government, and the government and the law are all...
the article of up chain reference · 178 agrees with
what is bitcoin mining
coin 101 will use the most accurate, popular and concise language to introce the relevant basis of blockchain to you...
Dr. Yi's article · 8 agrees with
the difficulty and income calculation of bitcoin mining
foreword recently, we are very concerned about one thing, that is, after the BCC bifurcation, e to the difficulty adjustment and price rise, the miners in order to obtain higher income, He began to move to BCC for mining, but e to the influx of computing power, the next difficulty cycle will increase, and the miners will move to BTC again...
Article 42 of Bibo... Agrees with
the prediction about the collapse time of bitcoin
yesterday, he discussed bitcoin with people, and then suddenly found that the surge brought by the listing of futures may be the pit g by some big institutions, Bitcoin could collapse shortly after CME's CBOE listing. After the listing, the price will maintain a certain stability in a certain range
3.
renrenfu financial and business school tells you that every bitcoin node will collect all unconfirmed transactions and gather them into a data block, which will be integrated with the previous data block. The miner node will attach a random adjustment number and calculate the SHA-256 hash value of the previous data block. The mining node keeps trying again and again until it finds the random adjustment number so that the generated hash value is lower than a specific target
because hash operation is irreversible, it is very difficult to find the required random adjustment number, which requires a continuous trial and error process that can predict the total number. At this time, the workload proof mechanism will play a role. When a node finds a satisfactory solution, it can broadcast its results to the whole network. Other nodes can receive the new data block and check whether it meets the specification. If other nodes do meet the requirements by calculating the hash value, then the data block is valid, and other nodes will accept the data block and attach it to their own chain
bitcoin mining uses SHA-256 hash value operation. This algorithm will carry out a large number of 32-bit integer circular right shift operations
exhaustive verification until it finds a data that meets the requirements. This meaningless data is a dollar
4. Jinwowo group, based on the blockchain model architecture, does the analysis in the following way:
1 - data layer: data block, chain structure and time stamp
2 - network layer: P2P network, propagation mechanism, verification mechanism
3 - consensus layer: pow, POS, dpos
4 - incentive layer: issuance mechanism, distribution mechanism
5 - contract layer: script code, algorithm mechanism, smart contract
6-application layer: encapsulates various application scenarios
in the future, jinwowo group will focus on promoting the legal circulation and commercial application of big data with blockchain technology.
1 - data layer: data block, chain structure and time stamp
2 - network layer: P2P network, propagation mechanism, verification mechanism
3 - consensus layer: pow, POS, dpos
4 - incentive layer: issuance mechanism, distribution mechanism
5 - contract layer: script code, algorithm mechanism, smart contract
6-application layer: encapsulates various application scenarios
in the future, jinwowo group will focus on promoting the legal circulation and commercial application of big data with blockchain technology.
5.
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 />
6. Fool tests Summoner
[comedy + compare h bar]<
grandson of the slippery ghost
[so this is introced by a friend = v = I haven't seen it]
black cat
[male master is a killer, and he was called the terminator of hell later because he was influenced by Shaye]
holy mark of the wind
[absolutely recommended!! The handsome male protagonist is the contractor, controlling the wind is the wind warlock, while the female owner is the famous fire warlock family. Then they quarrel when they meet, but they have very good feelings. They are both arrogant. But later, another person who lives in the male owner's memory appears. The male owner of the weak and weak shrimp suddenly knows that his family has the power to become a robber. Then turn around and turn into a robber. It's very handsome
goblin's tail
[keep pushing. Magic. The painting style is beautiful, the plot is better, it's just a little hot, but you're sure to like it!]
leaves... If it's not enough, then you go to QQ, I'm telling you, I've seen animation ~ give me 0.0
[comedy + compare h bar]<
grandson of the slippery ghost
[so this is introced by a friend = v = I haven't seen it]
black cat
[male master is a killer, and he was called the terminator of hell later because he was influenced by Shaye]
holy mark of the wind
[absolutely recommended!! The handsome male protagonist is the contractor, controlling the wind is the wind warlock, while the female owner is the famous fire warlock family. Then they quarrel when they meet, but they have very good feelings. They are both arrogant. But later, another person who lives in the male owner's memory appears. The male owner of the weak and weak shrimp suddenly knows that his family has the power to become a robber. Then turn around and turn into a robber. It's very handsome
goblin's tail
[keep pushing. Magic. The painting style is beautiful, the plot is better, it's just a little hot, but you're sure to like it!]
leaves... If it's not enough, then you go to QQ, I'm telling you, I've seen animation ~ give me 0.0
7. It's easy to trade legal money and then buy and sell it. Bloex can buy half price bitcoin.
8.
Bitcoin is actually a useless string of numbers, but it is recognized as useful, just like diamonds, antiques, calligraphy and paintings, game skin and so on. They can't be eaten or used, but we will recognize their value
"mining" just allows more people to participate in the construction of blockchain network. Is it really good that so many electricity charges are used to "calculate" a series of virtual values? Bitcoin is not a hedge. The price of bitcoin fluctuates greatly. Speculation on bitcoin may become rich overnight or become poor overnight. Bitcoin is not as safe as it claims. In 2014, the world's largest bitcoin trading website, mtgox, was hacked and went bankrupt, and the $467 million worth of bitcoin evaporated instantly. Criminals use it to launder money, evade taxes and so on. It is also quite difficult for the government to investigate. The above personal opinions are welcome to be criticized and corrected. Agree with me, please click like before you go, thank you! Like me, please pay attention to me, thank you again
9. The client does not need to know the real random number. The client (also the system) actually wants the hash value of the "random number" to be less than a certain value
for example, the value of sha256 of 041665464 (random number) is: (hexadecimal) 0ffffffff... (if)
it does not meet the requirement of less than 00ffffff, so it is not a block
the value of sha256 of 041665465 (random number) is: (hexadecimal) 000ffffff... (if)
it meets the requirement of less than 00ffffff, so it is a block
in fact, it is very difficult to find a random number less than a hash value, which is the principle of workload proof
the value to be less than (00ffff...) is variable (difficulty), which varies with time and computing power.
for example, the value of sha256 of 041665464 (random number) is: (hexadecimal) 0ffffffff... (if)
it does not meet the requirement of less than 00ffffff, so it is not a block
the value of sha256 of 041665465 (random number) is: (hexadecimal) 000ffffff... (if)
it meets the requirement of less than 00ffffff, so it is a block
in fact, it is very difficult to find a random number less than a hash value, which is the principle of workload proof
the value to be less than (00ffff...) is variable (difficulty), which varies with time and computing power.
Hot content