Bitcoin away
Publish: 2021-04-23 01:30:13
1. How does bitcoin work? From the perspective of operation, bitcoin is actually a decentralized account book on the Internet
centralized account book (bank)
the bank is a centralized account book, which is stored in the bank's central database, and it says:
Zhang San's a account balance is 3000 yuan, The balance of Li Si's B account is 2000 yuan...
when Zhang San wants to transfer 1000 yuan to Li Si's B account through a account:
Zhang San goes to the bank and submits the transfer request to the bank
the bank confirms Zhang San's identity through bank card password and checks whether Zhang San's a account has enough balance
after passing the check, The bank adds a transfer record: account number a transfers 1000 yuan to account number B,
and modifies the balance: account number a balance = 3000-1000 = 2000 yuan, account number B balance = 2000 + 1000 = 3000 yuan
decentralized account book
suppose there is such a small village where people do not rely on the bank, but use the account book to record who has how much money, Everyone's account book says:
Zhang San's a account balance is 3000 yuan, Li Si's B account balance is 2000 yuan...
when Zhang San wants to transfer 1000 yuan to Li Si's B account through a account,
Zhang San roars: attention, I transfer 1000 yuan to Li Si's B account with a account
the villagers near Zhang San listen to Zhang San's voice and check whether Zhang San's a account has enough balance
after passing the inspection, the villagers write on their account books: account a transfers 1000 yuan to account B
and modify the balance: account a balance = 3000-1000 = 2000 yuan, account B balance = 2000 + 1000 = 3000 yuan
the villagers near Zhang San tell the distant villagers about the transfer until everyone knows about the transfer, so as to ensure the consistency of everyone's account book
decentralized account book (bitcoin)
bitcoin users run bitcoin client software on the computer, such a computer is called a node
a large number of node computers connect with each other to form a peer-to-peer network like spider web
when Zhang San wants to transfer 1 bitcoin to Li Si's B account through a account,
Zhang San broadcast the transfer transaction requirements to the surrounding nodes: a account transfers 1 bitcoin to B account, and signs with the private key of a account
(the private key of account a can be simply understood as the password of account a, and the bitcoin on account a can be used as long as the private key of account a is known)
the nodes around Zhang San check the authenticity of the transaction signature through the public key of account a, and check whether Zhang San's account a has enough balance
after the check, the node writes to its own account book: account a transfers 1 bitcoin to account B,
and modify the balance: a account balance = 3 bitcoin - 1 bitcoin = 2 bitcoin, B account balance = 2 bitcoin + 1 bitcoin = 3 bitcoin
the node broadcasts the transaction to the surrounding nodes and transmits it to all the nodes until all the nodes receive the transaction
bitcoin's decentralized public ledger is called blockchain. This is the simplest description of the operation of bitcoin. Of course, the actual operation of bitcoin is far more complex than this. We will explain it further in the future.
centralized account book (bank)
the bank is a centralized account book, which is stored in the bank's central database, and it says:
Zhang San's a account balance is 3000 yuan, The balance of Li Si's B account is 2000 yuan...
when Zhang San wants to transfer 1000 yuan to Li Si's B account through a account:
Zhang San goes to the bank and submits the transfer request to the bank
the bank confirms Zhang San's identity through bank card password and checks whether Zhang San's a account has enough balance
after passing the check, The bank adds a transfer record: account number a transfers 1000 yuan to account number B,
and modifies the balance: account number a balance = 3000-1000 = 2000 yuan, account number B balance = 2000 + 1000 = 3000 yuan
decentralized account book
suppose there is such a small village where people do not rely on the bank, but use the account book to record who has how much money, Everyone's account book says:
Zhang San's a account balance is 3000 yuan, Li Si's B account balance is 2000 yuan...
when Zhang San wants to transfer 1000 yuan to Li Si's B account through a account,
Zhang San roars: attention, I transfer 1000 yuan to Li Si's B account with a account
the villagers near Zhang San listen to Zhang San's voice and check whether Zhang San's a account has enough balance
after passing the inspection, the villagers write on their account books: account a transfers 1000 yuan to account B
and modify the balance: account a balance = 3000-1000 = 2000 yuan, account B balance = 2000 + 1000 = 3000 yuan
the villagers near Zhang San tell the distant villagers about the transfer until everyone knows about the transfer, so as to ensure the consistency of everyone's account book
decentralized account book (bitcoin)
bitcoin users run bitcoin client software on the computer, such a computer is called a node
a large number of node computers connect with each other to form a peer-to-peer network like spider web
when Zhang San wants to transfer 1 bitcoin to Li Si's B account through a account,
Zhang San broadcast the transfer transaction requirements to the surrounding nodes: a account transfers 1 bitcoin to B account, and signs with the private key of a account
(the private key of account a can be simply understood as the password of account a, and the bitcoin on account a can be used as long as the private key of account a is known)
the nodes around Zhang San check the authenticity of the transaction signature through the public key of account a, and check whether Zhang San's account a has enough balance
after the check, the node writes to its own account book: account a transfers 1 bitcoin to account B,
and modify the balance: a account balance = 3 bitcoin - 1 bitcoin = 2 bitcoin, B account balance = 2 bitcoin + 1 bitcoin = 3 bitcoin
the node broadcasts the transaction to the surrounding nodes and transmits it to all the nodes until all the nodes receive the transaction
bitcoin's decentralized public ledger is called blockchain. This is the simplest description of the operation of bitcoin. Of course, the actual operation of bitcoin is far more complex than this. We will explain it further in the future.
2. Bitcoin mining is through the mining node, and then the bitcoin mining machine (computer) constantly consumes its own computing power in exchange for bitcoin. In the bitcoin system, through its own algorithm, it can dynamically adjust the mining difficulty of the nodes in the whole network, and ensure that every 10 minutes, one node will succeed in mining. At this time, the bitcoin system will reward this person with a certain amount of bitcoin. Bitcoin mining is a complicated process, but it usually goes through these steps: preparation, finding the mine pool, registering the mine pool account, setting the mine pool account, downloading the bitcoin miner (software) and configuring the bitcoin miner; After the above steps, you can mine
the content of this article comes from: financial code of the people's Republic of China: application edition, China Law Press
the content of this article comes from: financial code of the people's Republic of China: application edition, China Law Press
3.
Bitcoin mining is a process of using computer hardware to do mathematical calculation for bitcoin network to confirm transactions and improve security
4. I personally think that bitcoin is recognized by many people and has its own characteristics, so many people pursue it
first, there is no government and no center, which means that your bitcoin will not be artificially controlled to grow or decrease
the second feature is the concealment. When a house is ransacked, cash, real estate, equity and so on can be found. Bitcoin won't
the third feature is global. When you want to go abroad, you can't take gold and control the amount of cash. How can you go abroad freely? As long as there are countries with bitcoin exchanges, this situation can be met
these are features that gold and cash cannot do.
first, there is no government and no center, which means that your bitcoin will not be artificially controlled to grow or decrease
the second feature is the concealment. When a house is ransacked, cash, real estate, equity and so on can be found. Bitcoin won't
the third feature is global. When you want to go abroad, you can't take gold and control the amount of cash. How can you go abroad freely? As long as there are countries with bitcoin exchanges, this situation can be met
these are features that gold and cash cannot do.
5. There are mainly two kinds of bitcoin algorithms, which are elliptic curve digital signature algorithm and sha256 hash algorithm
elliptic curve digital signature algorithm is mainly used in the generation process of bitcoin public key and private key, which is the cornerstone of bitcoin system. SHA-256 hash algorithm is mainly used in the workload proof mechanism of bitcoin
the principle of bitcoin generation is the special solution generated by complex operation, and mining is the process of finding the special solution. However, the total number of bitcoin is only 21 million, and with the continuous mining of bitcoin, the more difficult it will be to proce bitcoin, and the cost of acquiring bitcoin may be higher than the price of bitcoin itself
the bitcoin block consists of a block header and the transaction list contained in the block. The size of the block header is 80 bytes, which is composed of 4-byte version number, 32 byte hash value of the previous block, 32 byte Merkle root hash, 4-byte timestamp (current time), 4-byte current difficulty value and 4-byte random number. A block header with a fixed length of 80 bytes is the input string used to prove the workload of bitcoin. Constantly change the random number in the block header, that is, the value of nonce, and do double sha256 operation on the block header after each change, and compare the result value with the target value of the current network. If it is less than the target value, the problem is solved successfully, and the workload is proved to be complete
the essence of bitcoin is actually the unique solution of a set of equations generated by a bunch of complex algorithms. Bitcoin is the first distributed virtual currency in the world, which has no specific distribution center. The network of bitcoin is composed of all users, because there is no center to ensure the security of data.
elliptic curve digital signature algorithm is mainly used in the generation process of bitcoin public key and private key, which is the cornerstone of bitcoin system. SHA-256 hash algorithm is mainly used in the workload proof mechanism of bitcoin
the principle of bitcoin generation is the special solution generated by complex operation, and mining is the process of finding the special solution. However, the total number of bitcoin is only 21 million, and with the continuous mining of bitcoin, the more difficult it will be to proce bitcoin, and the cost of acquiring bitcoin may be higher than the price of bitcoin itself
the bitcoin block consists of a block header and the transaction list contained in the block. The size of the block header is 80 bytes, which is composed of 4-byte version number, 32 byte hash value of the previous block, 32 byte Merkle root hash, 4-byte timestamp (current time), 4-byte current difficulty value and 4-byte random number. A block header with a fixed length of 80 bytes is the input string used to prove the workload of bitcoin. Constantly change the random number in the block header, that is, the value of nonce, and do double sha256 operation on the block header after each change, and compare the result value with the target value of the current network. If it is less than the target value, the problem is solved successfully, and the workload is proved to be complete
the essence of bitcoin is actually the unique solution of a set of equations generated by a bunch of complex algorithms. Bitcoin is the first distributed virtual currency in the world, which has no specific distribution center. The network of bitcoin is composed of all users, because there is no center to ensure the security of data.
6. First of all, I don't object to your attitude towards bitcoin. Bitcoin is just a series of irregular numbers, without any credit endorsement from any government or institution, and has no intrinsic value. Many people think so, and even think bitcoin is a mirage and a Ponzi scheme
I'm not going to convince you, I just want to say my understanding of the value of bitcoin:
bitcoin has value because it is useful as a form of currency. Bitcoin has the mathematical characteristics of money (persistence, portability, interchangeability, scarcity, separability and identifiability) rather than relying on physical characteristics (such as gold and silver) or the trust of central authorities (such as fiat money). In short, bitcoin is backed by mathematics. With these characteristics, a form of money to have value requires trust and use. In contrast, this can be reflected in its growing base of users, businesses and start-ups. Like all currencies, the value of bitcoin comes directly from people who are willing to accept it as a means of payment, which is the only source
many well-known figures who opposed bitcoin before have graally softened and even changed their attitudes. These people have relevant reports on bitcoin home. You can see the reasons for their attitude change.
I'm not going to convince you, I just want to say my understanding of the value of bitcoin:
bitcoin has value because it is useful as a form of currency. Bitcoin has the mathematical characteristics of money (persistence, portability, interchangeability, scarcity, separability and identifiability) rather than relying on physical characteristics (such as gold and silver) or the trust of central authorities (such as fiat money). In short, bitcoin is backed by mathematics. With these characteristics, a form of money to have value requires trust and use. In contrast, this can be reflected in its growing base of users, businesses and start-ups. Like all currencies, the value of bitcoin comes directly from people who are willing to accept it as a means of payment, which is the only source
many well-known figures who opposed bitcoin before have graally softened and even changed their attitudes. These people have relevant reports on bitcoin home. You can see the reasons for their attitude change.
7. Bitcoin is not issued and forced to use by countries or regions. The value represented by bitcoin fluctuates greatly, which may have a certain impact on the national economy.
8. I also want to know your question. For the same question, I have worked out one. Doesn't it need to broadcast all over the network? Doesn't it need time to broadcast all over the network? What should we do if there is a conflict? Who decides the time? I see some information that it's a random choice. If it's a bifurcation, who will decide and merge? Looking forward to expert answers
Hot content