ICBC block chain mining 2020
Suppose you understand the blockchain. To put it simply, the blockchain generates a new block every ten minutes to store all the transaction information in the blockchain. This block is equivalent to a network account book, which correctly time stamps all the transactions of the whole network in the past ten minutes. The question is who will build it? The "miner" on the blockchain is to compete for the bookkeeping right of a block in the past ten minutes. The rule of competition is to solve the sha256 problem while correctly bookkeeping. Who can prove that his computer has the fastest computing power can compete for the legal bookkeeping right of the block in the past ten minutes. This is the "mining" process. In the bitcoin blockchain, miners who dig mines can get certain bitcoin rewards. Therefore, miner's more essential function is "bookkeeper"
in his bitcoin white paper, Nakamoto describes in detail the process of establishing the credit system:
Step 1: in order to make the whole network recognize effective, every transaction must be broadcast to each node (node: miner)
Step 2: each miner node should correctly stamp each transaction in the ten minutes and record it in that block
Step 3: each miner node should compete for the legal bookkeeping right of this 10 minute block by solving the sha256 problem, and strive for the reward of 25 bitcoins (50 bitcoins every 10 minutes in the first four years, decreasing by half every four years)
Step 4: if a miner node solves the ten minute sha256 problem, TA will publish all the time stamped transactions recorded in the ten minute block of TA to the whole network, which will be checked by other miner nodes in the whole network
Step 5: other miners in the whole network check the correctness of the block's accounting (because they are also stamping the time stamp for accounting, but they do not compete for the legal block's accounting right, so there is no reward). If there is no error, they will compete for the next block after the legal block, thus forming a single block chain of legal accounting, That is the general ledger of bitcoin payment system - blockchain
generally speaking, each transaction must go through six block confirmations, that is, six ten minute bookkeeping, before it can be recognized as a legal transaction on the blockchain. The following is the accounting format of bitcoin:
so the so-called "bitcoin" is such a billing system: it includes the owner using the private key to make an electronic signature and pay to the next owner, and then the "miners" of the whole network stamp the account to form a blockchain Network)
if you want to learn more about blockchain information, it is recommended that you use Baijia, mustard circle and other popular B circle media. The amount and richness of information are more and better than those on the general network. If you want to ask technical questions, you can take a look at the links below, hoping to help you with the
Web links
with the development of
blockchain,
digital currency
has been widely recognized, and more and more people are engaged in mining.
mining machine
gym mining machine is recommended, with more advanced intelligent technology.
generally speaking, bitcoin and cryptocurrency tokens provide you with more control. You effectively cut the middleman between you and your money. No bank can decide how long a transaction will take and how much it will cost. You can also control where funds are stored and how they are accessed. Of course, control brings corresponding responsibilities
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one of the main advantages of using bitcoin is that it provides privacy and relative anonymity. You don't need to provide any personal details to access the bitcoin wallet. All you need is a device to store it - even a piece of paper. Bitcoin transactions are only linked to your wallet address
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bitcoin network is essentially a point-to-point payment system. This allows you and you to remit money to anyone who participates in the party. You don't have to rely on the bank to do the work to make the transaction effective. In Ethernet, the risk of payment loss is small, which eventually makes it a more reliable way of payment
8. Investing in
bitcoin wasn't worth a lot of money ten years ago. Let's see where it has been since 2009. From a few dollars in December 2017 to nearly $20000. At the time of writing, it is now stable at around $6000. As more and more people adopt bitcoin, bitcoin will not be everywhere. Investing in it may be risky, but it's absolutely profitable.