What does blockchain dig point mean

1.

In 2009, bencong invented bitcoin, and set that there are only 21 million bitcoins. By participating in the proction of blocks and providing proof of work (POW), he can get the reward of bitcoin network. This process is mining

the concept of "mining" comes from the existing concepts in our real economic life, such as gold mining and silver mining. Because minerals are valuable, it drives people to pay labor to dig

another important point of bitcoin mining is that the miners who participate in mining recognize the value of bitcoin, and some of them are willing to spend money in the bitcoin market. Therefore, the mining of bitcoin is meaningful

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currency characteristics of bitcoin

1, decentralized

bitcoin is the first distributed virtual currency, and the whole network is composed of users without central bank. Decentralization is the guarantee of bitcoin's security and freedom

2, bitcoin can be managed on any computer connected to the Internet. No matter where you are, anyone can dig, buy, sell or collect bitcoin

3, exclusive ownership

controlling bitcoin requires a private key, which can be stored in any storage medium in isolation. No one can get it except the user himself

4, low transaction cost

bitcoin can be remitted free of charge, but in the end, about 1 bitfen transaction fee will be charged for each transaction to ensure faster transaction execution

5, no hidden cost

as a means of payment from a to B, bitcoin has no cumbersome limit of quota and proceres. If you know the other party's bitcoin address, you can pay

6, cross platform mining

users can explore the computing power of different hardware on many platforms

2. Mining is a way of exchanging time for space and buying currency at fixed cost. The growth of computing power, the rise and fall of currency price and the update of equipment will be in a dynamic balance. As long as you are optimistic about the blockchain and feel that you don't have the ability to stir up money with high price and low price, investment and mining will be a good choice for blockchain investment. Can contact NB cloud mining, mining agent operation, more professional, every day there are benefits.

3.

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

4. Blockchain is a kind of technology. Blockchain technology is a decentralized distributed ledger database. There are many applications based on blockchain technology.

mining is a proct based on blockchain technology. Mining refers to the virtual currency launched by various companies, which is also called token. If the name is different, the miner is called miner

5. Before specifically talking about what mining is, you need to know what blockchain is
to put it simply, blockchain is a new application mode integrating various computer technologies. Just treat it as a new technology. The network constructed by blockchain technology has the characteristics of "decentralization", "information tampering", "openness", "anonymity" and "security and reliability". These technologies can be applied in many fields, in short, it is very powerful ~
miner, a simple understanding is a more advanced computer, miner is to contribute to the blockchain network, you can regard miner as the guardian of blockchain
with mining machines, the blockchain network can operate normally. These mining machines are constantly doing calculations to provide computing power for the blockchain network. When the mining machine makes the correct calculation, the whole blockchain network will reward the mining machine with the corresponding digital currency. This process is called mining
if you also want to make a "contribution" to the blockchain, you need to download the mining system to start. Oh, let's have a look.