Mining algorithm of encrypted digital currency

1.

mining is a nickname for the exploration method of acquiring bitcoin. Because of its working principle is very similar to mining minerals, so named. In addition, bitcoin explorers who do mining work are also known as miners

bitcoin network generates new bitcoin through "mining". In essence, the so-called "mining" is to use computers to solve a complex mathematical problem to ensure the consistency of bitcoin network distributed accounting system

bitcoin network will automatically adjust the difficulty of mathematical problems, so that the whole network can get a qualified answer about every 10 minutes

then the bitcoin network will generate a certain amount of bitcoin as a reward to reward the person who gets the answer

extended data:

to be a miner, just "mine" bitcoin and search for 64 bit numbers by computer. By repeatedly decrypting with a computer, it competes with other gold miners to provide the number needed for the bitcoin network

if the computer can successfully create a set of numbers, it will get 25 bitcoins. Bitcoin is decentralized. It needs to create a fixed number of bitcoins per unit of computing time. It can get 25 bitcoins every 10 minutes

by 2140, the upper limit of bitcoin in circulation will reach 21 million. In other words, bitcoin system can be self-sufficient, which can be translated into coding to resist inflation and prevent others from sabotaging< br />

2. Every digital currency has its own unique algorithm, so you have to think about your application, and then you can do it according to whether you want to do it yourself. If you do it, you will be the mathematical genius.

3.

Digital cryptocurrency is a kind of currency that is not issued by legal tender institutions and controlled by the central bank. It is based on the open source code of a group of equations calculated by computers all over the world, and is generated by a large number of calculation processing of computer graphics card and CPU. It uses the design of cryptography to ensure the security of all aspects of currency circulation

development materials:

1. definition of digital currency:

   digital currency is abbreviated as digiccy, which is the abbreviation of "digital currency" in English and the alternative currency in the form of electronic currency. Both digital gold coin and cryptocurrency belong to digiccy< br />

   

4. Now bitcoin mining is not something ordinary people can do. The other mines are air money. Cheat IQ is not enough, full of fantasy of life.

5. There is no way to count this, because there are so many digital currencies in this algorithm. One of the most famous is bitcoin, which has more than half of the 21 million bitcoins. There is no way to make specific statistics of Shanzhai coins of other similar algorithms. Moreover, the number can be changed, just change a number in the code

in addition to bitcoin, there are also well-known digital currencies such as Leyte coin and Ruitai coin.

6. 1. Digital currency is abbreviated as digiccy, which is the abbreviation of "digital currency" in English. It is an alternative currency in the form of electronic currency. Both digital gold coin and cryptocurrency belong to digiccy

2. Digital currency is a kind of unregulated and digital currency, which is usually issued and managed by developers and accepted and used by members of specific virtual communities. The European Banking authority defines virtual currency as a digital representation of value, which is not issued by the central bank or authorities, nor linked with legal currency. However, because it is accepted by the public, it can be used as a means of payment, or it can be transferred, stored or traded in electronic form
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7. 1. Real name authentication: Certified businesses need to pass more stringent authentication than ordinary businesses, and super businesses need to pass more stringent authentication than certified businesses
2. Customer service: certification business, enjoy one-to-one exclusive services, exclusive standards, join the certification business community, etc
3. Applicable rules: Certified merchants are required to abide by the rules more strictly than ordinary merchants, and super merchants are required to abide by the rules more strictly than certified merchants
4. Scope of application: global businesses support foreign currency transactions (US dollar, Singapore dollar, etc.).

8.

PSTN (public switched telephone network)

is a global voice communication circuit switched network, including commercial and government-owned

includes commercial and government-owned. It also refers to simple old fashioned telephone service (POTS). It is a collection of all circuit switched telephone networks since Alexander Graham Bell invented the telephone. Today, in addition to the final connection between the user and the local switchboard, the PSTN has been fully digitized technically

extended data:

the main components of PSTN network are as follows:

1. Transmission system: cable (cable, optical fiber) is the main, cable and wireless (satellite, ground and radio) are used alternately, and the transmission system transits from PDH to SDH and DWDM

2. Switching system: the switching equipment in the telephone office, the exchange, has been programmed and digitized graally, and the connection process is controlled by computer

User system: including telephone, fax and other terminals, and a pair of wires used to connect them with the switch (called user loop). The user terminal has been graally digitized, multimedia and intelligent, and the user loop has been digitized and broadband

Signaling system: in order to realize the communication between users, various control signals are provided between exchange offices, which are mainly call establishment and release

access through PSTN:

dial up Internet / Intranet / LAN- Network interconnection between two or more LANs

Although PSTN has some problems in data transmission, it is still an irreplaceable networking medium (Technology). In particular, the application of xDSL technology and procts invented by Bellcore, which is based on PSTN, expands the development and application space of PSTN, making the networking speed between 9mbps and 52mbps

9.

The Chinese government has banned the circulation of bitcoin on all platforms, closed all platforms for trading bitcoin, and regarded bitcoin as a haven for criminal activities such as money laundering

In addition, bitcoin will eliminate the role of middleman in the near future& mdash; As a result, no institution or government can control or monopolize this decentralized currency

the transaction of bitcoin is completed in a direct way, without any financial intermediary, that is to say, bitcoin can complete the transaction directly between the buyer and the seller, without the need for a third party or other traditional banknotes as an intermediary. Therefore, bitcoin will pose a major threat to the banking system{ RRRRR}

based on two characteristics, the Chinese government allows the exploitation of bitcoin. According to a report released by bitooda, a professional cryptocurrency company, China has become the world's fertile ground for cryptocurrency mining, which accounts for more than 50% of the world's total mining

it is reported that the value of a bitcoin is currently equivalent to US $31000, which means that China has made huge profits from mining. Therefore, it can be said that the Chinese government is treating bitcoin in a way that is in line with its national interests, while protecting the digital RMB from any competitors. This shows that China is full of wisdom and rationality when dealing with bitcoin, and makes it in line with national interests

10. I'm a lawyer. I've never heard of such a law