Does Ethereum mine mainly consume electricity

2. Now there are many professional miners who can really make money. Their investment is relatively large, and they need to be built near hydropower stations in remote areas, because mining consumes a lot of electricity, and the cost of electricity is almost the vast majority of the cost of bitcoin mining. Indivial investors, if there is a channel, can buy shares, otherwise in the city is almost unable to make money.

3. At present, defi liquidity mining is the hottest, so you can use Eth and give it to the exchange for investment. It mainly depends on whether the exchange you choose has enough weight. If you choose the mining service of currency, as one of the four major exchanges, I think it is very important. Then the threshold of its procts is low. I think it is the best mining method at present.

4. At present, most of the mainstream Ethereum mining machines in the market come from bitmainland and Jianan Yun. However, with the decline of Ethereum's price, the profits brought by mining have been very meager. Investors can choose to invest in Ethereum on the digital currency exchange. At present, the mainstream digital currency transactions in the market are all coin security, fire coin network, bitnet, etc.

5. The token of Ethereum is proced in the process of mining, with a mining rate of 5 Ethereum coins per piece. The mining process of Ethereum is almost the same as that of bitcoin. For each transaction, miners can use the computer to run the unique title metadata of the block through hash function, and guess the answer repeatedly and quickly until one of them wins

many new users believe that the sole purpose of mining is to generate ether in a way that does not require a central issuer (see our guide "what is ether?"). It's true. The token of Ethereum is proced in the process of mining, with a mining rate of 5 Ethereum coins per piece. But mining is at least as important. Usually, banks are responsible for keeping accurate records of transactions. They make sure that money is not created out of thin air and that users don't cheat and spend money many times. However, blockchain introces a new way to keep records, the whole network instead of intermediary, to verify transactions and add them to the public ledger

Ethereum mining

although "no trust" or "trust minimization" monetary system is the goal, there are still people who need to ensure the security of financial records and ensure that no one cheats. Mining is one of the innovations that makes decentralized records possible. Miners have reached a consensus on the history of transactions in terms of preventing fraud (especially double spending on ether) - an interesting issue that hasn't been addressed before the decentralized currency works on the blockchain. While Ethereum is looking at other ways to reach a consensus on the effectiveness of the deal, mining currently keeps the platform together

how mining works
today, the mining process of Ethereum is almost the same as that of bitcoin. For each transaction, the miner can use the computer to guess the answer repeatedly and quickly until one of them wins. More specifically, the miner will run the unique header metadata (including time stamp and software version) of the block through the hash function (which will return a fixed length, unordered string of numbers and letters, which appears to be random), changing only the 'nonce value', which will affect the hash value of the result

if the miner finds a hash that matches the current target, the miner will be granted ether and broadcast the block across the network for each node to verify and add to their own ledger . If miner B finds the hash, miner a stops working on the current block and repeats the process for the next block. It's hard for miners to cheat in this game. There is no way to fake the work and come up with the right answer to the puzzle. That's why solving puzzles is called "proof of work."

on the other hand, others have little time to verify whether the hash value is correct, which is exactly what each node does. About every 12-15 seconds, a miner finds a stone. If the miner starts to solve the puzzle faster or slower than this, the algorithm will automatically re adjust the difficulty of the problem so that the miner can rebound to about 12 seconds of solution time

miners earn these ethers randomly, and their profitability depends on their luck and the computing power they put in. The specific workload verification algorithm used by Ethereum is called "ethash", which aims to require more memory, making it difficult to mine with expensive ASIC. Special mining chips are now the only profitable way to mine bitcoin

in a sense, ethash may have achieved this goal successfully, because dedicated ASIC is not available for Ethereum (at least not yet). In addition, as Ethereum aims to shift from proof of work mining to "proof of equity" (which we will discuss below), buying ASIC may not be a wise choice because it may not prove useful for a long time< However, Ethereum may never need miners. Developers plan to abandon proof of work, the algorithm currently used by the network to determine which transactions are valid and protect them from tampering to support proof of equity, which is guaranteed by token owners. If and when the algorithm is launched, proof of equity can become a means to achieve distributed consensus, and the consensus uses less resources.

6. CPU
Intel Pentium g4560
￥ 390

radiator Kyushu Fengshen xuanbing 400 ￥ 60
motherboard Pansheng b250a-btc ￥ 699
memory Kingston 8g 2400 ￥ 364
Pico gtx1060 black general * 6 ￥ 8994
hard disk Pico Tiejia battle general 120g SSD ￥ 359
chassis 6 Card mining rack ￥ 999
power xinlongyuan hin1600w-atxg1 ￥ 425
adapter card pciex1 to x16 adapter card * 6 ￥ 180
keyboard and mouse installation user optional ---
display user optional----

7.

Recently, bitcoin and Ethereum's two major digital currencies have gone up and down, which has led to a new upsurge in mining. However, the waste of electricity in mining has also become a hidden danger. Inner Mongolia officially announced today that all virtual currency mining projects will be closed at the end of April. The development and Reform Commission of the Inner Mongolia Autonomous Region recently issued the "on ensuring the completion of & lt; The fourteenth five year plan; It is planned to comprehensively clean up and shut down the virtual currency mining projects, withdraw all of them before the end of April, and prohibit the construction of new virtual currency mining projects. Inner Mongolia has set the goal of double control of energy consumption in 2021, that is, the energy consumption per unit GDP will decrease by 3%, the increment of energy consumption will be controlled at about 5 million tons of standard coal, the growth rate of total energy consumption will be controlled at about 1.9%, and the energy consumption per unit instrial added value (equivalent value) will decrease by more than 4%. The consultation period is from February 25, 2021 to March 3, 2021{ RRRRR}

according to 2020 data, the power consumption of a single bitcoin transaction is equivalent to that of a British family in the past two months. According to researchers at Cambridge University, bitcoin consumes about 121.36 billion kilowatt hours (TWH) of electricity a year, which is unlikely to decrease unless the value of bitcoin declines

How big is

121.36 billion kilowatt hours (TWH)? By comparison, bitcoin's annual power consumption exceeded that of Argentina, the Netherlands and the United Arab Emirates, and approached that of Norway. Enough to see, the virtual currency mining project is really electricity consuming

8. According to Blizzard's setting, Warcraft uses five farmers to collect gold, and more than five will be idle population
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