Node and miner
unlike most currencies, bitcoin does not rely on specific currency institutions. It is generated by a large number of calculations based on specific algorithms. Bitcoin economy uses a distributed database composed of many nodes in the whole P2P network to confirm and record all transactions, and uses cryptography design to ensure the security of all aspects of currency circulation. The decentralized nature and algorithm of P2P can ensure that it is impossible to artificially manipulate the value of bitcoin through mass proction. The design based on cryptography can make bitcoin only be transferred or paid by the real owner. This also ensures the anonymity of money ownership and circulation transactions. The biggest difference between bitcoin and other virtual currencies is that the total amount of bitcoin is very limited and it has a strong scarcity. The monetary system used to have no more than 10.5 million in four years, after which the total number will be permanently limited to 21 million
mining machine is a tool for procing and mining bitcoin
Bitcoin mining machine is a kind of computer used to earn bitcoin. This kind of computer generally has professional mining chips and works in the way of burning graphics card, which consumes a lot of power. It is one of the ways to get bitcoin that users download software from personal computer and then run specific algorithm to get corresponding bitcoin after communicating with remote server
mining is actually a competition of performance and equipment, and a competition of computing power among miners. Miners with more computing power are more likely to dig bitcoin. With the increase of computing power in the whole network, it is more and more difficult to dig bits with traditional devices (CPU, GPU). People have developed chips specially used for mining. Chip is the core part of mining machine. The process of chip operation will proce a lot of heat, in order to cool down, bitcoin miner is generally equipped with heat sink and fan
bitcoin is a kind of virtual currency. Bitcoin mining system is the process of carrying out mathematical operation for bitcoin network through computer hardware. Miners who provide services can get a reward, because the network reward is calculated according to the tasks completed by miners, so the competition for mining is very fierce
bitcoin mining started with low-cost hardware such as CPU or GPU, but with the popularity of bitcoin, the mining process has changed greatly. Nowadays, the mining activities are transferred to the field programmable gate array, and the hash speed can be achieved through optimization. The mining efficiency of this mode is very high
1) wallet. It's used to store your bitcoin balance. In principle, as long as you have the private key of your own bitcoin address, you can use your own bitcoin
2) verify the transaction or payment. After receiving the transaction, the bitcoin node will use certain algorithms to verify the validity of a transaction. If you only change the balance of bitcoin in your computer, others will not recognize it. Similarly, your wallet will not recognize the transaction changed by others
3) mining. Core wallet can start mining function through a command to join the mining army, while SPV wallet usually can't (SPV is just passing by). However, it is not the node type that hinders home computer mining, but the rapid development of professional mining machines. Compared with ordinary computers, the computing power of ordinary computers is very small. Mining by ordinary computers is like digging your own backyard with a hoe, and then expecting to dig out gold
because of the demand of bitcoin users, bitcoin exchange was born. The exchange provides a place for centralized trading. People put money on the exchange, and the exchange will match and trade together, similar to stocks and securities. Therefore, banning exchanges does not mean banning bitcoin. Bitcoin network cannot be banned. Bitcoin is sent to the exchange's wallet, and all you see is a balance given to you by the exchange. In fact, you no longer have your own bitcoin. Bitcoin network is global. Where there is a network, there will be bitcoin. After the exchange closes, bitcoin will not disappear, but will return to where it should be.