The meaning of pow mining

Publish: 2021-03-29 08:34:49

POW: full name of proof of work

pos: proof of stake

both of them are the consensus mechanism of blockchain and the bookkeeping method of digital currency

the difference is:

1. POW mechanism: workload proof mechanism, that is, the proof of workload, is the requirement that must be met when generating a new transaction information (that is, a new block) to be added to the blockchain. In the blockchain network based on workload proof mechanism, the ability of nodes to obtain the correct numerical solution to generate blocks by calculating the numerical solution of random hash hash is the specific performance of node computing power

POS mechanism: the proof of rights and interests requires the certifier to provide a certain amount of ownership of cryptocurrency. The operation mode of the proof of rights and interests mechanism is that when creating a new block, the miners need to create a "currency right" transaction, and the transaction will send some coins to the miners themselves according to the preset proportion. According to the proportion and time of token owned by each node, the equity proof mechanism reces the mining difficulty of nodes proportionally according to the algorithm, so as to speed up the speed of searching for random numbers

extended materials:

the concept of bitcoin was first proposed by Nakamoto in 2009. According to Nakamoto's ideas, the open source software and the P2P network on it were designed and released. Bitcoin is a kind of P2P digital currency. Point to point transmission means a decentralized payment system

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 the distributed database composed of many nodes in the whole P2P network to confirm and record all transactions, and uses the design of cryptography 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

2. 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
response time: January 4, 2021. Please refer to the official website of Ping An Bank for the latest business changes
[Ping An Bank I know] want to know more? Come and see "Ping An Bank I know" ~
https://b.pingan.com.cn/paim/iknow/index.html

3. Let me tell you this: POW has almost all the advantages and POCS have none of the disadvantages. Bitcoin's pow consensus mechanism has obvious shortcomings: energy waste, noise, mining centralization. The cost of bitcoin mining is getting higher and higher, and the computing power is concentrated in several large mines, so it is difficult for ordinary users to participate; HDFS adopts POC mechanism for hard disk mining, so that everyone can mine.

4. Due to the emergence of professional mining machines, it is basically impossible to use computers to dig bitcoin, and it is almost the same to dig some counterfeit coins. However, the emergence of LTC miner of Leyte coin has actually announced that it is impossible to prevent miner of all POW algorithm currencies. As long as a certain kind of currency is popularized, its miner will appear accordingly. It is suggested that you can take a look at diandianbi (the originator of POS algorithm), the algorithm that can really prevent mining machine.

5. I have heard a friend who has been mining for three or four years mention that the team members of Bateman information technology company are specialized in the research, development, manufacturing and sales of virtual currency mining equipment. It is said that they initially made traditional POW mining machines, and then graally turned to hard disk mining machines with the development of the instry. They have rich technology and experience, and the procts launched today are also very good.

6. Probability problem, but I suggest you don't pay first, see clearly. In addition, more observation of that friend's life and your relationship, true or false in such a little information is impossible to judge

Biter trading platform official system event: biter announced on its official Sina Weibo that their NXT central account was hacked and hackers stole 50 million NXT coins

8. First of all, you can register a company in Hong Kong of any nationality. Secondly, most of them are not registered in Hong Kong. For example, the famous Biyuan chain, quantum chain, Ethereum and fire coin network are not registered in Hong Kong, most of them are in Singapore. It's also registered in Switzerland
it's very easy to register a Hong Kong company. You only need to provide your ID card and company name. The registration time is 10 to 15 working days. It's very fast.

9. Science and technology change life, but also to promote the driving force of economic development. In recent years, the wave of mobile Internet and big data technology is higher than one wave, rapidly leading the development trend of the new era. In 2017, when new things and new technologies continue to emerge, the emergence of blockchain undoubtedly set off a new revolution in digital economy. Chongqing jinwowo network technology group, in line with the current national policy of the development of big data instry, deeply explores the research and development of blockchain technology, explores the application of blockchain technology, and is committed to developing into a well-known brand in the field of blockchain in China, leading the new ideas of blockchain development.

Hot content

Inn digger Publish: 2021-05-29 20:04:36 Views: 341

Purchase of virtual currency in trust contract dispute Publish: 2021-05-29 20:04:33 Views: 942

Blockchain trust machine Publish: 2021-05-29 20:04:26 Views: 720

Brief introduction of ant mine Publish: 2021-05-29 20:04:25 Views: 848

Will digital currency open in November Publish: 2021-05-29 19:56:16 Views: 861

Global digital currency asset exchange Publish: 2021-05-29 19:54:29 Views: 603

Mining chip machine S11 Publish: 2021-05-29 19:54:26 Views: 945

Ethereum algorithm Sha3 Publish: 2021-05-29 19:52:40 Views: 643

Talking about blockchain is not reliable Publish: 2021-05-29 19:52:26 Views: 754

Mining machine node query Publish: 2021-05-29 19:36:37 Views: 750

The meaning of pow mining

Related to The meaning of pow mining