What is mining calculation

1. At present, only a few algorithms of virtual currency are meaningful, such as XPM (prime currency, used to solve prime numbers), GRC (Greider currency, used for scientific operation), etc. I have been using CPU to dig XPM, although my income is limited. In fact, these currencies also have the excellent properties of bitcoin, but they are not favored by most virtual currency lovers. The price is very low, which is really distressing.

2. From the user's point of view, bitcoin is a mobile application or computer program, which can provide a personal bitcoin wallet with which users can pay and receive bitcoin. This is how bitcoin works for most users

behind the scenes, the entire bitcoin network shares a public ledger called "blockchain.". This general ledger contains every transaction processed, so that the user's computer can verify the validity of each transaction. The authenticity of each transaction is protected by the electronic signature corresponding to the sending address, which enables users to have complete control over the bitcoin transferred out from their own bitcoin address. In addition, anyone can use the computing power of specialized hardware to process transactions and get a bitcoin reward for it. This service is often referred to as "mining."

bitcoin mining has gone through three stages of development. When bitcoin was just born, the price of bitcoin was very low. People just took bitcoin as a game and used their ordinary computers to mine. However, in 2012, with the rise of bitcoin price, people found that the mining speed of graphics cards was fast, so, People began to buy a large number of graphics cards and assemble them for mining, commonly known as "burning graphics cards"; The third stage is the well-known ASIC miner mining. Since Avalon proced the world's first ASIC bitcoin miner, bitcoin mining has been completely subverted, and mining has become a special professional thing.

4. In order to know what mining is calculating, we must first know the essence of bitcoin and its proction process. Bitcoin is a network-based electronic currency, which is actually a string of codes of the Internet, calculated by algorithms. Mining is the process of completing the algorithm and the only way to proce bitcoin. And because of the algorithm, there are only 21 million bitcoins
1. Mining can not only proce bitcoin, but also guarantee transaction information
similarly, a mathematical system contains 21 million mathematical problems, so we need to constantly seek the special solution of each mathematical problem through a huge amount of calculation. In addition, the special solution is unique
mining can not only increase the supply of bitcoin money, but also protect the security of bitcoin transactions and prevent fraulent transactions. In terms of process, bitcoin network is a point-to-point payment system, and anyone can trade through the transaction program
in order to ensure that the transaction process is truthfully recorded, the role of "miner" is required to be responsible for recording bitcoin transaction information. The time interval is 10 minutes. The best recorded transaction records among miners will be packaged and stored in a new block, and the corresponding miners will also receive a certain amount of bitcoin rewards
2. The mining process is extremely complex, which is beyond human power
the specific process is as follows. When a miner listens to the transaction, he will first verify the transaction information. The verified transactions will be recorded by miners and stored in their own database. There may be thousands of miners in the world doing the same thing, but every ten minutes, only one miner has the right to create a new block, so that the transaction information recorded by himself can be recognized and stored permanently
next, miners need to fight for the right to keep accounts. This is a competition of computing power. The core of this competition is to use computers to complete a large number of calculation tasks and find a super difficult random number. This random number is the special solution of the equation mentioned in the first paragraph. The miner who calculates the correct random number first wins. According to the rules of the game, the probability of a miner getting the accounting right is directly proportional to the proportion of his computing power in the total computing power of the whole network. In other words, the probability of finding the random number is equivalent to throwing out 100 million dice, and the total number of dice is less than 150 million. Therefore, mining requires a large number of computers, installation of specific algorithm software, repeated operation day and night, not human
3. Bitcoin mining is actually "villagers' bookkeeping"
maybe some netizens still don't understand, let's take an example. In a village, the villagers often borrow money from each other, even if they write a written document, there is a risk of default. Then, every time there is a loan behavior in the village, we will use the village trumpet to inform everyone that all the villagers (miners) will record all the transaction records in their own account books.

5.

Bitcoin mining is a process of using computer hardware to calculate transaction confirmation and improve security. Bitcoin is a reward for miners to calculate and confirm

bitcoin also has a hype mode. Similar to bitcoin, there are also flow ores. Flow ores also have ways of trading and speculation, but the mining principle of flow ores is different from bitcoin. Flow ores mainly collect the idle bandwidth of miners and give them rewards

in fact, the blockchain technology adopted by bitcoin is more valuable than itself. This is a new way of information storage. The data is stored in all devices connected to the network. When new devices join, the information will be updated automatically, and all devices have the right to read the information

to understand the significance of bitcoin from the perspective of currency, we need to understand the currency itself first, and then compare it with the characteristics of bitcoin. After comparison, I think that bitcoin is a very high-quality currency, but some people don't think it is. They mainly question the formation mechanism of bitcoin and the lack of national credit as guarantee. They think its foundation is relatively weak

at present, there are quite a lot of arguments about bitcoin in academic circles. For example, if the total amount of bitcoin is certain, then whether it will cause deflation or inflation has different views. I think it's deflation, and the value of bitcoin will be higher and higher

at present, bitcoin still means a little bit of a safe haven currency. When the news of brexit came out, the transaction price of bitcoin rose by 20% - 30% to about 4500 yuan / piece

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

the concept of bitcoin was first proposed by Nakamoto in 2009. Bitcoin, also known as bitcoin, is an open source software designed and released according to the idea of Nakamoto Tsung, and a P2P network built on it. Unlike most currencies, bitcoin does not rely on a specific central issuing institution. It uses distributed databases throughout the P2P network nodes to record currency transactions, and uses cryptography design to ensure the security of all aspects of currency circulation