Mining mechanism 6

1. When it comes to money, mining is indispensable. In ethereum network, if you want to get Ethereum, you also need to mine it. When it comes to mining, there must be a consensus mechanism
do you remember what the consensus mechanism of bitcoin is? The consensus mechanism of bitcoin is pow. To put it simply, the more work you do, the higher the amount of computation you pay, the more likely you will be the first to find the correct hash value, and the more likely you will be rewarded with bitcoin
however, there are some defects in the pow of bitcoin, that is, it is too slow to process transactions, and miners need to constantly collide hash values through calculation, which is costly and inefficient. Friends who are interested in blockchain knowledge should see such a saying:
in order to make up for the deficiency of bitcoin, Ethereum has proposed a new consensus mechanism, called POS (this is the abbreviation of English, which means "proof of equity", also translated into "proof of equity")
POS simply means the same as its literal meaning: equity, equity. The more currency you hold, the more equity you have, the higher your equity
Ethereum's POS means that the more money you hold, the longer you hold it, the less difficult it will be to calculate and the easier it will be to mine
in the initial setting of Ethereum, Ethereum hopes to build a relatively stable system by using POW in the early stage, then graally adopt POW + POS, and finally completely transition to POS. So, it's true that the consensus mechanism of Ethereum is POS, but POS is only a plan or goal at the beginning of Ethereum's release. At present, Ethereum has not yet transitioned to POS, and the consensus mechanism adopted by Ethereum is still pow, that is, the pow of bitcoin, but it is slightly different from the pow of bitcoin
the amount of information here is a bit large,
the first information point is that the consensus mechanism currently adopted by Ethereum is also pow, but it is slightly different from the pow of bitcoin. So, what's the difference between the pow of Ethereum and bitcoin: in short, the mining difficulty of Ethereum can be adjusted, but the mining difficulty of bitcoin can't be adjusted. Just like our college entrance examination, because the teaching situation and the number of students in different provinces are not the same, so the college entrance examination is divided into national papers and provincial independent proposition
Ethereum said that I am in favor of the topic by region. Bitcoin said: No, it must be the same volume in the whole country. The difficulty is the same for everyone
the popular explanation is that bitcoin uses computer computing power to do a lot of hash collisions, enumerate various possibilities to find a correct hash value. The Ethereum system has a special formula to calculate the difficulty of each block. If a block is verified faster than the previous block, Ethereum protocol will increase the difficulty of the block. By adjusting the block difficulty, the time needed to verify the block can be adjusted
according to the Ethereum protocol, the dynamic adjustment method of difficulty is to make the time interval of creating new blocks in the whole network 15 seconds, and the network uses 15 seconds to create blockchain. In this way, because the time is too fast, the synchronization of the system is greatly improved, and it is difficult for malicious participants to launch 51% (that is, more than half) of the computing power to modify historical data in such a short time
the second information point is: in the initial setting of Ethereum, we hope to achieve the transition from POW to
POS through phased upgrade
dating back to 2014, at the beginning of Ethereum's launch, the team announced that the launch of the project would be divided into four stages, namely, Froniter, homestead, metropolis and serenity. In the first three stages, the consensus mechanism adopts pow (workload proof mechanism), and in the fourth stage, it switches to POS (equity proof mechanism)
on July 30, 2015, the first phase "frontier" of Ethereum was officially released. This phase is only suitable for developers. Developers can write smart contracts and decentralized application DAPP on Ethereum network, and miners begin to enter Ethereum network to maintain network security and get Ethereum coins. The leading-edge version is similar to the beta version, proving whether the Ethereum network is reliable or not
on March 14, 2016, Ethereum entered the second stage of "homeland". In this stage, Ethereum provides the wallet function, so that ordinary users can easily experience and use Ethereum. There is no obvious technology improvement in other aspects, but it shows that Ethereum network can run smoothly
in September 2017, Ethereum has reached the third stage of "metropolis"“ "Metropolis" is composed of Byzantine and Constantinople. The goal of this stage is to introce the hybrid chain mode of POW and POS, so as to prepare for the smooth transition from POW to POS. This is the latest popular "Ethereum Constantinople upgrade". In the Constantinople upgrade, Ethereum will make some changes to the underlying protocols and algorithms to lay a good foundation for the implementation of POW and
POS
how much reward will Ethereum get for mining? Miners who win the block creation competition will get the following income:
1. Static reward, 5 ethereums
2. The fuel cost in the block, i.e. gas, we talked about in the last issue
3. As a part of the block, it includes the extra reward of "Uncle block". Uncle is uncle of uncle, and each uncle block can get 1 / 32 of the mining reward as a reward, that is, 5 times 1 / 32, which is equal to 0.15625 ethereums. Here, let's briefly explain the concept of "TERT block". The concept of "TERT block" was proposed by Ethereum. Why should we introce the concept of TERT block? This also starts with bitcoin. In the bitcoin protocol, the longest chain is considered absolutely correct. If a block is not part of the longest chain, it is called a "orphan block". An isolated block is a block, which is also legal, but it may be found later, or the network transmission is slower, and it does not become part of the longest chain. In bitcoin, the solitude is meaningless and will be discarded later, and the miners who find the solitude will not receive mining related rewards
however, Ethereum does not think that isolated blocks are worthless, and Ethereum system will give rewards to miners who find isolated blocks. In Ethereum, isolated blocks are called "Uncle blocks", which can contribute to the security of the main chain. Ethereum's ten second block interval is too fast, which will rece the security. By encouraging the use of tertiary blocks, the main chain can obtain more security guarantees (because the isolated block itself is legal). Moreover, paying the tertiary block can also stimulate the miners to actively mine and actively use tertiary blocks. Therefore, Ethereum thinks that it is valuable.

2.

FT is not a coin. Ft (fcoin token) is a token issued by fcoin trading platform, which is the representative of all rights and interests of the trading platform. The issuance of FT is based on the principle of "transaction is mining" (see the mining principle) and graally released (see the description of circulation), with the upper limit of 10 billion and never increasing

as the representative of platform equity, the platform will distribute 80% of the income to FT holders (check the details of income distribution). At the same time, FT holders have the right to participate in major decision-making and community management

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value of fun coin global common points (FT currency):

1. Transaction mining reward: from 0:00 (UTC + 9) every day, 110% of the transaction fees generated by users will be converted into ft for accumulation, and the conversion price will be calculated according to the average price of FT in that hour (the average price calculation method is total transaction amount / total volume)

2. Bonus reward: 50% of the platform's handling fee income will be distributed to FT holding members as dividends

3. Buy back plan: 20% of the platform's handling charge goes into the buy back fund. When the price of FT fluctuates greatly; All users can enter a public address without private key, and this address can only enter but not exit. All users can effectively supervise through the block browser. The repo program continues until 50% (1.5 billion) ft of the total repo amount

4. Asset injection plan: 20% of the service charge of funcoin platform will be injected into ft assets. The purpose of the fund includes, but is not limited to, dividends for FT users again at a specific time, airdrop rewards, setting up special user reward mechanism, etc

3.

The bitcoin mining machine downloads the mining software and then runs a specific algorithm to get the corresponding bitcoin after communicating with the remote server, so as to obtain the bitcoin

any computer can become a mining machine, but the benefit will be relatively low, and it may not be able to dig a bitcoin in ten years. Many companies have developed professional bitcoin mining machines, which are equipped with special mining chips, and their computing speed is tens or hundreds of times higher than that of ordinary computers

bitcoin miners can neither increase their rewards by cheating, nor deal with the fraulent transactions that destroy the bitcoin network, because all bitcoin nodes will reject the blocks containing invalid data that violate the bitcoin protocol rules. Therefore, even if not all bitcoin miners can be trusted, the bitcoin network is still secure

extended data:

mining is a process of consuming computing resources to process transactions, ensuring network security and keeping everyone's information synchronized in the network. It can be understood as the data center of bitcoin. The difference lies in its completely decentralized design. Miners operate all over the world, and no one can control the network

this process is called "mining" because it is similar to gold panning, because it is also a temporary mechanism for issuing new bitcoin. However, unlike gold panning, bitcoin mining provides rewards for services that ensure the safe operation of payment networks. After the last bitcoin, mining is still necessary

anyone can run software on specialized hardware and become a bitcoin miner. Mining software monitors transaction broadcast through P2P network and performs appropriate tasks to process and confirm these transactions. Bitcoin miners can earn transaction fees paid by users to speed up transaction processing and additional bitcoin issued according to fixed formula

5. Bitcoin uses a graphics card to do an arithmetic, just like we do math problems. It has a rule of that algorithm, and then it uses a graphics card to do the arithmetic. His algorithm will be geometric superposition. So it's hard to find this bitcoin now. There is one of them. Well, you download the roaming browser. He has one called symbiotic coin. That is to say, when you usually surf the Internet, use this browser. You'll generate some virtual coins. Then it can be changed into RMB. I'm not quite clear about his ratio.

6. Hello, you can log in to the 360 security payment center and recharge 360 coins inside.

7.

Tesla may support bitcoin payment, which means that there is a "man in the middle entity" processing system between consumers and terminal merchants . Consumers transfer bitcoin from their "digital wallet" to this entity, which converts it into US dollars and gives it to merchants

for example, including at & amp; Companies including T and Microsoft have accepted bitcoin payments through the cryptocurrency payment processor bitpay. Bitpay has begun to accept payments from some luxury car dealers, but has yet to work with Tesla

the transaction settlement of "man in the middle" processing system is to avoid the impact of bitcoin price volatility on businesses. Payment giant PayPal is expected to allow cryptocurrency transactions on its network by the middle of 2021, but still chooses to settle transactions through the intermediary Paxos trust company

companies like Paxos trust company issue so-called "stable currency" linked to US dollars to customers, which means that businesses and paypal do not have to hold bitcoin directly

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Tesla's innovation has two sides.

experts believe that Tesla's innovation may be that it will cancel the "middleman" in the future and create its own currency processing system, which can be used to accept bitcoin payments and carry out liquidation when necessary. In other words, consumers can directly transfer bitcoin to Tesla's system, and Tesla can choose to hold bitcoin or choose to liquidate

but it also means that Tesla needs to set guaranteed exchange rates for its customers in a very short period of time. "Tesla is likely to continue to price electric vehicles in dollars, and if consumers choose to pay for bitcoin, the price could last for five minutes," said Denny masters, chairman of coinshares

an investor who has been optimistic about Tesla for a long time told China Business News: "from the perspective of currency over issuance, musk has his own views, and Tesla's investment in bitcoin is worthy of attention."

8. It should be said that there is no direct relationship between the two sets of system platforms. But now we need to put some public affairs into SMIC to improve the efficiency of the government and ensure the accuracy and security of information and data.

9. In fact, the principle of digging gold coins is to use your network to contribute network speed. For example, when someone searches for the next video in the computer, you will upload the video file to him to save the official bandwidth and give you a certain reward. However, if your upload speed is slow, it will not contribute much network speed, so you can't make money

10. Yes, it's a mobile mining platform based on Ethereum network. It's a strategic proct launched by referring to the experience of predecessors, as well as token incentive.