Biyuan chain mining

1. bitcoin is a digital currency based on a specific algorithm. < blockquote >

bitcoin is equivalent to digital gold. As a generally recognized equivalent, gold naturally has monetary properties and has been regarded as a kind of currency since ancient times. Bitcoin was born in 2009 and created by a person named Nakamoto. As the earliest digital currency, it was worthless at the beginning of creation. Until 2017, the highest transaction price of bitcoin exceeded 30000 RMB. The reasons why bitcoin became a valuable digital currency are as follows:

first of all, it is like gold, as a natural mineral, The total amount of bitcoin is limited. Bitcoin can not be over issued according to its own algorithm, so there will be no rapid devaluation of currency e to excessive currency issuance. The number of bitcoin is controlled to no more than 21 million e to the algorithm, so it can not be issued in large quantities, so its value is guaranteed

2.

In 2009, bencong invented bitcoin, and set that there are only 21 million bitcoins. By participating in the proction of blocks and providing proof of work (POW), he can get the reward of bitcoin network. This process is mining

the concept of "mining" comes from the existing concepts in our real economic life, such as gold mining and silver mining. Because minerals are valuable, it drives people to pay labor to dig

another important point of bitcoin mining is that the miners who participate in mining recognize the value of bitcoin, and some of them are willing to spend money in the bitcoin market. Therefore, the mining of bitcoin is meaningful

extended data

currency characteristics of bitcoin

1, decentralized

bitcoin is the first distributed virtual currency, and the whole network is composed of users without central bank. Decentralization is the guarantee of bitcoin's security and freedom

2, bitcoin can be managed on any computer connected to the Internet. No matter where you are, anyone can dig, buy, sell or collect bitcoin

3, exclusive ownership

controlling bitcoin requires a private key, which can be stored in any storage medium in isolation. No one can get it except the user himself

4, low transaction cost

bitcoin can be remitted free of charge, but in the end, about 1 bitfen transaction fee will be charged for each transaction to ensure faster transaction execution

5, no hidden cost

as a means of payment from a to B, bitcoin has no cumbersome limit of quota and proceres. If you know the other party's bitcoin address, you can pay

6, cross platform mining

users can explore the computing power of different hardware on many platforms

3. Now there are two kinds of miners. One is to directly choose the mining machine with high income. For example, the income of the A9 is very considerable. It can earn about 620 watts a day, and the power consumption is not high. In this way, if the miner wants to start, it should be done as soon as possible. Only in the previous period can it achieve low cost and high benefit. There will be no such situation when the later period is stable. 2、 The miner doesn't have to pay attention to the current currency income. He only cares about the currency, waiting for him to turn over.

4.

Bitcoin is actually a virtual currency. When bitcoin first appeared, if you want to get bitcoin, you have to get bitcoin through mining. Therefore, bitcoin mining appeared. But bitcoin mining is more and more difficult, so it is very difficult to get bitcoin now

so now many people use Haru miner digs Ethereum, Monroe and other virtual coins. Most importantly, BTC can be directly equivalent in the end

5. It's faster than the original chain. A set of molding system should be developed for at least 2 years and tested for 1 year. If there is a mistake in the middle, it should be redeveloped for another two years
judge for yourself.

6. It's good if you can pay dividends than the original currency. You are equivalent to the traditional intermediary providing asset trading and shareholders of the stock exchange, and the dividend income will arrive immediately after the transaction; It is equivalent to your right to share the dividends of the income assets such as B & B, movies, etc; At the same time, compared with the original currency, it can be used as a deposit for asset issuance. It can be predicted that the more asset categories issued on the original chain, the stronger the demand for tokens will be, and the value of tokens will appreciate.

7. No, one of the three domestic public chains

8. What algorithm