Is BTC a POW or a PoC

1.

bitcoin mining is a process that uses computer hardware to calculate the location of bitcoin and obtain it

mining is an incentive process to record data in the bitcoin system. In the bitcoin system, indivial users have the right to pack blocks after calculating a specific hash value by using CPU or GPU to hash

and in order to reward this user for packing blocks, the system will give a certain amount of bitcoin as reward. Because this process is very similar to "mining" in real life, most people call this process mining. In addition to bitcoin, other electronic virtual currencies can also be obtained through mining rewards, such as Ethereum, Monroe and so on

extended data:

mining risk:

1, currency security

the withdrawal of bitcoin requires hundreds of keys, and most people will record this long string of numbers on the computer, but frequent problems such as hard disk damage will make the key permanently lost, which also leads to the loss of bitcoin

2, system risk

system risk is very common in bitcoin, and the most common one is bifurcation. Bifurcation will lead to a drop in currency price and a sharp drop in mining income. However, many cases show that the forking will benefit the miners, and the forked competitive currency also needs the miners' computing power to complete the minting and trading process. In order to win more miners, the competitive currency will provide more block rewards and handling charges to attract miners. Risk makes miners

2. At present, the most popular way of bitcoin trading is contract trading. According to the rise and fall of the price, it is far better to obtain income than the traditional mining and direct trading. After all, there is no need to really hold virtual currency, just need to judge whether the price is up or down, which is very suitable for the existing investors, simple and convenient

3.

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

4. The concept of bitcoin was first proposed by Nakamoto on November 1, 2008, and was officially born on January 3, 2009. According to the idea of Nakamoto, the open source software is designed and released, and the P2P network on it is constructed. Bitcoin is a virtual encrypted digital currency in the form of P2P. Point to point transmission means a decentralized payment system
unlike all currencies, bitcoin does not rely on a specific currency institution to issue. It is generated by a large number of calculations based on a specific algorithm. 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

warm tips:
1. The above information is for reference only, without any suggestions
2. According to the notice on preventing the financing risk of token issuance, there is no approved digital currency trading platform in China. According to the regulation of digital currency in China, investors have the freedom to participate in digital currency transactions at their own risk
response time: February 2, 2021. Please refer to the official website of Ping An Bank for the latest business changes
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5.

Mining means that users download software from personal computers and then run specific algorithms to get corresponding bitcoin after communicating with remote servers

bitcoin is a kind of network virtual currency. Internet users can use bitcoin to buy some virtual goods, such as clothes, hats and equipment in online games. Internet users can also use bitcoin to buy real goods

bitcoin mining system is the process of carrying out mathematical operation for bitcoin network through computer hardware, and the miners who provide services can get a reward, because the network reward is calculated according to the tasks completed by the 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

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extended materials:

the founder of bitcoin:

on November 1, 2008, a person who called himself Satoshi Nakamoto posted a research statement on a secret cryptography review group, stating his new idea of e-money - bitcoin came out and the first transaction of bitcoin was completed

bitcoin has got rid of the constraints of third-party organizations with the help of Internet, which Nakamoto calls "regional chain". Users are willing to dedicate the computing power of CPU and run a special software to be a "digger", which will form a network to maintain the "regional chain". In the process, they also generate new money

trading is also extended on this network. The computer running this software can solve the problem of irreversible code, which contains several trading data

the first "miner" to deal with the problem will be rewarded with 50 bitcoin, and the relevant trading area will join the chain. As the number of "miners" increases, the difficulty of each puzzle also increases, which keeps the proctivity of bitcoin in each trading area at about 10 minutes

in 2009, Nakamoto designed a digital currency, namely bitcoin. The booming bitcoin market has gone up and down, and the identity of its founder "Nakamoto" has always been a mystery. Rumors about "the father of bitcoin" involve from the US National Security Agency to financial experts, and also give bitcoin a mysterious aura

6. As a result of a large number of mining machinery listed on the market, the difficulty is soaring, and soon there will be not so many BTCs. However, the overall BTC and LTC are relatively balanced.

7. 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.

8. We know the process of information computing hash packing: transaction record, time, account number, last hash value. We also know that all calculation and storage need to consume computer resources. In Nakamoto's design, the completion of bookkeeping can be rewarded with bitcoin by the system, which is also the process of issuing bitcoin. Therefore, bookkeeping becomes mining
bookkeeping
because bookkeeping is a reward, each time you can add a certain number of bitcoin for yourself, so everyone is competing for bookkeeping, which of course leads to a problem: when there is inconsistency in bookkeeping, the system introces workload proof to solve the problem, and the rules are as follows:
1. In a period of time, only one person can succeed in bookkeeping
2. Obtain the unique bookkeeping right by solving the cryptography problem
3. Other nodes the bookkeeping results
but before the workload proof, The accounting node will do the following preparatory work:
1. Collect the original transaction information that has not been recorded in the broadcast
2. Check whether the payment address in each transaction information has enough balance
3. Verify whether the transaction has the correct signature
4. Package and record the verified transaction information
5. Add a reward transaction: add 12.5 to your address Bitcoin
if you succeed in competing for bookkeeping rights, you can get a reward of 12.5 bitcoin
workload proof
the hash value of the previous block and the current account page information will be hashed together as the original information in each bookkeeping. In order to ensure that only one person can keep accounts around 10 minutes, we have to improve the difficulty of keeping accounts. The results of hash must start with several zeros. In order to satisfy the condition, hash is to introce a random number variable
denoted by pseudo code:
1. Hash (last hash value, transaction record set) = 456635bcd
2. Hash (last hash value, transaction record set, random number) = 0000afd635bcd
if you change part of the original information of hash, the hash value will also change continuously. Therefore, when you run hash, the value of random number will change continuously, A random number can always be found so that the result of hash starts with several zeros. The node that finds the random number first obtains the unique bookkeeping right
verification
after the node successfully finds the hash value, it will broadcast and package the block to the whole network immediately, and the node of the network will verify it after receiving the broadcast. If the verification is passed, it indicates that a node has successfully decrypted, it will not compete for the current block, but will choose to accept the block and record it in its own account book for the next round of competitive guessing. Only the fastest decrypted block in the network will be added to the ledger, and other nodes will to ensure the uniqueness of the whole ledger
If a node has cheating behavior, it will cause the node of the network to fail the verification, give up its packaged block directly, and cannot be recorded in the general ledger, then the consumption cost of the cheating node will be in vain. Therefore, miners consciously abide by the consensus protocol of bitcoin system, and ensure the security of the whole system
it's like you go to the construction site to move bricks. After moving bricks for one day, the contractor asks you how can you prove that you move bricks for one day?

9. 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.

10. Players can enter San Francisco to mine through Chang'an mine transmission point (coordinates 181,99)
San Francisco will refresh 8 ore spots at 10:00-20:00 every day to polish the ore, and you will get all kinds of dazzling gems
1. The grade of the mine (including primary, intermediate and advanced)
2. Acquisition time: the time required when the acquisition progress bar reaches 100%
3. Output quantity: the quantity of ore that can be obtained when the collection progress bar reaches 100%
4. Grade requirement: collect the grade limit of the mine
5. Click the "mining" button, and the mining will start automatically. The mining progress bar will appear in the upper right corner of the interface:
once the progress bar reaches 100%, you will get a ore, and then the progress bar will continue to accumulate from 0% until the player stops mining, the activity ends or the backpack is full. The whole mining process is automatic
ore occurrence level
ore occurrences are divided into three levels: primary, intermediate and primary, The ore proced is also different:
ore grade
ore proced
ore collection grade
requirements
primary ore
primary ore
above grade 10
intermediate ore
above grade 20
advanced ore
above grade 30
intermediate and advanced ore are rare, The intermediate ore and high-grade ore proced by them can also be polished into more precious rewards. Once discovered, they will decisively mine
ore grinding
after mining a batch of ore, it's time to grind and get the final reward
open the backpack, find the ore obtained from mining, click and select "grinding":
at this time, we will open the grinding interface:
grinding can be executed in batch. Each time you click the ore in the backpack, the ore will automatically enter the grinding interface. After the ore is put in, click the "grinding" button and consume a certain game currency, and the ore will be polished into various gems
ore income
after grinding, the ore can obtain all kinds of gems, everyone has a share, never fail!