What is the practical significance of mining
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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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
Mining is a process of increasing the bitcoin money supply. Mining also protects the security of the bitcoin system, prevents fraulent transactions, and avoids "double payment", which means spending the same bitcoin multiple times. Miners offer algorithms for bitcoin networks in exchange for the opportunity to get bitcoin rewards. The miners verify each new transaction and record it in the general ledger
in the past, ordinary computers could be used to mine, but now it is basically impossible. Because the operation mechanism of bitcoin is becoming more and more difficult, the performance of ordinary computers at home is limited, and it is difficult to decrypt bitcoin. Now there are new machines on the market, professional coin digging machines, called mining machines
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Mining precautions:
if you want to invest in virtual currency mining, in addition to the need to buy mining machines, you also need a suitable site and a special person to take care of and maintain it. Of course, the appropriate electricity price is also essential. However, the general investors will encounter a series of difficult problems from the beginning of purchasing mining machines
trusteeship, in a simple sense, is to put the purchased mining machines in the professional mines of trusteeship enterprises, and then the trusteeship enterprises provide you with ore pools and special personnel to maintain them. Of course, the electricity prices that these trusteeship enterprises can get are very low, and there is no need to worry about the legitimacy of these enterprises. They must all meet the national standards
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first of all, you need to install player cloud and link pocket on the mobile phone. Play off cloud, a new generation of intelligent hardware of Xunlei. Through play off cloud, users can search massive resources in the whole network and enjoy free super speed download privilege for life. The download speed can reach 4MB / s
unlike all 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 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 and does not constitute any investment suggestions
② there are risks in entering the market, so investment should be cautious
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the computing power provided by mining maintains the operation of bitcoin network
the reward for mining will be obtained through the miner's fee paid by users.