What's the significance of the computing power generated by m
computing power refers to computing power, refers to that in the process of getting bitcoin through "mining", we need to find its corresponding solution M. for any 64 bit hash value, there is no fixed algorithm to find its solution M. we can only rely on computer random hash collisions. How many hash collisions can a mining machine do per second, is the representative of its "computing power". The unit is written as hash / s, which is the so-called proof of work mechanism (POW)
Mining, in fact, is to use graphics card to dig bitcoin. Bitcoin is a kind of P2P digital currency. Point to point transmission means a decentralized payment system
unlike most 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 the distributed database composed of many nodes in the whole P2P network to confirm and record all transactions, and uses the design of cryptography 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. 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
bitcoin can be cashed and converted into the currency of most countries. Users can use bitcoin to buy some virtual items, such as clothes, hats and equipment in online games. As long as someone accepts it, they can also use bitcoin to buy real-life items
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bitcoin is a string of code generated by an open-source P2P software, which we call cryptocurrency, e-currency and so on. Bitcoin is proced by mining. Generally speaking, bitcoin mining is to use your hardware to calculate the mathematical problems of sh265 algorithm, confirm network transactions, and ensure the security of the whole network system. As a reward, bitcoin system will give a certain amount of bitcoin reward according to the amount of computing power contributed by miners
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mining is bitcoin. Bitcoin will be generated several times every other period of time, and whoever grabs it will own it. The computer connected to the bitcoin system is the tool "miner" for grabbing bitcoin. As for the issue of national recognition of bitcoin, simply speaking, it depends on the possible impact on the country< br />
the professional point is that mining is a distributed consensus system that includes the transaction data to be confirmed into the block chain, so as to complete the confirmation of these transactions. By mining, the data in the block chain can be stored in chronological order, the neutrality of bitcoin network can be maintained, and different computers on the bitcoin network are allowed to agree on the system state. To be confirmed, a transaction must be packaged into a block that complies with very strict cryptographic rules and verified through bitcoin network. These rules can prevent the modification of existing blocks, because once there is a change, all blocks will be invalid. Mining is as difficult as winning the lottery. No one can easily and continuously add new blocks to the block chain. Therefore, no one can control what content is included in the block chain or replace part of the content in the block chain to rece their cost
at present, bitcoin mining needs professional ASIC mining machines. For example, Avalon mining machine (commonly known as pumpkin Zhang mining machine), which has created countless number one mining machines in the instry, is said to be coming out soon, 28nm chips will be streamed soon, and 16nm chips are under development.