Bitcoin network incentive
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
warm tips: according to the notice and announcement issued by the people's Bank of China and other departments, virtual currency is not issued by the monetary authority, does not have legal compensation and mandatory monetary attributes, is not a real currency, does not have the same legal status as currency, and cannot and should not be used as currency in the market, Citizens' investment and transaction of virtual currency are not protected by law
the above explanation is for reference only. Before investing, it is recommended that you first understand the risks existing in the project, and clearly understand the investors, investment institutions, chain activity and other information of the project, rather than blindly investing or mistakenly entering the capital market
investors should not use such information to replace their independent judgment or make decisions only based on such information, which does not constitute any investment operation
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1) new transactions broadcast to the whole network
2) each node brings the received transaction information into a block
3) each node tries to find a workload proof with enough difficulty in its own block
4) when a node finds a workload proof, it broadcasts to the whole network
5) if and only if all the transactions contained in the block are valid and have not existed before, other nodes agree with the validity of the block
6) other nodes indicate that they accept the block, and the method of indicating acceptance is to follow the end of the block, create a new block to extend the chain, and regard the random hash value of the accepted block as the random hash value that is faster than the new block
hope to help you.
the P2P network structure adopted by bitcoin is not just the choice of topology. Bitcoin is designed as a point-to-point digital cash system, and its network architecture is the reflection and cornerstone of this core feature. Decentralized control is the core principle of design, which can only be achieved by maintaining a flat and decentralized P2P consensus network
each node in bitcoin P2P network is peer-to-peer, but according to the different functions provided, the division of labor of each node is not the same. Each bitcoin node is a functional set of routing, blockchain database, mining and wallet services. A bitcoin network node includes four functions: wallet, miner, complete blockchain and network routing node
some nodes keep a complete and up-to-date of the blockchain, which is called "all nodes". The whole node can independently verify all transactions without any external reference. In addition, some nodes only retain part of the blockchain, and they complete transaction verification through a method called "simple payment verification (SPV)". Such a node is called "SPV node", also known as "lightweight node"
mining nodes create new blocks in a competitive way through proof of work (POW) algorithm running on special hardware devices. Some mining nodes are also full nodes, keeping a complete of the blockchain; There are also some nodes involved in the mining of the mine pool, which are lightweight nodes, and they must rely on the whole node maintained by the mine pool server to work
User wallets can also be used as part of the whole node, which is common in desktop bitcoin clients. At present, more and more users' wallets are SPV nodes, especially bitcoin wallets running on resource constrained devices such as smart phones, which is becoming more and more common.
on the evening of October 23, Beijing time, the 150th anniversary edition of Nature magazine published a paper claiming that Google has successfully achieved "quantum hegemony" this event named "Hello world" in the quantum field immediately occupied the front page of the mainstream media, and the description of "quantum computing in 200 seconds = 10000 years of the most powerful supercomputer on earth" in the paper has become a hot topic of the whole Internet
at present, many cryptography and quantum cryptography experts are advocating the establishment of financial security system as soon as possible, except that the encryption currency projects such as TaiFang and quantum chain focus on quantum resistance. According to William tooton, a reporter from Bloomberg technology, on twitter last month, the National Security Bureau has been committed to the research of related technologies. Therefore, unless the threat of quantum computing suddenly erupts, bitcoin still has time to deal with its arrival“ Bitcoin is alive, consensus is there, currency is there, if not upgraded, it will not disappear because of algorithms or vulnerabilities. But the problem of quantum resistance has not been solved. With the continuous development of quantum computers and the arrival of more qubit chips, this will still be the sword of Damocles hanging on the head of cryptocurrency. "< br />