Bitcoin cash difficulty calculator
Publish: 2021-05-28 02:57:32
1. In order to understand the technical principle of bitcoin, we need to understand two important cryptographic techniques: hash code: it converts a long string into a fixed length string, and its conversion is irreversible, that is, it is impossible to guess the original string from hash code. Sha256 is mainly used in bitcoin protocol
public key system: corresponds to a public key and a private key, keeps the private key in the application and publishes the public key. When Party A transmits information to Party B, it can use Party A's private key to encrypt the information, and Party B can use Party A's public key to decrypt the information, so as to ensure that the third party cannot impersonate Party A to send the information; At the same time, when Party A transmits information to Party B, it is encrypted with Party B's public key and sent to Party B, and then Party B decrypts it with his own private key, so as to ensure that the third party cannot eavesdrop on the communication between the two people. RSA is the most common public key system, but the lliptic curve digital signature algorithm is used in bitcoin protocol. What's the difference between cash and bank account? Bitcoin is an electronic currency in BTC. In this article, it is also used to refer to the whole bitcoin system. Like opening an account in a bank, the corresponding concept in bitcoin is address. Everyone can have one or more bitcoin addresses, which are used to pay and collect money. Each address is a string that starts with 1. For example, I have two bitcoin accounts, and. A bitcoin account is uniquely determined by a pair of public key and private key. To save the account, you only need to save the private key file. Unlike bank accounts, banks keep all transaction records and maintain the book balance of each account, while bitcoin's transaction records are jointly maintained by the whole P2P network through a pre agreed protocol. How much money is in my account address? Although the current account balance can be seen by bitcoin software, unlike banks, there is no place to maintain the book balance of each address. It can only calculate the account balance in real time through all historical transactions. How do I pay? When I pay from address a to address B of the other party, the payment amount is e. at this time, both parties will announce the transaction information to each network node, telling address a to pay to address B, and the payment amount is e. In order to prevent the third party from forging the transaction information, the transaction information will be encrypted with the private key of address A. at this time, the network node receiving the transaction information can use the public key of address a to verify that the transaction information is indeed sent by address a. Of course, trading software will help us do these things, we just need to input the relevant parameters in the software. What will the network node do after receiving the transaction information? This is the most important part of the bitcoin system, which needs to be elaborated. For the sake of simplicity, only bitcoin protocol has been implemented. In the current version, each network node will save all transaction information synchronously. There are two kinds of transaction information in history, one is & quot; Verified & quot; The transaction information, that is, the verified transaction information, is stored in a series of "blocks". Each & quot; block" Is the previous & quot; bock" The ID of each block is the hash code of the hash code of the block and the new transaction information (see an actual block). The other category refers to those who also & quot; Unverified & quot; The transaction information just paid above belongs to this category. When a network node receives new unverified transaction information (possibly more than one), it can calculate the book balance of each address at that time because the node keeps all the transaction information in history, so it can calculate whether the transaction information is valid, that is, whether there is enough balance in the payment account. After eliminating the invalid transaction information, it first takes out the last & quot; block" Then, the unverified transaction information is combined with the ID, and a verification code is added to form a new "block". It needs a lot of calculation to build a new block, because it needs to calculate the verification code, so that the above combination becomes a block, that is, the first several bits of the hash code of the block are 1. At present, the first 13 bits need to be 1 (generally, the specific method is uncertain), which means that if the block is generated by enumeration method, the average number of enumerations is 16 ^ 13. Using CPU resources to generate a block is called "gold mining", because the proction of the block will get a certain reward, and the reward information has been included in the block. When a network node generates a new block, it will broadcast to other network nodes. However, this network block may not be accepted by the network, because it is possible that other network nodes have proced the block earlier. Only the earliest block or the block with the largest number of subsequent blocks is valid, and the remaining blocks are no longer used as the initial blocks of the next block. How does the other party confirm that the payment is successful? When the payment information is distributed to the network node, the network node begins to calculate whether the transaction is valid (that is, whether the account balance is enough to pay), and attempts to generate blocks containing the transaction information. When six blocks (one direct block and five subsequent blocks) contain the transaction information, the transaction information is considered "verified", so that the transaction is formally confirmed, and the other party can confirm the successful payment. A possible problem is that I will pay the balance of address a to address B, and at the same time pay to address C. If I only verify that the single comparison transaction is valid. At this point, my way of cheating is to generate six blocks including B to B and six blocks including C to C before the truth is revealed. Because I need a very long CPU time to generate a block, compared with the whole network, the probability of my cheating success is very small. What is the motivation of network nodes to proce blocks? As can be seen from the above description, in order to make the transaction information effective, the network node needs to generate 1 and 5 subsequent blocks to contain the transaction information, and such block generation is very CPU intensive. How to let other network nodes help to proce blocks as soon as possible? The answer is very simple. The agreement stipulates that BTC will be rewarded for the address where the block is proced, as well as the Commission promised by both parties. At present, the reward for procing a block is 50btc, which will be halved every four years in the future. For example, the reward will be 25btc from 2013 to 2016. Is the transaction anonymous? Yes, and No. All bitcoin transactions are visible. We can check all transaction records of each account, such as mine. But what's different from the banking monetary system is that everyone's account itself is anonymous, and everyone can open many accounts. In general, anonymity is not as good as it claims. But bitcoin has another advantage in doing black market trading: it can't be frozen. Even if the police trace a bitcoin address, there is nothing they can do unless they trace the computer used by the exchange based on the Internet address. How to ensure that bitcoin does not depreciate? Generally speaking, in the case of equivalent trading activities, the value of money is inversely proportional to the amount of money issued. Unlike the traditional money market, the central bank can determine the amount of money issued. Bitcoin does not have a central issuing institution. Only by procing blocks can we get a certain amount of BTC currency. Therefore, bitcoin's new amount of money depends on: 1. The speed of procing blocks: bitcoin's agreement stipulates that the difficulty of procing blocks is fixed at an average of 2016 every two weeks, about 10 minutes. Moore's law of doubling CPU speed every 18 months will not speed up the proction of block. 2. The number of rewards for block proction: at present, 50 BTC is awarded for each block proced, which is halved every four years. In 2013, 25 BTC is awarded, and in 2017, 12.5 BTC is awarded. Considering the above two factors, bitcoin's currency issuing speed is not controlled by any single node in the network. Its protocol makes the currency stock known in advance, and the maximum stock is only 21 million BTC
public key system: corresponds to a public key and a private key, keeps the private key in the application and publishes the public key. When Party A transmits information to Party B, it can use Party A's private key to encrypt the information, and Party B can use Party A's public key to decrypt the information, so as to ensure that the third party cannot impersonate Party A to send the information; At the same time, when Party A transmits information to Party B, it is encrypted with Party B's public key and sent to Party B, and then Party B decrypts it with his own private key, so as to ensure that the third party cannot eavesdrop on the communication between the two people. RSA is the most common public key system, but the lliptic curve digital signature algorithm is used in bitcoin protocol. What's the difference between cash and bank account? Bitcoin is an electronic currency in BTC. In this article, it is also used to refer to the whole bitcoin system. Like opening an account in a bank, the corresponding concept in bitcoin is address. Everyone can have one or more bitcoin addresses, which are used to pay and collect money. Each address is a string that starts with 1. For example, I have two bitcoin accounts, and. A bitcoin account is uniquely determined by a pair of public key and private key. To save the account, you only need to save the private key file. Unlike bank accounts, banks keep all transaction records and maintain the book balance of each account, while bitcoin's transaction records are jointly maintained by the whole P2P network through a pre agreed protocol. How much money is in my account address? Although the current account balance can be seen by bitcoin software, unlike banks, there is no place to maintain the book balance of each address. It can only calculate the account balance in real time through all historical transactions. How do I pay? When I pay from address a to address B of the other party, the payment amount is e. at this time, both parties will announce the transaction information to each network node, telling address a to pay to address B, and the payment amount is e. In order to prevent the third party from forging the transaction information, the transaction information will be encrypted with the private key of address A. at this time, the network node receiving the transaction information can use the public key of address a to verify that the transaction information is indeed sent by address a. Of course, trading software will help us do these things, we just need to input the relevant parameters in the software. What will the network node do after receiving the transaction information? This is the most important part of the bitcoin system, which needs to be elaborated. For the sake of simplicity, only bitcoin protocol has been implemented. In the current version, each network node will save all transaction information synchronously. There are two kinds of transaction information in history, one is & quot; Verified & quot; The transaction information, that is, the verified transaction information, is stored in a series of "blocks". Each & quot; block" Is the previous & quot; bock" The ID of each block is the hash code of the hash code of the block and the new transaction information (see an actual block). The other category refers to those who also & quot; Unverified & quot; The transaction information just paid above belongs to this category. When a network node receives new unverified transaction information (possibly more than one), it can calculate the book balance of each address at that time because the node keeps all the transaction information in history, so it can calculate whether the transaction information is valid, that is, whether there is enough balance in the payment account. After eliminating the invalid transaction information, it first takes out the last & quot; block" Then, the unverified transaction information is combined with the ID, and a verification code is added to form a new "block". It needs a lot of calculation to build a new block, because it needs to calculate the verification code, so that the above combination becomes a block, that is, the first several bits of the hash code of the block are 1. At present, the first 13 bits need to be 1 (generally, the specific method is uncertain), which means that if the block is generated by enumeration method, the average number of enumerations is 16 ^ 13. Using CPU resources to generate a block is called "gold mining", because the proction of the block will get a certain reward, and the reward information has been included in the block. When a network node generates a new block, it will broadcast to other network nodes. However, this network block may not be accepted by the network, because it is possible that other network nodes have proced the block earlier. Only the earliest block or the block with the largest number of subsequent blocks is valid, and the remaining blocks are no longer used as the initial blocks of the next block. How does the other party confirm that the payment is successful? When the payment information is distributed to the network node, the network node begins to calculate whether the transaction is valid (that is, whether the account balance is enough to pay), and attempts to generate blocks containing the transaction information. When six blocks (one direct block and five subsequent blocks) contain the transaction information, the transaction information is considered "verified", so that the transaction is formally confirmed, and the other party can confirm the successful payment. A possible problem is that I will pay the balance of address a to address B, and at the same time pay to address C. If I only verify that the single comparison transaction is valid. At this point, my way of cheating is to generate six blocks including B to B and six blocks including C to C before the truth is revealed. Because I need a very long CPU time to generate a block, compared with the whole network, the probability of my cheating success is very small. What is the motivation of network nodes to proce blocks? As can be seen from the above description, in order to make the transaction information effective, the network node needs to generate 1 and 5 subsequent blocks to contain the transaction information, and such block generation is very CPU intensive. How to let other network nodes help to proce blocks as soon as possible? The answer is very simple. The agreement stipulates that BTC will be rewarded for the address where the block is proced, as well as the Commission promised by both parties. At present, the reward for procing a block is 50btc, which will be halved every four years in the future. For example, the reward will be 25btc from 2013 to 2016. Is the transaction anonymous? Yes, and No. All bitcoin transactions are visible. We can check all transaction records of each account, such as mine. But what's different from the banking monetary system is that everyone's account itself is anonymous, and everyone can open many accounts. In general, anonymity is not as good as it claims. But bitcoin has another advantage in doing black market trading: it can't be frozen. Even if the police trace a bitcoin address, there is nothing they can do unless they trace the computer used by the exchange based on the Internet address. How to ensure that bitcoin does not depreciate? Generally speaking, in the case of equivalent trading activities, the value of money is inversely proportional to the amount of money issued. Unlike the traditional money market, the central bank can determine the amount of money issued. Bitcoin does not have a central issuing institution. Only by procing blocks can we get a certain amount of BTC currency. Therefore, bitcoin's new amount of money depends on: 1. The speed of procing blocks: bitcoin's agreement stipulates that the difficulty of procing blocks is fixed at an average of 2016 every two weeks, about 10 minutes. Moore's law of doubling CPU speed every 18 months will not speed up the proction of block. 2. The number of rewards for block proction: at present, 50 BTC is awarded for each block proced, which is halved every four years. In 2013, 25 BTC is awarded, and in 2017, 12.5 BTC is awarded. Considering the above two factors, bitcoin's currency issuing speed is not controlled by any single node in the network. Its protocol makes the currency stock known in advance, and the maximum stock is only 21 million BTC
2.
There are two relations between bitcash and bitcoin: bitcash is the bifurcated and competitive currency of bitcoin{ RRRRR}
Second, competitive currency. As the name suggests, they are two competing currencies. It is just like the competition of two kinds of homogeneous goods in the market, competing for market share. In the virtual digital currency market, the market share is so large that more people hold one kind of currency, the number of people holding another kind of currency will be relatively reced, forming a competitive relationship between you and me
in these two relationships, competitive currency is easier to understand, while forked currency is more difficult because it is a technical problem
is the relationship between the two currencies clear now
3.
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
bitcoin (BTC) is the most popular digital currency in the world. The spread occurred on August 1, 2017. In a "hard fork" event, a new digital currency called bitcoin cash (BCH) was born
e to version switching, bitcoin blockchain is bifurcated into two independent blockchains. Everyone who owns bitcoin before the fork is entitled to the same amount of "bitcoin cash" tokens, similar to a dividend in a stock
bitcoin cash (BCH) is a new version of bitcoin with different configurations launched by a small number of bitcoin developers. It is a new type of blockchain asset. On August 1, 2017, the mining of bitcoin cash will begin, and each bitcoin investor will have the same amount of bitcoin cash (BCH) in his account
extended data
currency features
Decentralization: bitcoin is the first distributed virtual currency, and the whole network is composed of users without a central bank. Decentralization is the guarantee of bitcoin's security and freedom
Global Circulation: bitcoin can be managed on any computer connected to the Internet. No matter where you are, anyone can dig, buy, sell or collect bitcoin
exclusive ownership: private key is required to manipulate bitcoin, which can be stored in any storage medium in isolation. No one can get it except the user himself
low transaction cost: bitcoin can be remitted free of charge, but a transaction fee of about 1 bitfen will be charged for each transaction to ensure faster transaction execution
no hidden cost: as a means of payment from a to B, bitcoin has no cumbersome quota and proceres. If you know the other party's bitcoin address, you can pay
cross platform Mining: users can explore the computing power of different hardware on many platforms
reference source:
network bitcoin
4. Introction: bitcoin cash is a branch of bitcoin. In order to solve the problem of long transaction time of bitcoin, at 20:20 on August 1, 2017, a small number of mining machines began to use 8m block to start mining, and the transaction confirmation speed was thousands of times faster than that of bitcoin using 1m block< Br > release time: bitcoin cash is a hard fork of bitcoin on August 1, 2017< < br > maximum supply: 21000000bch < br > current total circulation: 16959625bch < br > market volume: currently accounting for 5% of the cryptocurrency market < br > market value: $21882632910 < br > Future Prospects: bitcoin cash (BCH) is a cryptocurrency representing large blocks, which was born in August 2017. Bitcoin cash (BCH) focuses more on chain trading. Therefore, compared with bitcoin core, bitcoin cash (BCH) has the advantages of low handling charge, no congestion and irreversible transaction.
5. It's mainly about interests. There are mainly the following types of people who oppose BCH:
1. They hype themselves and pave the way for their bifurcating bitcoin. For example, Liao Xiang, who once strongly opposed big blocks, paid big money, and they all bifurcated bitcoin
2. Misled by the core development team, the melon eaters regard the miners as a group of criminals
3. The core development group's opposition to BCH is not only a divergence of development roadmap, but also a dispute of interests. The lightning network promoted by the core development group can make the gold owners behind it profit through the lightning network.
1. They hype themselves and pave the way for their bifurcating bitcoin. For example, Liao Xiang, who once strongly opposed big blocks, paid big money, and they all bifurcated bitcoin
2. Misled by the core development team, the melon eaters regard the miners as a group of criminals
3. The core development group's opposition to BCH is not only a divergence of development roadmap, but also a dispute of interests. The lightning network promoted by the core development group can make the gold owners behind it profit through the lightning network.
6. Bitcoin bitcoin cash has been a month since it was born on August 1. Many people were not optimistic about BCC before it was born, thinking that it would "die in the womb". But bitcoin cash is not as these people think, but shows tenacious vitality, and has achieved many good results this month
BCC, as a new type of blockchain asset generated by hard bifurcations of bitcoin, has a reason for its success
BCC maintains the goal of global point-to-point cash of zhongbencong
the proposal of BCC is not out of thin air, but to better realize the goal of "point-to-point encrypted e-cash system" described in the white paper of zhongbencong. For bitcoin, "Genesis block" is a pioneer. So no matter which fork you look at, whether it's bitcash, segwit2x or bitcoin core - there's one thing in common. They're all from the genesis block on January 3, 2009. Bitcash (BCC) maintains the goal of global point-to-point cash of zhongbencong, while the isolation witness plan turns bitcoin blockchain into settlement layer. On the second layer, lightning network center and other settlement schemes in the second layer will provide charging services to complete transactions faster
therefore, compared with most competitors, no matter which chain they are in, most of the coins have been g out, and there are only a few left. This creates the scarcity of digital currency, which creates value. The EDA (emergency difficulty adjustment rule) of bitcoin cash is also a very important step to ensure the survival of the coin envisaged by Nakamoto
no congestion and low handling charge are the key to the success of BCC
for the original bitcoin chain, the biggest problem now is transaction congestion and high handling charge. But these problems don't exist for bitcash. Because BCC removed segwit and removed the block size limit of 1m, there is no block size limit problem. This means that the use of bitcoin cash will not lead to transaction accumulation, so transaction fees will be lower. Compared with the average transaction fee of bitcoin original chain at $10, BCC costs only a few cents or less. With the advantages of transaction costs highlighted, many online enterprises and business accounts will join the BCC ecosystem to create a better payment system
BCC is the choice of the market and users
the success of BCC depends on the support of the market and users. No matter how good the proct is, it will be worthless if it leaves the users and the market.. Although BCC has changed the original intention of bitcoin technology, it is a new technology attempt, there are still many uncertainties in the future, but the emergence of BCC has also solved many problems. BCC has achieved rapid expansion through hard bifurcation, which solves the problem of transaction congestion of bitcoin for a long time. The large block owned by BCC can make the transaction faster and cheaper, which can truly realize the "point-to-point encrypted e-cash system" mentioned in the bitcoin white paper. This is unmatched by bitcoin in the short term. In order to solve the problem of bitcoin network congestion, the community has been arguing about it for a long time, but there is no good solution to put it into practice. The emergence of BCC makes this problem not only stay in controversy and theory, but also find a better solution through practice. As for how BCC will develop in the future, it still needs time and market to witness.
BCC, as a new type of blockchain asset generated by hard bifurcations of bitcoin, has a reason for its success
BCC maintains the goal of global point-to-point cash of zhongbencong
the proposal of BCC is not out of thin air, but to better realize the goal of "point-to-point encrypted e-cash system" described in the white paper of zhongbencong. For bitcoin, "Genesis block" is a pioneer. So no matter which fork you look at, whether it's bitcash, segwit2x or bitcoin core - there's one thing in common. They're all from the genesis block on January 3, 2009. Bitcash (BCC) maintains the goal of global point-to-point cash of zhongbencong, while the isolation witness plan turns bitcoin blockchain into settlement layer. On the second layer, lightning network center and other settlement schemes in the second layer will provide charging services to complete transactions faster
therefore, compared with most competitors, no matter which chain they are in, most of the coins have been g out, and there are only a few left. This creates the scarcity of digital currency, which creates value. The EDA (emergency difficulty adjustment rule) of bitcoin cash is also a very important step to ensure the survival of the coin envisaged by Nakamoto
no congestion and low handling charge are the key to the success of BCC
for the original bitcoin chain, the biggest problem now is transaction congestion and high handling charge. But these problems don't exist for bitcash. Because BCC removed segwit and removed the block size limit of 1m, there is no block size limit problem. This means that the use of bitcoin cash will not lead to transaction accumulation, so transaction fees will be lower. Compared with the average transaction fee of bitcoin original chain at $10, BCC costs only a few cents or less. With the advantages of transaction costs highlighted, many online enterprises and business accounts will join the BCC ecosystem to create a better payment system
BCC is the choice of the market and users
the success of BCC depends on the support of the market and users. No matter how good the proct is, it will be worthless if it leaves the users and the market.. Although BCC has changed the original intention of bitcoin technology, it is a new technology attempt, there are still many uncertainties in the future, but the emergence of BCC has also solved many problems. BCC has achieved rapid expansion through hard bifurcation, which solves the problem of transaction congestion of bitcoin for a long time. The large block owned by BCC can make the transaction faster and cheaper, which can truly realize the "point-to-point encrypted e-cash system" mentioned in the bitcoin white paper. This is unmatched by bitcoin in the short term. In order to solve the problem of bitcoin network congestion, the community has been arguing about it for a long time, but there is no good solution to put it into practice. The emergence of BCC makes this problem not only stay in controversy and theory, but also find a better solution through practice. As for how BCC will develop in the future, it still needs time and market to witness.
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