How is bitcoin calculated
1. Mining can not only proce bitcoin, but also guarantee transaction information
similarly, a mathematical system contains 21 million mathematical problems, so we need to constantly seek the special solution of each mathematical problem through a huge amount of calculation. In addition, the special solution is unique
mining can not only increase the supply of bitcoin money, but also protect the security of bitcoin transactions and prevent fraulent transactions. In terms of process, bitcoin network is a point-to-point payment system, and anyone can trade through the transaction program
in order to ensure that the transaction process is truthfully recorded, the role of "miner" is required to be responsible for recording bitcoin transaction information. The time interval is 10 minutes. The best recorded transaction records among miners will be packaged and stored in a new block, and the corresponding miners will also receive a certain amount of bitcoin rewards
2. The mining process is extremely complex, which is beyond human power
the specific process is as follows. When a miner listens to the transaction, he will first verify the transaction information. The verified transactions will be recorded by miners and stored in their own database. There may be thousands of miners in the world doing the same thing, but every ten minutes, only one miner has the right to create a new block, so that the transaction information recorded by himself can be recognized and stored permanently
next, miners need to fight for the right to keep accounts. This is a competition of computing power. The core of this competition is to use computers to complete a large number of calculation tasks and find a super difficult random number. This random number is the special solution of the equation mentioned in the first paragraph. The miner who calculates the correct random number first wins. According to the rules of the game, the probability of a miner getting the accounting right is directly proportional to the proportion of his computing power in the total computing power of the whole network. In other words, the probability of finding the random number is equivalent to throwing out 100 million dice, and the total number of dice is less than 150 million. Therefore, mining requires a large number of computers, installation of specific algorithm software, repeated operation day and night, not human
3. Bitcoin mining is actually "villagers' bookkeeping"
maybe some netizens still don't understand, let's take an example. In a village, the villagers often borrow money from each other, even if they write a written document, there is a risk of default. Then, every time there is a loan behavior in the village, we will use the village trumpet to inform everyone that all the villagers (miners) will record all the transaction records in their own account books.
renrenfu financial and business school tells you that every bitcoin node will collect all unconfirmed transactions and gather them into a data block, which will be integrated with the previous data block. The miner node will attach a random adjustment number and calculate the SHA-256 hash value of the previous data block. The mining node keeps trying again and again until it finds the random adjustment number so that the generated hash value is lower than a specific target
because hash operation is irreversible, it is very difficult to find the required random adjustment number, which requires a continuous trial and error process that can predict the total number. At this time, the workload proof mechanism will play a role. When a node finds a satisfactory solution, it can broadcast its results to the whole network. Other nodes can receive the new data block and check whether it meets the specification. If other nodes do meet the requirements by calculating the hash value, then the data block is valid, and other nodes will accept the data block and attach it to their own chain
bitcoin mining uses SHA-256 hash value operation. This algorithm will carry out a large number of 32-bit integer circular right shift operations
exhaustive verification until it finds a data that meets the requirements. This meaningless data is a dollar
In fact, the mining calculation of bitcoin is to do math problems together. The problem stem is the transaction that needs to be recorded. By doing the problem, everyone grabs the bookkeeping right, and the miners can get system rewards and transaction fees. The feature of sha256 algorithm used in bitcoin is that it is easy to verify the known answers correctly, but it is very troublesome to get the answers, and it needs to try one by one. The miner who got the answer first was recognized by everyone as having snatched the right to keep accounts, and the reward was given to him. Let's continue to grab the bookkeeping right of the next question. In short, the significance of these calculations is only to ensure the stability and safety of the whole system, and there is no more significance
it is not comprehensive to regard bitcoin as a by-proct of computing. The generation and issuance of bitcoin, all the transactions and circulation in the bitcoin chain, and the stability of the bitcoin system are the purpose of computing and are integrated. Of course, in addition to maintaining the system, it does not proce other value and procts. This is also a black spot where bitcoin is accused of not being environmentally friendly and wasting resources. In general, bitcoin, as a milestone blockchain digital currency, is e to the huge value of a large amount of computing power investment and user trust. There is no doubt about that
1. Version of block
2. Hash value of the previous block: prev_ Hash
3. The hash tree value of the transaction record to be written: Merkle_ Root
4. Update time: ntime
5. Current difficulty: nbits
the process of mining is to find x to make
sha256 (version + prev)_ hash + merkle_ root + ntime + nbits + x )) < Target
the range of X in the above formula is 0 ~ 2 ^ 32, which can be calculated according to the current difficulty. In addition to x, you can also try to change Merkle_ Root and ntime. Because of the hash feature, finding such an X can only be brute force search
once calculator a finds x, it can broadcast a new block, and other clients will verify whether the block published by calculator a is legal
if the published block is accepted, the first transaction in each block must be to send the newly generated 25 bitcoins to an address. Of course, calculator a will set this address to the address owned by calculator a to get the 25 bitcoins.