Mining in POS mode of blockchain

1.

In 2009, bencong invented bitcoin, and set that there are only 21 million bitcoins. By participating in the proction of blocks and providing proof of work (POW), he can get the reward of bitcoin network. This process is mining

the concept of "mining" comes from the existing concepts in our real economic life, such as gold mining and silver mining. Because minerals are valuable, it drives people to pay labor to dig

another important point of bitcoin mining is that the miners who participate in mining recognize the value of bitcoin, and some of them are willing to spend money in the bitcoin market. Therefore, the mining of bitcoin is meaningful

extended data

currency characteristics of bitcoin

1, decentralized

bitcoin is the first distributed virtual currency, and the whole network is composed of users without central bank. Decentralization is the guarantee of bitcoin's security and freedom

2, bitcoin can be managed on any computer connected to the Internet. No matter where you are, anyone can dig, buy, sell or collect bitcoin

3, exclusive ownership

controlling bitcoin requires a private key, which can be stored in any storage medium in isolation. No one can get it except the user himself

4, low transaction cost

bitcoin can be remitted free of charge, but in the end, about 1 bitfen transaction fee will be charged for each transaction to ensure faster transaction execution

5, no hidden cost

as a means of payment from a to B, bitcoin has no cumbersome limit of quota and proceres. If you know the other party's bitcoin address, you can pay

6, cross platform mining

users can explore the computing power of different hardware on many platforms

2. Pishon platform is good. It is the first superconctor mechanism in the world, with decentralization and smart contract,; Execution on the chain. All data are public. Fair, just, open, transparent, smooth trading, all gold into the superconcting pool, by the contract execution and publicity, PIs output absolute gold standard value, is expected to exceed 100 times.

3. Qwertycoin, which has been popular recently, was built by the geek team in Germany for 18 months. It is a secure anonymous coin that focuses on privacy and is used for global
secure payment. Qwc has no pre excavation and ICO, and adopts cryptonight algorithm (supporting mainstream mining machine X3 and A8 +) POW mining.

4. Not all blockchain projects will adopt the "workload proof" method similar to bitcoin, which is more common in early blockchain projects. If other proof mechanisms are adopted, such as "proof of stake (POS)" and "dpos (delegate proof of stake)", such mining method is not necessary.

5. < UL >

advantage: unlimited currency needs three confirmations for a transaction, and each confirmation takes 30 seconds, so the transaction confirmation speed is very fast. It is used in daily and common transactions, which is more practical

6.

In short:

1. Bitcoin is a digital currency, and blockchain is a technology

2. Blockchain is the underlying technology of bitcoin, and bitcoin is the first application of blockchain technology; As a state supported and vigorously developed blockchain technology, it will be widely used in all walks of life in the future

3. Blockchain technology is not a new technology, but a new logic of thinking, which just rearranges and combines many previously unrelated algorithm technologies

4. Blockchain means that a block is connected with a block, and thousands of blocks form a chain; To connect the next block, you need to calculate the algorithm answer (mining), and the reward for mining is bitcoin

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