Power Investment
the feature of sha256 algorithm used in bitcoin is that it's easy to verify the known answers correctly, but it's very troublesome to get the answers, and you need to try them 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
simply speaking, the significance of these calculations only lies in ensuring the stability and security of the whole system, and has 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 all the purposes of computing. 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, comes from the huge value of a large amount of computing power investment and user trust. There is no doubt about that.
In the discussion of blockchain, bitcoin and other digital currencies, we often hear the word "bifurcation". So what is bifurcation? What is the effect of bifurcation
blockchain
before talking about bifurcation, popularize a little knowledge of blockchain, so as to help us understand what bifurcation is more easily (if you don't have any concept of blockchain, please read my previous articles, which are all popular words to help you understand what blockchain is)
blockchain, as the name suggests, is a chain composed of blocks. Of course, this kind of chain is just a figurative metaphor. To put it bluntly, data blocks are connected orderly. In bitcoin, the transaction records of bitcoin are stored in the block. The size of the block and the space occupied by the transaction records determine how many transactions can be stored in a block. These transaction records are packaged into blocks, and then the blocks are connected one by one to form a blockchain
We know that bitcoin software, like other software, needs to be updated and modified regularly in order to make it better. So a new version will appear, but not everyone will download the new version, so one miner will run the old version, and some will run the new version. If the old and new versions are not compatible, the blockchain will bifurcate. Because there may be differences between the version blocks and the old version blocks, they cannot be connected to the same blockchain, so there will be two or even more chains, which is called bifurcation
soft forking
soft forking refers to that when the new consensus rules are released, nodes that have not been upgraded will proce illegal blocks because they do not know the new consensus rules, resulting in temporary forking. This kind of bifurcation will be graally repaired with the upgrading of nodes
hard fork
hard fork refers to the permanent divergence of the blockchain. After the release of the new consensus rules, some nodes that have not been upgraded cannot verify the blocks proced by the upgraded nodes, and usually hard fork occurs. Therefore, in the field of digital currency, hard bifurcation often leads to the emergence of new currencies. For example, the hard bifurcation of Ethereum led to the emergence of eth
What is bifurcation? What is bitcoin bifurcationThe data throughput involved in mining is very large, so it is best to select the enterprise purple disk to meet the requirements of high load computing
ordinary computer hard disk: we often call it SATA hard disk, which is the most widely used hard disk with relatively slow transmission speed and is not suitable for the high load of mining
NAS disk: this disk is mainly used in the computer room of the data center, suitable for large capacity storage. The transmission performance is also good
monitoring disk: Purple disk, the hard disk used for enterprise monitoring has better performance and better stability
ore pool. It has physical mines in many regions of the world, and has deployed thousands of the latest mining machines. Its main business is to provide cloud computing power services for blockchain technology. It is not only doing the consensus mechanism of pow workload proof, but also has the consensus mechanism of POS, dpos and other equity proof
there are two ways of investment: 1. Investment of mine pool fund, with an initial investment amount of 100000 to several hundred thousand; The investment cycle is half a year, and the income is higher than that of general bank financial procts. 2. Recently, the popular version of mine pool computing power investment is launched, with low threshold and stable income, mainly through leasing personal computing power to obtain a certain proportion of income; The income mainly depends on the amount of investment, the amount of calculation and the age of calculation. When the market performance of blockchain is not good, the proportion of revenue decreases or at most there is no revenue, which will not affect their own money
if you want to know more about it, you can ask me by private letter~
bitcoin system is composed of users (users control the wallet through the key), transactions (transactions will be broadcast to the whole bitcoin network) and miners (a blockchain is generated by competitive computing to reach a consensus at each node, and the blockchain is a distributed public authoritative account book, including all transactions in the bitcoin network)
mining is a process of increasing bitcoin money supply. Mining also protects the security of the bitcoin system, prevents fraulent transactions, and avoids "double payment", which means spending the same bitcoin multiple times. Miners offer algorithms for bitcoin networks in exchange for the opportunity to get bitcoin rewards. The miners verify each new transaction and record it in the general ledger. Every 10 minutes, a new block will be "mined", and each block contains all the transactions from the generation of the previous block to the present, which are added to the blockchain in turn. We call the transactions included in the block and added to the blockchain "confirmed" transactions. After the transaction is "confirmed", the new owner can spend the bitcoin he gets in the transaction
there are two types of rewards for miners in the process of Mining: the new currency reward for creating a new block, and the transaction fee for the transaction contained in the block. In order to get these rewards, miners compete to complete a mathematical problem based on encrypted hash algorithm, that is, to use bitcoin mining machine to calculate the hash algorithm. This requires strong computing power, how much the calculation process is, and whether the calculation results are good or bad. As the proof of miners' calculation workload, it is called "workload proof". The competition mechanism of the algorithm and the mechanism that the winner has the right to record transactions on the blockchain ensure the security of bitcoin
miners also get transaction fees. Each transaction may contain a transaction fee, which is the difference between the input and output of each transaction. A miner who successfully "digs" a new block in the process of mining can get all the transaction "tips" contained in the block. With the decrease of mining reward and the increase of the number of transactions in each block, the proportion of transaction fee in miners' income will graally increase. After 2140, all miners' earnings will be made up of transaction fees
mining is a process of decentralizing settlement, in which each settlement verifies and settles the processed transaction. Mining protects the security of bitcoin system, and achieves the consensus of the whole bitcoin network without a central organization. The invention of mining makes bitcoin very special. This decentralized security mechanism is the basis of point-to-point e-money. The reward and transaction fee for casting new coins are a kind of incentive mechanism, which can regulate miners' behavior and network security, and at the same time complete the currency issuance of bitcoin.
in the end, there is a lower electricity price. The ultimate purpose of the trusteeship enterprise to carry out the mineral machinery trusteeship business is to make profits. If the trusteeship enterprise can not get lower than the normal electricity price on the market, it is difficult for the trusteeship enterprise to make profits. Of course, the electricity price given to the investors will also be lower than the normal electricity price on the market. Another important advantage is that some trusteeship enterprises are able to cash the virtual currency g up by investors' mining machines directly, which also relieves some investors from the worry that they can't cash the virtual currency
at first, I thought hosting was expensive, but later I found that it was still so convenient. I always bought mining machines. The mining machine sales platform (honeycomb) would transport them to the mine for you, and there was a special person to manage and maintain them for you. I just looked at how much money I earned every day, which was much easier. New people even suggested hosting.