Can Ethereum dig all the time
Publish: 2021-05-29 16:16:37
1. At present, most of the mainstream Ethereum mining machines in the market come from bitmainland and Jianan Yun. However, with the decline of Ethereum's price, the profits brought by mining have been very meager. Investors can choose to invest in Ethereum on the digital currency exchange. At present, the mainstream digital currency transactions in the market are all coin security, fire coin network, bitnet, etc.
2. The token of Ethereum is proced in the process of mining, with a mining rate of 5 Ethereum coins per piece. The mining process of Ethereum is almost the same as that of bitcoin. For each transaction, miners can use the computer to run the unique title metadata of the block through hash function, and guess the answer repeatedly and quickly until one of them wins
many new users believe that the sole purpose of mining is to generate ether in a way that does not require a central issuer (see our guide "what is ether?"). It's true. The token of Ethereum is proced in the process of mining, with a mining rate of 5 Ethereum coins per piece. But mining is at least as important. Usually, banks are responsible for keeping accurate records of transactions. They make sure that money is not created out of thin air and that users don't cheat and spend money many times. However, blockchain introces a new way to keep records, the whole network instead of intermediary, to verify transactions and add them to the public ledger
Ethereum mining
although "no trust" or "trust minimization" monetary system is the goal, there are still people who need to ensure the security of financial records and ensure that no one cheats. Mining is one of the innovations that makes decentralized records possible. Miners have reached a consensus on the history of transactions in terms of preventing fraud (especially double spending on ether) - an interesting issue that hasn't been addressed before the decentralized currency works on the blockchain. While Ethereum is looking at other ways to reach a consensus on the effectiveness of the deal, mining currently keeps the platform together
how mining works
today, the mining process of Ethereum is almost the same as that of bitcoin. For each transaction, the miner can use the computer to guess the answer repeatedly and quickly until one of them wins. More specifically, the miner will run the unique header metadata (including time stamp and software version) of the block through the hash function (which will return a fixed length, unordered string of numbers and letters, which appears to be random), changing only the 'nonce value', which will affect the hash value of the result
if the miner finds a hash that matches the current target, the miner will be granted ether and broadcast the block across the network for each node to verify and add to their own ledger . If miner B finds the hash, miner a stops working on the current block and repeats the process for the next block. It's hard for miners to cheat in this game. There is no way to fake the work and come up with the right answer to the puzzle. That's why solving puzzles is called "proof of work."
on the other hand, others have little time to verify whether the hash value is correct, which is exactly what each node does. About every 12-15 seconds, a miner finds a stone. If the miner starts to solve the puzzle faster or slower than this, the algorithm will automatically re adjust the difficulty of the problem so that the miner can rebound to about 12 seconds of solution time
miners earn these ethers randomly, and their profitability depends on their luck and the computing power they put in. The specific workload verification algorithm used by Ethereum is called "ethash", which aims to require more memory, making it difficult to mine with expensive ASIC. Special mining chips are now the only profitable way to mine bitcoin
in a sense, ethash may have achieved this goal successfully, because dedicated ASIC is not available for Ethereum (at least not yet). In addition, as Ethereum aims to shift from proof of work mining to "proof of equity" (which we will discuss below), buying ASIC may not be a wise choice because it may not prove useful for a long time< However, Ethereum may never need miners. Developers plan to abandon proof of work, the algorithm currently used by the network to determine which transactions are valid and protect them from tampering to support proof of equity, which is guaranteed by token owners. If and when the algorithm is launched, proof of equity can become a means to achieve distributed consensus, and the consensus uses less resources.
many new users believe that the sole purpose of mining is to generate ether in a way that does not require a central issuer (see our guide "what is ether?"). It's true. The token of Ethereum is proced in the process of mining, with a mining rate of 5 Ethereum coins per piece. But mining is at least as important. Usually, banks are responsible for keeping accurate records of transactions. They make sure that money is not created out of thin air and that users don't cheat and spend money many times. However, blockchain introces a new way to keep records, the whole network instead of intermediary, to verify transactions and add them to the public ledger
Ethereum mining
although "no trust" or "trust minimization" monetary system is the goal, there are still people who need to ensure the security of financial records and ensure that no one cheats. Mining is one of the innovations that makes decentralized records possible. Miners have reached a consensus on the history of transactions in terms of preventing fraud (especially double spending on ether) - an interesting issue that hasn't been addressed before the decentralized currency works on the blockchain. While Ethereum is looking at other ways to reach a consensus on the effectiveness of the deal, mining currently keeps the platform together
how mining works
today, the mining process of Ethereum is almost the same as that of bitcoin. For each transaction, the miner can use the computer to guess the answer repeatedly and quickly until one of them wins. More specifically, the miner will run the unique header metadata (including time stamp and software version) of the block through the hash function (which will return a fixed length, unordered string of numbers and letters, which appears to be random), changing only the 'nonce value', which will affect the hash value of the result
if the miner finds a hash that matches the current target, the miner will be granted ether and broadcast the block across the network for each node to verify and add to their own ledger . If miner B finds the hash, miner a stops working on the current block and repeats the process for the next block. It's hard for miners to cheat in this game. There is no way to fake the work and come up with the right answer to the puzzle. That's why solving puzzles is called "proof of work."
on the other hand, others have little time to verify whether the hash value is correct, which is exactly what each node does. About every 12-15 seconds, a miner finds a stone. If the miner starts to solve the puzzle faster or slower than this, the algorithm will automatically re adjust the difficulty of the problem so that the miner can rebound to about 12 seconds of solution time
miners earn these ethers randomly, and their profitability depends on their luck and the computing power they put in. The specific workload verification algorithm used by Ethereum is called "ethash", which aims to require more memory, making it difficult to mine with expensive ASIC. Special mining chips are now the only profitable way to mine bitcoin
in a sense, ethash may have achieved this goal successfully, because dedicated ASIC is not available for Ethereum (at least not yet). In addition, as Ethereum aims to shift from proof of work mining to "proof of equity" (which we will discuss below), buying ASIC may not be a wise choice because it may not prove useful for a long time< However, Ethereum may never need miners. Developers plan to abandon proof of work, the algorithm currently used by the network to determine which transactions are valid and protect them from tampering to support proof of equity, which is guaranteed by token owners. If and when the algorithm is launched, proof of equity can become a means to achieve distributed consensus, and the consensus uses less resources.
3. The core component is the graphics card, which accounts for about 80% of the cost, followed by the motherboard and power supply, with high configuration. If you're digging deep in the mountains with a large mining machine. If personal computers are not enough for electricity, you can also choose crowdfunding mining machine... And now mining is generally in the place where electricity is cheaper, and the money is usually directly linked to the platform (currency exchange trading platform). Personal suggestions should be considered. After all, electricity is not enough.
4. Generally speaking, it doesn't work (this only refers to most platforms, but a small part has no threshold)
it's better to wait and save enough for cash withdrawal
it's better to wait and save enough for cash withdrawal
5. The biggest disadvantage of Ethereum is that its quantity has been increasing. How can an item without an upper limit be used as an investment proct? As we all know, the rise in the price of a commodity is in the final analysis the quantity comparison between the supply and demand sides. The supply exceeds the demand, the price falls, the supply is less than the demand, and the price rises. The amount of bitcoin and lettercoin is fixed. The total amount of bitcoin is 21 million, and now there are more than 10 million. The rest will take another 100 years. Now the amount of Ethereum is more than 90 million, and 18 million will be generated every year. Ethereum has 250 blocks per hour, 5 coins for each block (and some transaction fees and other rewards), 24 hours a day, that is, 30000 + coins will be added every day. So there's no limit to the amount of ether
how many years can the ether coin be g
how many Ethernet coins can be proced each year? At present, five new ether coins are generated for each new block. If you dig out a block every 14 seconds, it will take 31.5 million seconds (365 x 24 x 60 x 60) a year, which means that 2.25 million blocks are g out every year
every miner has considered how long the ether coin can be g, whether I can't dig the ether coin after I buy the miner, or I can't dig the ether coin after I invest in the miner. I can tell you clearly that the ether coin can't be g up, and the official shows the quantity when it comes to the ether coin, but don't go, Ethernet currency is constantly bifurcating. Once the quantity is threatened, it will continue to bifurcate. The miners can continue to dig for new currencies from the bifurcations. For example, etc and ETF are examples. After the bifurcations, the ETH price will go up crazily. Therefore, miners need not worry about the quantity of Ethernet currency.
how many years can the ether coin be g
how many Ethernet coins can be proced each year? At present, five new ether coins are generated for each new block. If you dig out a block every 14 seconds, it will take 31.5 million seconds (365 x 24 x 60 x 60) a year, which means that 2.25 million blocks are g out every year
every miner has considered how long the ether coin can be g, whether I can't dig the ether coin after I buy the miner, or I can't dig the ether coin after I invest in the miner. I can tell you clearly that the ether coin can't be g up, and the official shows the quantity when it comes to the ether coin, but don't go, Ethernet currency is constantly bifurcating. Once the quantity is threatened, it will continue to bifurcate. The miners can continue to dig for new currencies from the bifurcations. For example, etc and ETF are examples. After the bifurcations, the ETH price will go up crazily. Therefore, miners need not worry about the quantity of Ethernet currency.
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