The larger the calculation example of ore pool, the more mining

1. From cheap electricity to centralized mining, China's resources and environment provide bitcoin miners with many advantages. In recent years, bitcoin miners have used cheap electricity to expand their business in coal rich regions such as Xinjiang and Inner Mongolia, which are home to the founders of some of the world's leading mining companies

with the rising price of bitcoin, more and more people join the bitcoin mining business. Accordingly, mining consumes more and more energy. Obviously, our government is also aware of this

according to the requirements of the document, regulators require local governments to take measures related to electricity price, land use, tax and environmental protection to guide bitcoin miners to withdraw from the business. According to foreign media reports, regulatory authorities are mainly concerned about the money laundering and financial risks involved in the shutdown policy, but excessive power consumption is also a factor that can not be ignored. In principle, bitcoin mining consumes a lot of power because every time a new bitcoin is proced, it needs to solve the complex mathematical problems through the encryption process performed by a high-performance computer. Mining calculation process is used to verify bitcoin transactions in the blockchain to ensure security, but the disadvantage is that it consumes a lot of energy.

2. Mining pools are arranged according to computing power. For example, the computing power of digyi mining bitcoin mining pool accounts for about 4% of the total network computing power, ranking among the top ten mining pools in the world. The four technology blockchains are relatively good.

3.

Mine pool refers to:

as the computing level of the whole bitcoin network continues to rise exponentially, a single device or a small amount of computing power can not get the block reward provided by the bitcoin network on the bitcoin network

after the computing power of the whole network has been improved to a certain extent, the low probability of getting rewards has prompted some geeks on "bitcoin talk" to develop a method that can combine a small amount of computing power and operate jointly, and the website established in this way is called "mine pool"

extended data:

the existence of the mine pool reces the difficulty of bitcoin and other virtual digital currency mining, reces the mining threshold, and truly realizes the bitcoin mining concept that everyone can participate in

but its disadvantages are also very obvious, because computing power is connected to the mine pool. As a mine pool, it will have huge computing power resources. In the bitcoin world, computing power represents the bookkeeping right, and computing power is everything. If the computing power of a single mine pool reaches more than 50%, it will be easy to launch 51% attacks against virtual digital currencies such as bitcoin, The consequences are very terrible:

the mine pool can make the mine pool with 49% of the remaining computing power have no harvest, instantly quit the competition and go bankrupt. The mine pool's computing power exceeds 50%. If 51% attack is launched, it will easily occupy all the effective computing power of the whole network

4. Of course, the quality of this senior miner will be high.

5.

Mining is perhaps one of the most important components of the bitcoin ecosystem. Miners need to solve complex mathematical problems, so as to ensure the smooth implementation of the transaction. These problems are so complex that they are difficult to solve even for extremely powerful computers. Computers need work and luck to solve these mathematical problems, just as miners dig underground. The chance of solving this problem correctly is about one in 13 trillion

bitcoin mining has two purposes. Firstly, by solving mathematical problems, bitcoin miners can verify the transaction information, so as to ensure the security and reliability of bitcoin payment network. Miners are the people who ensure that transactions are accurate and that there is no "double payment."

Secondly, when the computer solves these complex mathematical problems on the bitcoin network, the system will generate new bitcoin, which is similar to the process of mining gold from the ground. The reward is called "block reward", and after the event called "halving", its amount will be periodically halved. The newly discovered concept of bitcoin is an important part of bitcoin protocol. The bitcoin obtained by the miners is brand new and has never been in circulation before

since miners will eventually sell the bitcoin, it is also an important source of supply and liquidity. As chainalysis reports, many digital currency exchanges rely on miners to receive bitcoin and increase their liquidity. Typically, exchanges get about 88% of bitcoin from other exchanges, and bitcoin miners are the largest source of the remaining percentage. As you can imagine, there is fierce competition between exchanges to receive bitcoin directly from miners

further enlarge the map, most of the mining activities are only carried out in four provinces, the first two provinces are Xinjiang and Sichuan, accounting for nearly half of all bitcoin mining in China. Electricity prices are cheap and the weather is cold in these areas. This helps to keep mining profits and equipment cool ring the 24 / 7 operation and maintenance period of bitcoin mining

but this is nothing new for digital currency issuance. For many years, China has been a major market for bitcoin miners e to its cheap electricity and abundant resources. Bitmain, f2pool and Canaan are all located in China

whether this is a negative or positive message depends on your point of view. But for decentralized, distributed, unlicensed networks, geographic regions across multiple entities are more healthy for the entire ecosystem

6. The difficulty of mining will become more and more difficult with the decrease of quantity and the passage of time. For example, Gehua chain routing bar has sold 3000 reservation codes in advance, and only those who get the reservation codes can buy them. The mining pool started on March 31, and only 3000 people scrambled for those coins. The more difficult it is to dig the later coins, the higher the price of Gehua coins, so the more people who come first earn.

7. At present, bitcoin is the only reliable virtual currency. Bitcoin is a kind of virtual currency generated by the corresponding algorithm, which needs to use a large number of mining machines, that is, servers for mining. At present, only the virtual currency issued by the central bank is legal in our country, and the others are illegal
I hope I can help you. Thank you for your adoption.

8. Now the domestic mine pool has accounted for more than 60% of the computing power of the whole network, but it is no longer the only one. Mining is basically the Chinese has the final say. If several large mines unite to launch a 51% attack, it is completely feasible in theory, but it is not in their interests, so they will not do it. It's not a good thing that computing power is in the hands of a mining pool. It is very dangerous to concentrate too much on any kind of currency. However, there are also some coins that do not need to be mined, such as Ruitai.

9. "Mining" in the blockchain is the process of bookkeeping. You can purchase computing power equipment, that is, "mining machine", to "mine" and get bookkeeping rewards
however, with the increasingly fierce competition in bookkeeping and the graal rise of dpos, ordinary computing power equipment has been unable to meet the needs of mining
it is necessary to purchase more professional mining machines or join large mines. Therefore, the threshold of mining is slightly higher
where there is demand, there is market
e to the increasing market demand for professional mining machinery, more and more chip enterprises increase investment in chip R & D, and start to develop mining machinery with higher computing power and lower energy consumption, so as to earn profits
when the currency price rose sharply in 2017, this kind of mining machinery was in short supply
as the level of computing power in the whole network is getting higher and higher, it is difficult for a single miner to seize the bookkeeping right and obtain bookkeeping rewards. Therefore, the way of combining a small amount of computing power and joint operation arises at the historic moment to improve the competitiveness of bookkeeping
the website established in this way is called "mine pool"
the profit model of the mine pool is to charge the handling charge. The more people participate in the mine pool, the higher the proportion of handling charge, the higher the income of the mine pool company
blockchain is the core supporting technology of digital cryptocurrency system represented by bitcoin. The core advantage of blockchain technology is decentralization. It can realize point-to-point transaction, coordination and cooperation based on decentralized credit in a distributed system without mutual trust by means of data encryption, time stamp, distributed consensus and economic incentive, so as to solve the common high cost, low cost and low cost of centralized institutions Low efficiency and data storage insecurity provide solutions
the application fields of blockchain include digital currency, token, finance, anti-counterfeiting traceability, privacy protection, supply chain, entertainment, etc. with the popularity of blockchain and bitcoin, many related top domain names have been registered, which has a great impact on the domain name instry.

10. 2% - 7% reward for direct promotion