What does mining service address mean
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
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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
Mining: that is, bitcoin mining, is a process of using computer hardware to calculate the location of bitcoin and obtain it
you may have to dig for 5 years to get a block. Team mining is that once anyone in the team gets a block, they will divide the currency in the block according to their performance, so that they can get bitcoin quickly.
Mining is the use of bitcoin mining machine, which is used to earn bitcoin
one of the ways to get bitcoin is that users download software from personal computer and then run specific algorithm to get corresponding bitcoin after communicating with remote server
bitcoin is a kind of virtual currency. Bitcoin mining system is the process of carrying out mathematical operation for bitcoin network through computer hardware. Miners who provide services can get a reward, because the network reward is calculated according to the tasks completed by miners, so the competition for mining is very fierce
mining is actually a competition of performance and equipment. The mining machine composed of many graphics cards, even if it's only hd6770, can surpass the single graphics card of most users
and this is not the most terrible. Some mining machines are made up of more such graphics card arrays. When dozens or even hundreds of graphics cards come together, the graphics card itself costs money. Considering the hardware price and other costs, there is a considerable expenditure in mining
bitcoin mining process:
1. To find the ore pool
to start mining, there must be a ore pool with convenient operation and stable output. Its function is to subdivide the data packets for each terminal, and pay the corresponding amount of bitcoin according to the proportion of the data packets calculated by the terminal through precise algorithm
2. Download bitcoin miner (software)
in fact, there are many kinds of this miner, you can go to the official website to download
3. Setting mining software is a green software. After installation, we can set the language first to facilitate further setting. Next, you need to set the server, user name, password, equipment and so on. Generally, the server chooses a better network from BTC guide series, and the user name and password are set by ourselves before
4, bitcoin mining start
when we confirm that all settings are correct, click the "start mining" button to start bitcoin mining, and then the graphics card will soon enter the full speed running state, the temperature and fan speed will increase, you can monitor the state through gpu-z or graphics card driver
the professional point is that mining is a distributed consensus system that includes the transaction data to be confirmed into the block chain, so as to complete the confirmation of these transactions. By mining, the data in the block chain can be stored in chronological order, the neutrality of bitcoin network can be maintained, and different computers on the bitcoin network are allowed to agree on the system state. To be confirmed, a transaction must be packaged into a block that complies with very strict cryptographic rules and verified through bitcoin network. These rules can prevent the modification of existing blocks, because once there is a change, all blocks will be invalid. Mining is as difficult as winning the lottery. No one can easily and continuously add new blocks to the block chain. Therefore, no one can control what content is included in the block chain or replace part of the content in the block chain to rece their cost
at present, bitcoin mining needs professional ASIC mining machines. For example, Avalon mining machine (commonly known as pumpkin Zhang mining machine), which has created countless number one mining machines in the instry, is said to be coming out soon, 28nm chips will be streamed soon, and 16nm chips are under development.
simply speaking, bitcoin mining is to use your hardware device to calculate the mathematical problems of fixed algorithm, confirm the transaction, ensure the security of the whole network system, and the system will give unequal bitcoin rewards according to the amount of computing power contributed by the miners
mining is a process of consuming computing resources to process transactions, ensuring network security and keeping everyone's information synchronized in the network. It can be understood as the data center of bitcoin. The difference lies in its completely decentralized design. Miners operate all over the world, and no one can control the network. This process is called "mining" because it is similar to gold panning, because it is also a temporary mechanism for issuing new bitcoin. However, unlike gold panning, bitcoin mining provides rewards for services that ensure the safe operation of payment networks. After the last bitcoin, mining is still necessary.