Blockchain transaction process and mining

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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

2. I hope I can help you~

3. blockchain is a kind of technology. Blockchain technology is a decentralized distributed ledger database. There are many applications based on blockchain technology.

mining is a proct based on blockchain technology. Mining refers to the virtual currency launched by various companies, which is also called token. If the name is different, the miner is called miner

4. No, blockchain is very extensive. Some of them are games and limited transactions. Mining is not equal to blockchain

5. Virtual currency is not MLM, but virtual fraud under the guise of bitcoin or virtual currency is not uncommon. In fact, they have nothing to do with virtual currency

the virtual currency represented by bitcoin is completely legal in China. In 2013, in the 12.5 bitcoin risk notice, the central bank and other five ministries and commissions clearly defined bitcoin as a special Internet commodity. People can buy and sell bitcoin freely at their own risk, denying its currency attribute. Zhou Xiaochuan, the governor of the central bank, regards bitcoin as a tradable asset like a stamp. The central bank has no right to ban it.

6. It's the place to buy money. For example, if you want to buy bitcoin investment, the exchange is a store, and you buy it

7. Do you look good?