Mining, the process of calculating the location of digital currency and obtaining it through computer hardware is called mining. For example, every other point in time, the Bitcoin system generates a random code on the system nodes. All computers on the Internet can look up this code. Whoever finds this code generates a block and then gets a bitcoin. This process is often referred to as mining. whatsminer m30s+Calculating this random code requires a lot of GPU operations, so miners buy massive amounts of graphics cards to make the bitcoin more profitable faster.

Confirming that the process of trading in the virtual currency market requires a complex computing environment for businesses to operate, miners use computers to perform these data operations, which can then be rewarded with virtual currency, which is known as the mechanism of virtual currency mining.

The total amount of bitcoin is limited, with the total amount of bitcoin in the first four years being 10.5 million bitcoins and decreasing by half every four years, the total amount of bitcoin in years four through eight being 52.5 million bitcoins, the total amount of bitcoin in years eight through twelve being 2.625 million bitcoins and so on. By the end of the year, the total number of bitcoins generated was close to 21,000,000 BTC.

According to the data structure, a bitcoin is divided into eight antminer s19 pro ebaydecimal places, or 0.00000001 BTC. the minimum number of bitcoins a miner can mine is 0.00000001 BTC.

In total, bitcoin is like a gold mountain with a total of 21 million gold coins. To get it, a player needs to use the computing power of a computer to calculate a set of numbers according to the existing algorithm.

Simply put, mining is actually a development process of digital currency issuance in China, through blockchain technology to analyze and record the data information on the chain, and then students broadcast thus they can get the reward, then for this reward is the newly issued digital currency.

Currently, there are two main types of digital currency issuance: one is through computers running specific algorithms (POW proof of workload mechanism) competing for accounting rights. The other is interest earned by holding significant digital currencies (POS Proof of Interest mechanism).

Why mining?

Mining is the process of using computer hardware to calculate the location of digital currencies and obtain what is called mining.

Bitcoin is an online ledger with no central authority (the central authority for the RMB is the central bank). Bitcoin updates its ledger about every 10 minutes, so who has the right to keep track? Bitcoin has designed a very complex mathematical problem that requires computers to perform complex calculations. Whoever calculates the correct result first has the right to remember the ledger for 10 minutes. The person who owns the account will receive some bitcoins as a reward. The process is called "mining" because it is somewhat similar to whatsminer m30gold mining in a gold mine. In the early days, ordinary computers were used for mining. Nowadays, because of the difficulty of computing, professional computing equipment is used, which we call "mining machines".

"Mining must know"

I. What is a mining machine?

The two most important indicators of mining machine analysis is the arithmetic power and power consumption, arithmetic power to determine how many coins the mining machine unit working time can output needs, power consumption can determine the mining machine unit development time can consume no how much Chinese electricity, a simple example: a mining machine arithmetic power 13.5TH / s (13.5T times per second data Hash operations), power consumption 1200W (1.2 degrees an hour electricity).

Second, what is a mine?

A mine is where these machines are stored, and the main requirements are power (adequate power supply and reasonable wiring) and heat dissipation (high heat generation of the machines). In Inner Mongolia, mines without windows are also very hot in winter; noise (high noise of mining machines to prevent disturbing people); and site (cost-effective more suitable for buildings).

Third, what is a mining pool?

Mining pools, initially bitcoin was not the concept of a mining pool, as it used to be said in mining pools, early mining was like a lottery with a chance of winning, later, many people gathered the computing power of mining machines to mine, thus forming a mining pool. The larger the mining pool, the greater the chance of winning. The winning prize is distributed equally to all the mining machines in the pool, so the mining machines will have a steady income, don't try your luck.