What is Bitcoin mining?

What is Bitcoin mining?

The author of "Bitcoin and Blockchain Fundamentals" said that you need some basic knowledge and abilities to use digital currency, but not everyone has these skills. ThWhat is Bitcoin mining?e fact is also true: the survey found that respondents with a college or higher degree are more than twice as likely to use cryptocurrency as those with a high school diploma or vocational training.

Indeed, every time Bitcoin has risen and fallen sharply in recent years, it will appear in the hot topics of social media. The wealth effect of the associated price is always a prominent factor for Bitcoin to attract the attention of the general public. Secondly, it appears in the news. The medium time is always related to the illegal transactions on the dark web and the waste of electricity. Not long ago, in the exploitation of women in Room N in South Korea, the illegal income of the suspect was also Bitcoin.


In addition to these relatively successful cryptocurrency projects, a large number of public chain projects such as public chain development and Dapp applications have also emerged in 2017. Thanks to the rapid development of the industry, the volume of these emerging projects is gradually increasing. With the change of cryptocurrency bulls and bears, these projects have also died down. During this period, the market value of Bitcoin also increased from 33% to 52%, and its status in the arena has gradually stabilized.

Vitalik has posted on the forum many times and even emailed Blizzard’s engineers requesting to restore the game’s "Life Siphon" damage function, but the creative team of World of Warcraft has always been tough, and he only got a four-word reply: "Cannot be restored." . He therefore realized that the right to change the role is controlled by someone, "This is a terrible thing."

Block's Larry Cermak tweeted about the growth of Venezuela's localbitcoins.com peer-to-peer market. Venezuela buys much more Bitcoin than other high-risk economies (such as Argentina, Colombia, Turkey, and Iran). Countries such as Argentina, Colombia, Turkey and Iran also believe that the increase in Bitcoin transaction volume is a hedge against inflation. One of the hedging toWhat is Bitcoin mining?ols.

Hui Yi, the founder of BitEasy, is a successful serial entrepreneur and investor. Hui Yi once founded a P2P company twice and escaped P2P thunderstorms and successfully retreated hundreds of millions in profits. He also escaped the stock market crash at 5,000 A-shares, and has the title of "Gui Shen". Hui Yi entered the blockchain industry to start BitEasy and provide asset management services for many high-net-worth investors.

Samson: The concept of taint also comes from this. We often hear that some coins are dirty, and some coins are cleaner. The former refers to coins that are used on dark webs such as the Silk Road, so they are called dirtycoins; the latter is cleaner and refers to coins obtained from exchanges such as Coinbase or legitimate methods such as mining. However, such a distinction between cryptocurrencies is harmful to ecological development, and it is difficult to constitute a sound currency.

The PoW team has begun to fight back, and they have taken a variety of measures to deal with possible attacks. According to the requirements of the development team, Binance has begun to increase the number of transaction confirmations for the equihash currency. In theory, the more confirmations required, the easier it is for developers to detect and stop 51% of possible attacks. At the same time, Maidsafe has proposed to adopt a new consensus mechanism called PARSEC, but some people believe that doing so may lead to Sybilattacks.