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RE: The Battle And Future Of Bitcoin In Jeopardy

in #dtube7 years ago

google translated
Mining is the process of adding transaction records to public bitcoin from past book transactions (and a "RIG mining" is a familiar metaphor for a single computer system that performs the necessary calculations for " mining ") This book of the past transactions is called the block of the chain as it is a chain of blocks.The block of the chain serves to confirm the transactions for the rest of the network as having occurred .. bitcoin nodes use The chain block distinguishes legitimate bitcoin transactions from tent to re-pass currencies that have already been spent elsewhere.Mineral is intentionally designed to be resource intensive and difficult so that the number of blocks found each day by the miners remains stable. Individual blocks must contain proof of work to be considered valid.This proof of work is verified by other bitcoin nodes each time They receive a block .. Bitcoin uses the hashcash proof of working function. The main objective of mining is to enable bitcoin nodes to achieve a secure, burglar-resistant consensus. Mining is also the mechanism used to introduce bitcoins into the system: miners are paid any transaction fees as well as a "grant" of newly created coins. This time serves the purpose of spreading new coins in a decentralized manner as well as motivating people to provide security for the system. bitcoin mining is said because it looks like mining other commodities: it requires effort and slowly makes new currency available at a rate that looks like the speed at which commodities like gold are extracted from the soil. difficulty calculating-difficult problem of mining a block is difficult because the Sha-256 hash of a head block must be less than or equal to the target for that block to be accepted by the network. this problem can be simplified for explanation of purposes: the hash of a block must begin with a certain number of zeros. the hash calculation probability that starts with many zeros is very small, therefore, many attempts must be made., in order to generate a new hash each turn, a nonce is incremented. see proof of work for more information. Metric difficulty The difficulty is the measure of how difficult it is to find a new block compared to the easier it can ever be. the rate is recalculated every year to 1616 blocks so that the previous 2016 blocks would have been generated in exactly a couple of weeks (two weeks) had everyone been mining at this difficulty. This is expected to yield, on average, a block of every ten minutes. in addition to joining minors, the block creation rate increases. as the block generation rate increases, the difficulty to rise to compensate, which has an effect balancing due to reduce the block-creation rate. Any blocks released by malicious minors that do not meet the required difficulty target simply be rejected by other participants in the network. reward when a block is discovered, the discoverer can price themselves a certain number of bitcoins, which is agreed by everyone in the network. currently this premium is 12.5 bitcoins; this value halves each 210,000 blocks. see controlled supply currency. in addition, the minor is awarded the fees paid by users sending the transactions. the fee is an incentive for the minor to understand the operation in their block. In the future, as the number of new minor bitcoins are allowed to create in each block decrease, the fees will set up a much larger percentage of mining revenue. Mining ecosystems hardware FPGA module users have used various kinds of hardware over time at the mine blocks. Hardware specifications and performance detailed statistics on mining material comparison page. CPU early mining bitcoin client versions allowed users to use their processors at the mine. the advent of GPU mining makes CPU mining financially reckless as the network hashrate has grown to such an extent that the amount of bitcoins produced by CPU mining has become lower than the cost of power exploit a CPU. the option has been removed from the bitcoin database of the UI client. GPU mining GPU mining is considerably faster and more efficient than CPU mining. see the main article: why a GPU mines faster.

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