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What is the principle of network mining? I believe many inexperienced people are at a loss about it. Therefore, this paper summarizes the causes and solutions of the problem. Through this article, I hope you can solve this problem.

I. what exactly is "mining"?

The so-called "mining" is to confirm the transactions that take place in the bitcoin system over a period of time and record them on the block chain to form a new block. the miners are called miners. In short, mining is the process of bookkeeping, the miner is the bookkeeper, and the blockchain is the version.

The bookkeeping right of the Bitcoin system is decentralized, that is, every miner has the right of bookkeeping, and as long as he succeeds in seizing the bookkeeping right, the miner can receive the newly generated bitcoin reward of the system. In this sense, mining is the process of producing bitcoin.

When Satoshi Nakamoto first designed Bitcoin, it was not required to produce 210000 blocks, and the Bitcoin reward was halved once until Bitcoin could no longer be subdivided because the total amount of Bitcoin, also known as digital gold, was limited. Bitcoin production is also known as mining.

2. Necessary tools for mining

Bitcoin is produced through mining, and miners all over the network calculate an arithmetic problem every 10 minutes. As long as the answer is worked out first, it is equivalent to digging this block, and the miner can receive a new Bitcoin reward from the system.

When Bitcoin was born, it was possible to mine through the CPU of a computer. with more and more miners digging, it is no longer possible to dig Bitcoin with CPU, so people began to use miners to mine.

Necessary tools for mining: 1. Mining machine; 2. Bitcoin address; 3. Mining software.

At present, the Bitcoin network is too powerful for individuals to buy a small number of mining machines, it is very difficult to dig out blocks, many miners can only join the mining pool to dig together; the mine is only responsible for calculation, the mining pool is responsible for information packaging. After digging up Bitcoin, the income is distributed according to the proportion of the computing power of the mine, which ensures a more stable input and output.

III. How do miners dig mines

After the birth of blockchain, miners are no longer just the abbreviation of coal miners, but a brand-new meaning. People engaged in virtual currency mining are different from traditional "miners". Miners in the field of blockchain have more scientific and technological colors. The miners' main work is transaction confirmation and data packaging.

Miners need to buy a special computer equipment and download mining software. Mining does not require miners to do it themselves, it is entirely up to the computer to perform specific operations. For miners, as long as ensure the power supply and network connection of the mining machine.

In Bitcoin, for example, a bitcoin mining machine is a professional device that competes for bookkeeping rights by running a large number of calculations to win new Bitcoin awards.

The composition of the mining machine includes: mining chip. Heatsink and fan. Only executing a single computer program consumes more power, mining is actually a competition of arithmetic power among miners, and miners with more arithmetic power are more likely to dig up bitcoin.

As the computing power of the whole network increases, it becomes more and more difficult to find bitcoin with traditional devices, and people have developed chips specifically for mining. The chip is the core part of the mining machine, and a lot of heat will be generated in the process of operation. In order to cool down, bitcoin mining machines are generally equipped with a heat sink and a fan.

Users download Bitcoin mining software on the computer and use the software to assign the tasks of each mining machine to start mining. The algorithm of each coin is different, and the mining machine required is also different.

IV. Satoshi Nakamoto and "Mining"

Is mining necessary for block chains? To answer this question, let's first talk about what exactly is "mining"? Take Bitcoin as an example, if there is no one-to-one transaction, it is not completed. Only when the transaction data is written into the database can the other party really receive the money. First, all transaction data are transmitted to the miners, who are responsible for writing these transactions to the block chain.

The process of calculating the hash is called mining, the machine that calculates the hash is called the mining machine, and the person who operates the machine is called the miner. According to the Bitcoin protocol, the maximum size of a chunk is 1MB, while a transaction is about 500byte, so a chunk can contain up to 2000 transactions. The miners are responsible for packaging more than 2000 transactions together into a block, and then calculating the Hash of the block.

Satoshi Nakamoto deliberately makes it difficult to add new blocks. his design is that only one new block can be generated in the network every 10 minutes on average, and only six in an hour. Artificially set a large number of calculations and difficulty coefficients, need a lot of computing power to get the effective hash of the current block, and then add the new block to the block chain. In order to be the first to add a new block into the block chain, the miners are full of competition, and the one who works out first can enjoy all the benefits of the block, while other miners can only copy that page and post it at the back of their ledger. and then start a new bookkeeping process. Cycle after cycle, the account book increases page by page, and the account book is getting thicker and thicker. From this point of view, mining is actually a security mechanism, which uses cryptographic hash function and asymmetric encryption to ensure that the mining nodes of the block chain network invest a lot of computation before broadcasting blocks and increase the cost of fraud and evil. to ensure that the existing data can not be tampered with, to ensure that the whole network reaches a consensus.

The author believes that Satoshi Nakamoto designed this mechanism to avoid attacks on the system. If an attacker wants to mess up the books, he needs enough computing power. When the benefits are not enough to offset the costs, the attacker has no incentive to attack the system. Therefore, for the block chain, it is necessary to establish a mining mechanism, but a more reasonable and efficient solution will be produced in the future.

After reading the above, have you mastered the principle of network mining? If you want to learn more skills or want to know more about it, you are welcome to follow the industry information channel, thank you for reading!

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