What does computer mining mean?

Computer mining is the process of mining cryptocurrency (such as bitcoin) with a mining machine (computer). Mining bitcoin is like solving a math problem. If you get the answer first, you will get the corresponding reward. Therefore, the whole process of solving and verifying is called mining, and the equipment that helps to crack the digital answer is called mining machine. Therefore, people who run mining machines and gain benefits are called miners.

1. At the beginning of the birth of Bitcoin, ordinary computers could carry out mining operations, and it was easy for individuals to dig out a piece. However, with the development of Bitcoin, the difficulty adjustment mechanism of extracting a block every 10 minutes, and the continuous improvement of the computing power of the whole network, the computing power of ordinary computers is not enough to dig out blocks, which leads to more concentrated professional mining machines with stronger computing power, that is, ASIC mining machines. But the computing power of a single ASIC mining machine is still limited. Faced with the increasing computing power of the whole network, the mine pool has gradually become an operator that concentrates the computing power of miners. Such as coin printing mine pool, viapool, etc.

Second, how to gain benefits from mining? The process of miners' mining is to run bitcoin nodes, synchronize historical account books, record the latest transactions of account books, and get bitcoin block rewards. The more concentrated the mining machines are. For the bitcoin network, miners maintain the security of the bitcoin network by mining. For miners, they get bitcoin rewards by mining. At present, the reward for bitcoin explosion/explosion is 12.5 bitcoin (editing date: 2065438+September 2, 2009). Mining means that the workload proves that the more concentrated the PoW (proof of work) mining machine is. The workload proves that the hash value calculated after assembling transaction data meets the specified upper limit by calculating nonce. After the node successfully finds a satisfactory hash value, it will immediately broadcast to the whole network to inform the whole network that it has been packaged into a new block. After receiving the broadcast package block, the nodes of the network will immediately verify it. If the verification is successful, it means that a node has successfully solved the puzzle, so it no longer competes for the current block package, but chooses to accept this block, record it in its own account book, and then compete for the next block. Only the fastest puzzle-solving block in the network will be copied by other nodes in the added account book, thus ensuring the uniqueness of the whole account book.

Third, is the computing power directly proportional to the mining income? Are mining machines more concentrated? The relationship between computing power and income:

1) In the case of the same difficulty, the more concentrated the mining machines, the higher the computing power and the higher the income;

2) The difficulty of Bitcoin is adjusted every 20 16 blocks in about two weeks, and the more concentrated the mining machines are. There may be cases where the computing power increases but the income decreases because of the difficulty in adjusting the whole network.

3) Bitcoin rewards half every four years. The reward is halved, the mining income of users is halved, and the mining machines are more concentrated. Calculation formula between computing power and income: your mining income in one day = your computing power * time in one day (86,400 seconds) * reward (12.5 bitcoin)/(difficulty of the whole network * 2 32)