What does it mean that miners are easy to dig and accept?

The transaction fee for each transaction contained in the 1. block.

The transaction cost of each transaction is uncertain and is determined by the trader himself. Transactions with high transaction costs can be packaged into blocks faster by miners, so transactions can be confirmed faster.

Second, generate a new block reward bitcoin.

At present, a new bitcoin with a reward of 12.5 is generated. As the number of bitcoins increases, there will be fewer and fewer rewards. According to the current mining speed, as of 2 140, mining will not generate new bitcoin rewards, and all bitcoins will be dug up (2 1 10,000). At this time, the mining income can only come from the transaction fee in bitcoin transactions.

I. Functions

Bitcoin mining machine is one of the ways to obtain bitcoin. Bitcoin is an online virtual currency generated by open source P2P software. It is not issued by a specific monetary institution, but is produced by a large number of calculations of a specific algorithm. Bitcoin economy uses a distributed database composed of many nodes in the whole P2P network to confirm and record all transaction behaviors.

The decentralized nature of P2P and the algorithm itself can ensure that the currency can not be manipulated artificially and create a large number of bitcoins. Any computer can become a mining machine, but the income will be relatively low, and it may not be possible to dig a bitcoin for ten years. Many companies have developed professional bitcoin mining machines, equipped with special mining chips, which are dozens or even hundreds of times faster than ordinary computers.

Second, principles.

Bitcoin system consists of users (users control their wallets through keys), transactions (the transactions will be broadcast to the whole bitcoin network) and miners (blockchain is generated by competitive calculation at each node, and blockchain is a distributed public authoritative account book, which contains all transactions of bitcoin network).

Bitcoin miners manage the bitcoin network by solving the problem of workload proof mechanism of a certain workload-confirming transactions and preventing repeated payments. Because hash operation is irreversible, it is very difficult to find the random adjustment number that meets the requirements, and a trial and error process that can predict the total number of times is needed. At this time, the workload proof mechanism comes into play.

When a node finds a solution that meets the requirements, it can broadcast its results to the whole network. Other nodes can receive this newly solved data block and check whether it matches the rules. If other nodes find that they really meet the requirements (the operation target required by Bitcoin) by calculating the hash value, then this data block is valid and other nodes will accept this data block.