What does virtual currency mining mean?

Virtual currency mining is a way for investors who invest in the virtual currency market to obtain virtual currency. Its principle is to use the computing power of the computer to run the special algorithm of virtual currency and calculate the hash value that conforms to its rules. In essence, it is to generate the latest virtual currency block and package it at the end of the original blockchain, which can be understood as fighting for the bookkeeping right of the account book. These investors are keen on virtual currency mining because the issuer of virtual currency will give some rewards to this behavior, and because many investors recognize the value of virtual currency, the newly generated virtual currency also has value in the market.

What does virtual currency mining mean?

For example, in the world of Bitcoin, a block is generated every 10 minute on average. All mining computers are trying to package and submit the data block, and the first person who successfully generates the data block will be rewarded with 1 BTC. Initially, about 50 bitcoins can be generated every 10 minute. However, since July this year (16), the number of bitcoins distributed on the Internet has decreased. Every 10 minute, each block only includes 12.5 BTC, which means that the amount of bitcoins dug up by the same computing power is also reduced. However, the era of CPU mining has long passed, and GPU mining has long been out of the mainstream. Today, bitcoin mining machines include ASIC mining and large-scale cluster mining.