Bitcoin mining has always been a hot topic in the currency circle, and people are curious about the calculation process behind it. What exactly is calculated in Bitcoin mining? Let’s unveil the mystery of this digital currency.

Behind Bitcoin mining lies a complex and sophisticated computing task. Mining is actually solving mathematical puzzles while ensuring the safe and stable operation of the Bitcoin network. One of the core technologies of Bitcoin is Proof of Work, and mining is to prove one's contribution to the network by constantly trying to calculate hash values that comply with certain rules. This calculation process requires a lot of computing power and electricity support, so mining is also called a "computing power competition".

Each block in the Bitcoin network contains a certain amount of transaction information, and the goal of mining is to package these transactions into a new block and calculate the hash value that complies with the network rules to obtain the record. Account rights and receive corresponding Bitcoin rewards. This process requires constantly trying different random numbers to calculate the hash value until a value that meets the requirements is found. This is like playing a "guess the number" game in a mathematical puzzle. Only miners with sufficiently powerful computing power can have a chance to successfully mine new blocks.

As the Bitcoin network continues to develop and expand, the difficulty of mining continues to increase. In order to maintain the issuance speed of Bitcoin and network security, the mining difficulty will be automatically adjusted according to changes in network computing power. This means that miners need to continuously improve their computing power to cope with increasingly fierce competition. Some large mining farms will even invest heavily in building specialized mining equipment to gain more computing power and mining advantages.

In addition to the technical aspects of mining, Bitcoin mining also involves many fields such as economics and sociology. Mining is not only a computing activity, but also an economic behavior. Miners obtain Bitcoin rewards through mining, while also maintaining and strengthening the security of the Bitcoin network. The decentralized and decentralized nature of mining also makes Bitcoin a unique digital currency that is significantly different from the traditional financial system.

In addition, Bitcoin mining has also raised issues such as energy consumption and environmental protection. As Bitcoin has grown in popularity, the large amounts of electricity required for mining has also become a hotly debated issue. Some people worry that Bitcoin mining will increase energy consumption and carbon emissions and have a negative impact on the environment. Therefore, how to reduce the energy consumption of mining while ensuring network security has become one of the problems that the digital currency industry needs to solve urgently.

In general, Bitcoin mining is a complex issue involving many technical, economic and social aspects. By continuously improving computing power, optimizing mining equipment and exploring new consensus mechanisms, we may be able to find more efficient and sustainable mining methods and promote the further development of the digital currency industry. There are infinite possibilities and challenges behind the computing power of Bitcoin mining. Let us explore the future of digital currency together.

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To know what exactly Bitcoin mining is calculating, we need to understand what is Bitcoin mining? Bitcoin mining refers to calculating the correct data chain of Bitcoin through the computing power of Bitcoin mining machines. To put it simply, Bitcoin is a mathematical problem, and Bitcoin mining is calculating mathematical problems. Understand After learning about Bitcoin mining, the editor of the currency circle will give you a detailed introduction to what is calculated in Bitcoin mining?

 What does Bitcoin mining calculate?

Bitcoin mining calculations are actually about everyone doing math problems together. The stems of the questions are transactions that need to be recorded. Everyone competes for the accounting rights by solving the problems, and the miners who capture them can get system rewards and transaction fees.

The characteristic of the SHA256 algorithm used by Bitcoin is that it is easy to verify that the known answer is correct, but it is very troublesome to get the answer, and you need to try numbers one by one. The miner who gets the answer first will be recognized by everyone as having grabbed the accounting rights, and the reward will be his. Everyone continues to grab the accounting rights for the next question.

Simply put, the significance of these calculations is only to ensure the stability and security of the entire system, and has no further significance. It is incomplete to regard Bitcoin as a by-product of computing. The generation and issuance of Bitcoin, all transactions on the Bitcoin chain, and the stability of the Bitcoin system are all the purposes of computing and are integrated. Of course, apart from maintaining this system, there is indeed no other value or product produced. This is also a black spot where Bitcoin is accused of not being environmentally friendly and wasting resources.

In general, Bitcoin, as a landmark blockchain digital currency, derives from the huge investment in computing power and the huge value of user trust. There is no doubt about this.

The blockchain is essentially linked by data blocks that record transaction information. The proof of work required to generate a new block is to find a random number such that the random number and the previous block’s The string consisting of the hash value and the transaction data of this new block is substituted into the hash operation, and the obtained hash value meets the target difficulty requirements.

Hash operation, simply put, is to input a string of any length for hash operation, and you will get a shorter fixed-number string, which is called the hash value of the input information, and different input information, even if it is A difference in punctuation will generate a completely different hash value. The hash value of the previous block is the only hash value obtained by substituting the previous block information into the hash operation.

The expression of the hash value is composed of 10 numbers from 0 to 9 and 6 numbers abcdef, which means that each bit has 16 possibilities. The expression of the hash value generated by any input is very random and uncontrollable. The specific difficulty requirement refers to limiting the target range expressed by a hash value - the consecutive multiple digits at the beginning of the hash value are 0. We know that by randomly substituting values in, the probability of realizing that the first digit is 0 is 1/ 16. The probability of realizing that the first 8 digits are all 0 is 1/2^
32. That is to say, approximately 2^ needs to be substituted
It takes 32 random numbers to get a hash value with the first 8 bits being 0. Therefore, the accounting nodes spend a lot of computing power in the calculation process, which is to substitute a large number of random numbers for hash operations until they find a hash value that allows them to participate in the generation of the required number of 0s as the beginning.

This difficulty requirement is adjusted based on changes in the computing power of the entire network. After every 2016 blocks are generated by the Bitcoin network consensus, all network nodes re-evaluate the computing power level to determine new difficulty requirements to ensure that a target random number is found. The time is about 10 minutes.

To put it simply, you keep piecing together strings and calculating the SHA256 hash value until you find a string that generates a suitable hash. This string is the solution.

In general, Bitcoin mining is to calculate the hash value. After the calculation, the only legal hash value is obtained. Of course, this calculation process is very complicated and cannot be solved by humans. Therefore, before mining , it is very important to choose a good mining machine.