The four most famous international exchanges:

Binance INTL	OKX INTL	Gate.io INTL	Huobi INTL
China Line　APP DL	China Line　APP DL	China Line　APP DL	China Line　APP DL

Note: The above exchange logo is the official website registration link, and the text is the APP download link.

What is Bitcoin mining? The world is bustling for profit. Wherever there is profit, there are people. I believe everyone has heard of Bitcoin. Because of the huge profits, many investors also choose it. In order to mine Bitcoin, he became a
Miner. The so-called Bitcoin mining machine is a computer used to earn Bitcoins.

What is Bitcoin mining?

Mining is a process that increases the currency supply of Bitcoin and also protects the security of the Bitcoin system and prevents fraudulent transactions. Miners provide computing power to the Bitcoin network in exchange for the opportunity to receive Bitcoin rewards. People who know Bitcoin should know that it is a peer-to-peer payment system with transactions at its core. To put it bluntly, you send me a transaction and I send you a transaction. Someone has to keep track of these transactions for us. Banks and the current Alipay are third parties that help you keep accounts. In Bitcoin, a person called a miner keeps accounts.

It doesn't matter how miners keep track of things, there is a way to keep accounts anyway, right? But which miner records it is the key. Because Bitcoin does not have a central node like a bank, every user can become an accounting miner. But when everyone comes to compete for the job, who will have the right to keep accounts? How to prove that you, the miner, have actually done the work, and how to ensure that the miner does not keep false accounts? Satoshi Nakamoto, the inventor of Bitcoin, came up with a A very smart method, this method is called the workload proof mechanism, which is what we often call POW.

Don’t you want to keep accounts? All candidates must solve a math problem related to the ledger on the previous page. How to solve it? It’s actually very simple. Just guess, just like buying a lottery ticket. Keep guessing a hash value. There are no shortcuts. , just keep guessing. If whoever guesses correctly first will have the accounting rights to add a new page of the ledger to the Bitcoin system. The ability or speed of guessing is called computing power. Why do miners compete for these Bitcoins to keep accounts? Because the Bitcoin system stipulates that whoever keeps accounts will be rewarded with the latest Bitcoins. It is such a good thing to get money for guessing the questions. Of course everyone grabbed it.

The process of solving math problems to compete for accounting rights and then accounting for the ledger is mining. Why is it called mining? Because the reward for this accounting, from the initial reward of 50 new Bitcoins to the accountant for each page of the ledger, will slowly increase to 25 for each page of the account, and then It is 12.5. For every 210,000 pages of ledgers recorded, the Bitcoin reward for each page of ledgers recorded will be reduced by half.

What is this a bit like? It's a bit like digging for precious metals, right? Just like digging for gold, it's actually random. At the beginning, there is a lot of gold and it's easy to dig. Then gradually, there's less and less, and then it becomes harder to dig. So, this The process is vividly called mining.